Deutsche Bank AG Takes Position in Burke & Herbert Financial Services Corp. $BHRB

Deutsche Bank AG acquired a new stake in shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 15,464 shares of the company's stock, valued at approximately $1,111,000. Deutsche Bank AG owned 0.08% of Burke & Herbert Financial Services as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of BHRB. Endeavour Capital Advisors Inc. boosted its holdings in shares of Burke & Herbert Financial Services by 22.0% during the fourth quarter. Endeavour Capital Advisors Inc. now owns 125,323 shares of the company's stock worth $7,809,000 after purchasing an additional 22,601 shares during the last quarter. Principal Financial Group Inc. purchased a new stake in shares of Burke & Herbert Financial Services in the first quarter valued at $1,038,000. Dimensional Fund Advisors LP increased its stake in Burke & Herbert Financial Services by 15.7% in the first quarter. Dimensional Fund Advisors LP now owns 367,948 shares of the company's stock valued at $22,919,000 after purchasing an additional 49,957 shares during the last quarter. Vanguard Group Inc. lifted its position 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. Finally, Empowered Funds LLC boosted its stake in Burke & Herbert Financial Services by 46.1% in the 1st quarter. Empowered Funds LLC now owns 67,280 shares of the company's stock worth $4,191,000 after buying an additional 21,227 shares during the last quarter.

Analysts Set New Price Targets

Several research analysts have recently weighed in on BHRB shares. Keefe, Bruyette & Woods increased their price objective on shares of Burke & Herbert Financial Services from $80.00 to $81.00 and gave the stock an "outperform" rating in a report on Friday, July 31st. Weiss Ratings upgraded shares of Burke & Herbert Financial Services from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, August 12th. Wall Street Zen raised shares of Burke & Herbert Financial Services from a "sell" rating to a "hold" rating in a research note on Sunday, August 9th. DA Davidson set a $75.00 price target on Burke & Herbert Financial Services in a research report on Monday, July 27th. Finally, Freedom Capital upgraded Burke & Herbert Financial Services from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $75.25.

Burke & Herbert Financial Services Stock Performance

Shares of BHRB stock opened at $71.71 on Monday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13. The company has a market cap of $1.45 billion, a PE ratio of 11.49 and a beta of 0.57. The company's fifty day simple moving average is $71.55 and its 200-day simple moving average is $66.80. Burke & Herbert Financial Services Corp. has a 52 week low of $57.42 and a 52 week high of $75.08.

Burke & Herbert Financial Services (NASDAQ:BHRB - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The company reported $2.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.05. Burke & Herbert Financial Services had a return on equity of 13.66% and a net margin of 18.86%.The firm had revenue of $106.89 million during the quarter, compared to the consensus estimate of $112.86 million. As a group, equities research analysts anticipate that Burke & Herbert Financial Services Corp. will post 8.19 EPS for the current year.

Burke & Herbert Financial Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be paid a $0.55 dividend. The ex-dividend date is Friday, August 14th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.1%. Burke & Herbert Financial Services's dividend payout ratio (DPR) is 35.26%.

Insiders Place Their Bets

In other news, Director Diane Poillon purchased 1,200 shares of the company's stock in a transaction that occurred on Wednesday, August 12th. The shares were purchased at an average price of $73.67 per share, with a total value of $88,404.00. Following the purchase, the director directly owned 4,128 shares of the company's stock, valued at approximately $304,109.76. This represents a 40.98% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director James Mason Burke sold 1,500 shares of the firm's stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $73.03, for a total value of $109,545.00. Following the sale, the director owned 258,480 shares of the company's stock, valued at $18,876,794.40. This represents a 0.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have acquired 6,369 shares of company stock valued at $414,547 and have sold 5,650 shares valued at $416,094. 11.99% of the stock is owned by corporate insiders.

About Burke & Herbert Financial Services

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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