Empowered Funds LLC Boosts Stock Position in Burke & Herbert Financial Services Corp. $BHRB

Key Points

• Empowered Funds increased its BHRB stake by 46.1% in the first quarter, acquiring 21,227 additional shares for a total position valued at approximately $4.2 million. Other institutional investors also initiated or expanded positions.
• Burke & Herbert Financial Services reported quarterly EPS of $2.03, exceeding the $1.98 analyst consensus, though revenue of $106.9 million fell short of the $112.86 million estimate. Shares opened at $73.25, near their 52-week high of $74.32.
• The company declared a quarterly dividend of $0.55 per share, or $2.20 annualized, representing a 3.0% yield. Analyst sentiment is moderately bullish, with an average price target of $75.25, although ratings range from strong buy to sell.

Empowered Funds LLC boosted its stake in shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB - Free Report) by 46.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 67,280 shares of the company's stock after acquiring an additional 21,227 shares during the quarter. Empowered Funds LLC owned about 0.33% of Burke & Herbert Financial Services worth $4,191,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Kestra Advisory Services LLC acquired a new position in shares of Burke & Herbert Financial Services in the fourth quarter valued at approximately $30,000. Aquatic Capital Management LLC acquired a new stake in shares of Burke & Herbert Financial Services during the third quarter worth $117,000. Tower Research Capital LLC TRC grew its position in Burke & Herbert Financial Services by 585.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,393 shares of the company's stock valued at $203,000 after buying an additional 2,898 shares during the last quarter. Sei Investments Co. purchased a new position in Burke & Herbert Financial Services in the 2nd quarter valued at $204,000. Finally, Quantbot Technologies LP increased its stake in Burke & Herbert Financial Services by 8.1% in the 2nd quarter. Quantbot Technologies LP now owns 3,897 shares of the company's stock valued at $233,000 after buying an additional 292 shares during the period.

Burke & Herbert Financial Services Stock Performance

Shares of BHRB opened at $73.25 on Monday. The company has a 50-day simple moving average of $68.32 and a 200-day simple moving average of $65.83. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $1.48 billion, a PE ratio of 11.74 and a beta of 0.58. Burke & Herbert Financial Services Corp. has a 52-week low of $56.11 and a 52-week high of $74.32.

Burke & Herbert Financial Services (NASDAQ:BHRB - Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The company reported $2.03 EPS for the quarter, topping analysts' consensus estimates of $1.98 by $0.05. Burke & Herbert Financial Services had a net margin of 18.86% and a return on equity of 15.11%. The firm had revenue of $106.90 million for the quarter, compared to the consensus estimate of $112.86 million. Equities research analysts predict that Burke & Herbert Financial Services Corp. will post 8.19 earnings per share for the current fiscal year.

Burke & Herbert Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Friday, August 14th. Burke & Herbert Financial Services's dividend payout ratio (DPR) is presently 35.26%.

Insider Transactions at Burke & Herbert Financial Services

In other news, Director Jose David Riojas bought 1,000 shares of the firm's stock in a transaction on Tuesday, May 12th. The shares were bought at an average cost of $62.00 per share, for a total transaction of $62,000.00. Following the completion of the transaction, the director owned 20,000 shares in the company, valued at $1,240,000. This trade represents a 5.26% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jill S. Upson sold 1,112 shares of the business's stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $63.30, for a total transaction of $70,389.60. Following the completion of the sale, the director owned 2,000 shares in the company, valued at $126,600. This represents a 35.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have bought 11,300 shares of company stock valued at $709,650 in the last quarter. 11.99% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on BHRB. Keefe, Bruyette & Woods upped 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 research report on Friday. Wall Street Zen downgraded shares of Burke & Herbert Financial Services from a "hold" rating to a "sell" rating in a report on Saturday. Freedom Capital upgraded shares of Burke & Herbert Financial Services from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 15th. Weiss Ratings raised shares of Burke & Herbert Financial Services from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, June 29th. Finally, DA Davidson set a $75.00 price objective on shares of Burke & Herbert Financial Services in a research report on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $75.25.

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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