Citadel Advisors LLC Has $1.27 Million Stake in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB)

Citadel Advisors LLC raised its holdings in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB - Free Report) by 132.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 20,333 shares of the company's stock after purchasing an additional 11,583 shares during the quarter. Citadel Advisors LLC owned approximately 0.14% of Burke & Herbert Financial Services worth $1,268,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of BHRB. Sterling Capital Management LLC raised its position in shares of Burke & Herbert Financial Services by 841.3% during the fourth quarter. Sterling Capital Management LLC now owns 433 shares of the company's stock worth $27,000 after acquiring an additional 387 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in Burke & Herbert Financial Services by 227.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,347 shares of the company's stock valued at $84,000 after acquiring an additional 936 shares during the period. KLP Kapitalforvaltning AS acquired a new position in Burke & Herbert Financial Services in the fourth quarter valued at about $156,000. XTX Topco Ltd acquired a new position in Burke & Herbert Financial Services in the fourth quarter valued at about $239,000. Finally, Avenir Corp acquired a new position in Burke & Herbert Financial Services in the fourth quarter valued at about $243,000.

Burke & Herbert Financial Services Price Performance

NASDAQ:BHRB traded up $0.49 during trading hours on Thursday, reaching $57.10. 28,974 shares of the company were exchanged, compared to its average volume of 49,056. The company has a market capitalization of $856.79 million and a P/E ratio of 23.79. Burke & Herbert Financial Services Corp. has a 1-year low of $46.00 and a 1-year high of $75.32. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.83 and a quick ratio of 0.83. The business has a 50 day moving average of $54.34 and a 200 day moving average of $60.69.

Burke & Herbert Financial Services (NASDAQ:BHRB - Get Free Report) last issued its quarterly earnings results on Friday, April 25th. The company reported $1.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.78 by $0.02. The business had revenue of $83.01 million for the quarter, compared to the consensus estimate of $85.50 million. Burke & Herbert Financial Services had a return on equity of 15.15% and a net margin of 8.88%. Research analysts forecast that Burke & Herbert Financial Services Corp. will post 8.05 EPS for the current year.

Burke & Herbert Financial Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Thursday, May 15th will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 3.85%. The ex-dividend date of this dividend is Thursday, May 15th. Burke & Herbert Financial Services's dividend payout ratio is currently 62.68%.

Burke & Herbert Financial Services announced that its Board of Directors has approved a stock buyback plan on Friday, April 25th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the company to repurchase up to 6.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BHRB. Keefe, Bruyette & Woods reduced their price objective on Burke & Herbert Financial Services from $73.00 to $70.00 and set an "outperform" rating for the company in a research report on Tuesday, April 29th. Wall Street Zen raised Burke & Herbert Financial Services from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd.

Insider Buying and Selling

In related news, Director Samuel Laing Hinson III bought 4,000 shares of the stock in a transaction that occurred on Tuesday, April 29th. The stock was acquired at an average cost of $53.00 per share, with a total value of $212,000.00. Following the transaction, the director now directly owns 28,800 shares in the company, valued at approximately $1,526,400. This trade represents a 16.13% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Julian Forrest Jr. Barnwell acquired 2,000 shares of the stock in a transaction dated Wednesday, March 5th. The stock was acquired at an average cost of $60.50 per share, with a total value of $121,000.00. Following the completion of the transaction, the director now owns 203,939 shares in the company, valued at approximately $12,338,309.50. This represents a 0.99% increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 14,942 shares of company stock valued at $838,713 in the last three months. Insiders own 10.92% of the company's stock.

Burke & Herbert Financial Services Profile

Burke Herbert Financial Services Corp. is a bank holding company, which engages in the provision of banking products and financial services to small to medium-sized businesses, their owners and employees, professional corporations, non-profits, and individuals. It operates through the following loan portfolio segments: Commercial Real Estate, Owner-Occupied Commercial Real Estate, Acquisition, Construction, and Development, Commercial and Industrial, Single Family Residential (1-4 Units), and Consumer Non-Real Estate and Other.