Burke & Herbert Financial Services Corp. $BHRB Shares Purchased by Endeavour Capital Advisors Inc.

Key Points

• Endeavour Capital Advisors increased its stake in Burke & Herbert Financial Services by 22.0% in the fourth quarter, buying 22,601 additional shares and bringing its total holding to 125,323 shares valued at about $7.81 million.
• The bank reported Q1 earnings of $1.87 per share, matching analyst expectations, while revenue came in at $84.7 million versus an estimated $86.5 million.
• Burke & Herbert announced a quarterly dividend of $0.55 per share, equal to an annualized yield of 3.5%, even as analysts maintain a consensus rating of Moderate Buy with a $71.40 average price target.

Endeavour Capital Advisors Inc. grew its position in shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB - Free Report) by 22.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 125,323 shares of the company's stock after acquiring an additional 22,601 shares during the quarter. Burke & Herbert Financial Services comprises 2.2% of Endeavour Capital Advisors Inc.'s portfolio, making the stock its 21st biggest position. Endeavour Capital Advisors Inc. owned about 0.83% of Burke & Herbert Financial Services worth $7,809,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. LSV Asset Management lifted its stake in shares of Burke & Herbert Financial Services by 10.5% in the 4th quarter. LSV Asset Management now owns 45,200 shares of the company's stock valued at $2,816,000 after purchasing an additional 4,300 shares in the last quarter. Alliance Wealth Strategies LLC d b a Brown Edwards Wealth Strategies purchased a new position in Burke & Herbert Financial Services in the fourth quarter valued at approximately $563,000. Vanguard Group Inc. grew its stake in Burke & Herbert Financial Services by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 779,800 shares of the company's stock worth $48,589,000 after buying an additional 14,358 shares during the period. CWM LLC increased its position in shares of Burke & Herbert Financial Services by 17.3% in the fourth quarter. CWM LLC now owns 5,128 shares of the company's stock worth $320,000 after acquiring an additional 758 shares in the last quarter. Finally, Graves Light Lenhart Wealth Inc. acquired a new stake in shares of Burke & Herbert Financial Services in the fourth quarter worth $201,000.

Burke & Herbert Financial Services Price Performance

Shares of BHRB stock opened at $62.77 on Tuesday. The firm has a fifty day simple moving average of $63.20 and a 200-day simple moving average of $64.35. The company has a market capitalization of $1.26 billion, a PE ratio of 8.14 and a beta of 0.74. Burke & Herbert Financial Services Corp. has a twelve month low of $54.45 and a twelve month high of $70.90. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.10.

Burke & Herbert Financial Services (NASDAQ:BHRB - Get Free Report) last released its quarterly earnings results on Thursday, April 23rd. The company reported $1.87 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.87. Burke & Herbert Financial Services had a net margin of 24.04% and a return on equity of 14.46%. The firm had revenue of $84.70 million for the quarter, compared to the consensus estimate of $86.50 million. Equities research analysts anticipate that Burke & Herbert Financial Services Corp. will post 8.33 earnings per share for the current fiscal year.

Burke & Herbert Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Friday, May 15th will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Friday, May 15th. Burke & Herbert Financial Services's payout ratio is presently 28.53%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Freedom Capital upgraded shares of Burke & Herbert Financial Services from a "hold" rating to a "strong-buy" rating in a report on Friday, May 15th. Citigroup downgraded Burke & Herbert Financial Services to a "hold" rating in a report on Wednesday, February 25th. Zacks Research lowered Burke & Herbert Financial Services from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 2nd. Loop Capital set a $74.00 target price on Burke & Herbert Financial Services in a research report on Wednesday, February 25th. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of Burke & Herbert Financial Services in a research note on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $71.40.

Insiders Place Their Bets

In other Burke & Herbert Financial Services news, Director Jill S. Upson sold 1,112 shares of Burke & Herbert Financial Services stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $63.30, for a total transaction of $70,389.60. Following the sale, the director directly owned 2,000 shares in the company, valued at $126,600. The trade was a 35.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Shawn Patrick Mclaughlin bought 1,000 shares of the business's stock in a transaction on Tuesday, April 28th. The stock was acquired at an average cost of $64.80 per share, for a total transaction of $64,800.00. Following the completion of the transaction, the director owned 69,000 shares in the company, valued at $4,471,200. This represents a 1.47% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders have acquired 7,300 shares of company stock worth $460,650. 10.92% of the stock is owned by insiders.

Burke & Herbert Financial Services Profile

Burke & Herbert Financial Services, Inc is a bank holding company headquartered in Alexandria, Virginia, and the parent company of Burke & Herbert Bank. The company operates as a community‐focused financial institution, offering a full suite of commercial and consumer banking products to individuals, small businesses, and nonprofit organizations in the Washington, DC metropolitan area.

The company’s core banking services include traditional deposit accounts such as checking, savings, money market and certificates of deposit, alongside digital banking platforms for online and mobile account access.

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