Hotchkis & Wiley Capital Management LLC Invests $5.76 Million in Burke & Herbert Financial Services Corp. $BHRB

Key Points

• Hotchkis & Wiley Capital Management LLC recently acquired 102,690 shares of Burke & Herbert Financial Services Corp., equating to a valuation of approximately $5.76 million, representing a 0.69% ownership stake.
• Burke & Herbert's recent earnings report exceeded analysts' expectations, showing $1.97 earnings per share and a net revenue of $87.11 million for the quarter.
• The company announced a quarterly dividend of $0.55 per share, reflecting a yield of 3.5% and a payout ratio of 31.93%.

Hotchkis & Wiley Capital Management LLC acquired a new stake in shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 102,690 shares of the company's stock, valued at approximately $5,762,000. Hotchkis & Wiley Capital Management LLC owned 0.69% of Burke & Herbert Financial Services at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in BHRB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Burke & Herbert Financial Services by 7.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,711 shares of the company's stock worth $481,000 after purchasing an additional 535 shares during the last quarter. MetLife Investment Management LLC raised its position in shares of Burke & Herbert Financial Services by 7.6% in the 4th quarter. MetLife Investment Management LLC now owns 8,214 shares of the company's stock worth $512,000 after purchasing an additional 577 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of Burke & Herbert Financial Services by 104.3% in 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 during the last quarter. Tower Research Capital LLC TRC raised its position in shares of Burke & Herbert Financial Services by 227.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,347 shares of the company's stock worth $84,000 after purchasing an additional 936 shares during the last quarter. Finally, Delphi Management Inc. MA raised its position in shares of Burke & Herbert Financial Services by 21.6% in the 1st quarter. Delphi Management Inc. MA now owns 5,520 shares of the company's stock worth $310,000 after purchasing an additional 980 shares during the last quarter.

Insiders Place Their Bets

In other Burke & Herbert Financial Services news, Director Jose David Riojas purchased 500 shares of the company's stock in a transaction on Thursday, June 5th. The stock was acquired at an average cost of $55.85 per share, for a total transaction of $27,925.00. Following the purchase, the director directly owned 19,000 shares of the company's stock, valued at $1,061,150. This trade represents a 2.70% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 10.92% of the stock is owned by insiders.

Burke & Herbert Financial Services Stock Performance

Burke & Herbert Financial Services stock traded down $0.01 during midday trading on Friday, hitting $63.56. The stock had a trading volume of 35,465 shares, compared to its average volume of 49,808. The firm's fifty day moving average is $61.30 and its two-hundred day moving average is $58.29. The company has a market capitalization of $954.80 million, a PE ratio of 9.22 and a beta of 1.21. Burke & Herbert Financial Services Corp. has a 52-week low of $47.57 and a 52-week high of $75.32. 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 (NASDAQ:BHRB - Get Free Report) last released its earnings results on Thursday, July 24th. The company reported $1.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.12. The company had revenue of $87.11 million during the quarter, compared to analyst estimates of $86.06 million. Burke & Herbert Financial Services had a net margin of 20.93% and a return on equity of 15.39%. On average, research analysts forecast that Burke & Herbert Financial Services Corp. will post 8.05 EPS for the current year.

Burke & Herbert Financial Services Announces Dividend

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

Wall Street Analysts Forecast Growth

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