D. E. Shaw & Co. Inc. Acquires 6,355 Shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB)

D. E. Shaw & Co. Inc. boosted its stake in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB - Free Report) by 112.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 12,026 shares of the company's stock after buying an additional 6,355 shares during the quarter. D. E. Shaw & Co. Inc. owned approximately 0.08% of Burke & Herbert Financial Services worth $750,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. Sterling Capital Management LLC lifted its holdings in 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 period. Tower Research Capital LLC TRC grew its position in shares of 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 purchasing an additional 936 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of Burke & Herbert Financial Services during the fourth quarter valued at about $156,000. XTX Topco Ltd bought a new stake in Burke & Herbert Financial Services during the 4th quarter worth approximately $239,000. Finally, Avenir Corp bought a new position in shares of Burke & Herbert Financial Services in the fourth quarter worth $243,000.

Burke & Herbert Financial Services Stock Up 0.9%

Shares of BHRB stock traded up $0.49 during mid-day trading on Thursday, reaching $57.10. 28,974 shares of the company's stock traded hands, compared to its average volume of 49,099. The company's 50-day moving average price is $54.30 and its 200-day moving average price is $60.60. The company has a market cap of $856.79 million and a P/E ratio of 23.79. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.15. Burke & Herbert Financial Services Corp. has a 12 month low of $46.00 and a 12 month high of $75.32.

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, beating analysts' consensus estimates of $1.78 by $0.02. The company had revenue of $83.01 million during the quarter, compared to analysts' expectations of $85.50 million. Burke & Herbert Financial Services had a net margin of 8.88% and a return on equity of 15.15%. On average, equities analysts expect that Burke & Herbert Financial Services Corp. will post 8.05 earnings per share for the current fiscal year.

Burke & Herbert Financial Services declared that its board has initiated a stock repurchase plan on Friday, April 25th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 6.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's management believes its stock is undervalued.

Burke & Herbert Financial Services Announces Dividend

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

Insider Buying and Selling

In other news, Director Julian Forrest Jr. Barnwell bought 1,140 shares of the firm's stock in a transaction on Thursday, March 13th. The stock was acquired at an average cost of $58.38 per share, with a total value of $66,553.20. Following the completion of the acquisition, the director now owns 91,361 shares of the company's stock, valued at approximately $5,333,655.18. This represents a 1.26% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Shawn Patrick Mclaughlin bought 1,000 shares of the company's stock in a transaction dated Wednesday, May 7th. The stock was purchased at an average price of $56.50 per share, for a total transaction of $56,500.00. Following the purchase, the director now owns 64,000 shares of the company's stock, valued at approximately $3,616,000. This represents a 1.59% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 14,942 shares of company stock worth $838,713 in the last 90 days. Insiders own 10.92% of the company's stock.

Wall Street Analyst Weigh In

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

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.