GAMMA Investing LLC Acquires 6,240 Shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB)

GAMMA Investing LLC lifted its position in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB - Free Report) by 14,181.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,284 shares of the company's stock after buying an additional 6,240 shares during the period. GAMMA Investing LLC's holdings in Burke & Herbert Financial Services were worth $353,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Citadel Advisors LLC increased its position in shares of Burke & Herbert Financial Services by 132.4% during the fourth quarter. Citadel Advisors LLC now owns 20,333 shares of the company's stock worth $1,268,000 after acquiring an additional 11,583 shares in the last quarter. Northern Trust Corp raised its stake in shares of Burke & Herbert Financial Services by 5.1% in the 4th quarter. Northern Trust Corp now owns 130,117 shares of the company's stock valued at $8,114,000 after purchasing an additional 6,313 shares during the period. Trexquant Investment LP bought a new stake in shares of Burke & Herbert Financial Services in the fourth quarter valued at about $367,000. American Century Companies Inc. boosted its position in shares of Burke & Herbert Financial Services by 30.1% during the fourth quarter. American Century Companies Inc. now owns 25,558 shares of the company's stock worth $1,594,000 after buying an additional 5,917 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Burke & Herbert Financial Services by 1.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 110,559 shares of the company's stock worth $6,894,000 after buying an additional 2,078 shares in the last quarter.

Analyst Ratings Changes

Several research firms have commented on BHRB. Wall Street Zen upgraded Burke & Herbert Financial Services from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd. 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 report on Tuesday, April 29th.

Burke & Herbert Financial Services Stock Up 1.0%

Shares of NASDAQ BHRB traded up $0.59 during mid-day trading on Tuesday, hitting $58.58. The company had a trading volume of 65,570 shares, compared to its average volume of 51,049. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.15. The firm has a 50-day simple moving average of $55.73 and a two-hundred day simple moving average of $59.03. The company has a market capitalization of $879.29 million and a PE ratio of 16.69. Burke & Herbert Financial Services Corp. has a one year low of $47.28 and a one year high of $75.32.

Burke & Herbert Financial Services (NASDAQ:BHRB - Get Free Report) last announced its quarterly earnings data on Friday, April 25th. The company reported $1.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.78 by $0.02. Burke & Herbert Financial Services had a return on equity of 15.20% and a net margin of 12.02%. The company had revenue of $83.01 million for the quarter, compared to analysts' expectations of $85.50 million. On average, equities analysts expect that Burke & Herbert Financial Services Corp. will post 8.05 EPS for the current year.

Burke & Herbert Financial Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Thursday, May 15th were given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.76%. The ex-dividend date of this dividend was Thursday, May 15th. Burke & Herbert Financial Services's dividend payout ratio (DPR) is presently 62.68%.

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

Insider Transactions at Burke & Herbert Financial Services

In other Burke & Herbert Financial Services news, Director Shawn Patrick Mclaughlin purchased 1,000 shares of the business's stock in a transaction on Wednesday, May 7th. The stock was acquired at an average price of $56.50 per share, with a total value of $56,500.00. Following the acquisition, the director now directly owns 64,000 shares of the company's stock, valued at $3,616,000. This trade represents a 1.59% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Jose David Riojas acquired 500 shares of the firm's stock in a transaction on Thursday, June 5th. The stock was bought at an average price of $55.85 per share, for a total transaction of $27,925.00. Following the completion of the acquisition, the director now owns 19,000 shares of the company's stock, valued at approximately $1,061,150. The trade was a 2.70% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 10,302 shares of company stock worth $560,535 in the last ninety days. Insiders own 10.92% of the company's stock.

Burke & Herbert Financial Services Company Profile

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.