Goldman Sachs Group Inc. Purchases 10,117 Shares of Burke & Herbert Financial Services Corp. $BHRB

Key Points

• Goldman Sachs Group Inc. increased its holdings in Burke & Herbert Financial Services by 16.4% during the 1st quarter, acquiring an additional 10,117 shares, bringing its total to approximately 71,849 shares valued at $4,031,000.
• Burke & Herbert Financial Services reported a $1.97 EPS for the quarter, exceeding analysts' expectations by $0.12, with revenue of $87.11 million compared to the forecast of $86.06 million.
• The company recently announced a quarterly dividend of $0.55 per share, yielding 3.6%, with a payout ratio of approximately 31.93%.

Goldman Sachs Group Inc. increased its stake in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB - Free Report) by 16.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 71,849 shares of the company's stock after acquiring an additional 10,117 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.48% of Burke & Herbert Financial Services worth $4,031,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. State of Wyoming acquired a new stake in shares of Burke & Herbert Financial Services during the first quarter worth about $49,000. PNC Financial Services Group Inc. boosted its position in shares of Burke & Herbert Financial Services by 104.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,802 shares of the company's stock worth $101,000 after purchasing an additional 920 shares in the last quarter. Larson Financial Group LLC purchased a new stake in shares of Burke & Herbert Financial Services in the 1st quarter worth about $141,000. Quantbot Technologies LP boosted its position in shares of Burke & Herbert Financial Services by 360,400.0% in the 1st quarter. Quantbot Technologies LP now owns 3,605 shares of the company's stock worth $202,000 after buying an additional 3,604 shares in the last quarter. Finally, Squarepoint Ops LLC purchased a new stake in shares of Burke & Herbert Financial Services in the 4th quarter worth about $218,000.

Burke & Herbert Financial Services Price Performance

NASDAQ:BHRB traded down $1.47 during mid-day trading on Friday, reaching $62.84. 154,709 shares of the stock were exchanged, compared to its average volume of 41,864. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.15. Burke & Herbert Financial Services Corp. has a 1-year low of $47.57 and a 1-year high of $75.32. The firm has a market capitalization of $943.86 million, a PE ratio of 9.12 and a beta of 1.21. The business has a fifty day moving average price of $61.62 and a 200 day moving average price of $58.30.

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

Burke & Herbert Financial Services Dividend Announcement

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

Wall Street Analyst Weigh In

BHRB has been the topic of a number of recent research reports. Keefe, Bruyette & Woods upped their target price on shares of Burke & Herbert Financial Services from $70.00 to $72.00 and gave the company an "outperform" rating in a report on Monday, July 28th. Janney Montgomery Scott assumed coverage on shares of Burke & Herbert Financial Services in a research report on Thursday, July 10th. They set a "buy" rating and a $70.00 target price for the company. Wall Street Zen cut Burke & Herbert Financial Services from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Finally, DA Davidson upped their price target on Burke & Herbert Financial Services from $69.00 to $73.00 and gave the stock a "buy" rating in a report on Monday, July 28th. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $71.67.

Burke & Herbert Financial Services 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.