Cubist Systematic Strategies LLC Takes $979,000 Position in Burke & Herbert Financial Services Corp. $BHRB

Key Points

• Cubist Systematic Strategies LLC acquired 17,451 shares of Burke & Herbert Financial Services Corp., valued at approximately $979,000, representing a 0.12% stake in the company.
• Analysts have given Burke & Herbert Financial Services a consensus rating of "Buy" with a target price of $71.67, following favorable earnings results that exceeded expectations.
• Burke & Herbert recently announced a quarterly dividend of $0.55, translating to an annualized payout of $2.20 and a dividend yield of 3.5%.

Cubist Systematic Strategies LLC purchased a new stake in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 17,451 shares of the company's stock, valued at approximately $979,000. Cubist Systematic Strategies LLC owned 0.12% of Burke & Herbert Financial Services as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Burke & Herbert Financial Services by 7.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,711 shares of the company's stock valued at $481,000 after purchasing an additional 535 shares during the period. State of Wyoming bought a new stake in Burke & Herbert Financial Services during the 1st quarter worth approximately $49,000. PNC Financial Services Group Inc. increased its holdings in Burke & Herbert Financial Services by 104.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,802 shares of the company's stock worth $101,000 after acquiring an additional 920 shares during the period. Delphi Management Inc. MA increased its holdings in Burke & Herbert Financial Services by 21.6% during the 1st quarter. Delphi Management Inc. MA now owns 5,520 shares of the company's stock worth $310,000 after acquiring an additional 980 shares during the period. Finally, AlphaQuest LLC increased its holdings in Burke & Herbert Financial Services by 59.2% during the 1st quarter. AlphaQuest LLC now owns 4,601 shares of the company's stock worth $258,000 after acquiring an additional 1,711 shares during the period.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Janney Montgomery Scott assumed coverage on shares of Burke & Herbert Financial Services in a report on Thursday, July 10th. They set a "buy" rating and a $70.00 target price on the stock. Keefe, Bruyette & Woods upped their target price on shares of Burke & Herbert Financial Services from $70.00 to $72.00 and gave the stock an "outperform" rating in a report on Monday, July 28th. Wall Street Zen lowered shares of Burke & Herbert Financial Services from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Finally, DA Davidson upped their target price on shares of Burke & Herbert Financial Services from $69.00 to $73.00 and gave the stock a "buy" rating in a report on Monday, July 28th. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $71.67.

Burke & Herbert Financial Services Price Performance

Shares of NASDAQ:BHRB traded down $0.84 during trading on Friday, reaching $61.56. The company had a trading volume of 25,187 shares, compared to its average volume of 45,109. The company has a fifty day moving average of $61.75 and a two-hundred day moving average of $58.32. The stock has a market capitalization of $924.75 million, a P/E ratio of 8.93 and a beta of 1.21. Burke & Herbert Financial Services Corp. has a 12 month low of $47.57 and a 12 month high of $75.32. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.15.

Burke & Herbert Financial Services (NASDAQ:BHRB - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The company reported $1.97 EPS for the quarter, topping analysts' consensus estimates of $1.85 by $0.12. The firm had revenue of $87.11 million for the quarter, compared to analyst estimates of $86.06 million. Burke & Herbert Financial Services had a net margin of 20.93% and a return on equity of 15.39%. Equities research analysts forecast that Burke & Herbert Financial Services Corp. will post 8.05 earnings per share for the current year.

Burke & Herbert Financial Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Friday, August 15th were paid a $0.55 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.6%. Burke & Herbert Financial Services's dividend payout ratio is 31.93%.

About Burke & Herbert Financial Services

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.