Burke & Herbert Financial Services Corp. $BHRB Shares Acquired by EJF Capital LLC

Key Points

• EJF Capital LLC increased its holdings in Burke & Herbert Financial Services Corp. by 7.0% during the first quarter, owning approximately 0.43% of the company, valued at about $3.6 million.
• The company reported earnings per share of $1.97 for the last quarter, exceeding estimates, along with a revenue of $87.11 million, which was also above expectations.
• Burke & Herbert Financial Services declared a quarterly dividend of $0.55 per share, reflecting a 3.5% annualized yield, with the payout ratio at 31.93%.

EJF Capital LLC lifted its position in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB - Free Report) by 7.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 64,368 shares of the company's stock after buying an additional 4,210 shares during the quarter. Burke & Herbert Financial Services makes up 2.3% of EJF Capital LLC's investment portfolio, making the stock its 14th largest holding. EJF Capital LLC owned approximately 0.43% of Burke & Herbert Financial Services worth $3,612,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of BHRB. Raymond James Financial Inc. acquired a new stake in shares of Burke & Herbert Financial Services in the fourth quarter valued at $274,000. Tower Research Capital LLC TRC raised its stake 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 acquiring an additional 936 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Burke & Herbert Financial Services by 117.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,829 shares of the company's stock valued at $613,000 after acquiring an additional 5,319 shares in the last quarter. Northern Trust Corp raised its stake in shares of Burke & Herbert Financial Services by 5.1% in the fourth quarter. Northern Trust Corp now owns 130,117 shares of the company's stock valued at $8,114,000 after acquiring an additional 6,313 shares in the last quarter. Finally, BNP Paribas Financial Markets acquired a new stake in shares of Burke & Herbert Financial Services in the fourth quarter valued at $267,000.

Burke & Herbert Financial Services Stock Up 0.0%

NASDAQ BHRB traded up $0.01 during trading on Monday, reaching $62.91. 22,264 shares of the company's stock were exchanged, compared to its average volume of 53,696. The stock has a market cap of $944.91 million, a P/E ratio of 9.13 and a beta of 1.21. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.82 and a current ratio of 0.82. The company has a 50 day moving average price of $61.75 and a two-hundred day moving average price of $58.26. Burke & Herbert Financial Services Corp. has a 1 year low of $47.57 and a 1 year high of $75.32.

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

Burke & Herbert Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Friday, August 15th were given a dividend of $0.55 per share. The ex-dividend date was Friday, August 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.5%. Burke & Herbert Financial Services's payout ratio is 31.93%.

Analysts Set New Price Targets

Several analysts have recently issued reports on BHRB shares. DA Davidson increased their price objective on Burke & Herbert Financial Services from $69.00 to $73.00 and gave the company a "buy" rating in a research note on Monday, July 28th. Wall Street Zen cut Burke & Herbert Financial Services from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Keefe, Bruyette & Woods increased their price objective on Burke & Herbert Financial Services from $70.00 to $72.00 and gave the company an "outperform" rating in a research note on Monday, July 28th. Finally, Janney Montgomery Scott assumed coverage on Burke & Herbert Financial Services in a research note on Thursday, July 10th. They issued a "buy" rating and a $70.00 price objective on the stock. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $71.67.

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.