3,989 Shares in Burke & Herbert Financial Services Corp. $BHRB Purchased by Hsbc Holdings PLC

Key Points

• HSBC Holdings PLC has acquired a new position in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB), purchasing 3,989 shares valued at approximately $221,000.
• Burke & Herbert Financial Services recently announced a quarterly dividend of $0.55 per share, yielding 3.5% annually, with a payout ratio of 31.93%.
• Despite the recent rating changes, the company maintains a consensus rating of "Buy" from analysts with an average price target of $71.67.

Hsbc Holdings PLC purchased a new position in shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 3,989 shares of the company's stock, valued at approximately $221,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quantbot Technologies LP raised its position in Burke & Herbert Financial Services by 360,400.0% during the 1st quarter. Quantbot Technologies LP now owns 3,605 shares of the company's stock valued at $202,000 after purchasing an additional 3,604 shares in the last quarter. American Century Companies Inc. raised its position in Burke & Herbert Financial Services by 103.7% during the 1st quarter. American Century Companies Inc. now owns 52,067 shares of the company's stock valued at $2,921,000 after purchasing an additional 26,509 shares in the last quarter. Nuveen LLC bought a new stake in Burke & Herbert Financial Services during the 1st quarter valued at $1,685,000. Invesco Ltd. raised its position in Burke & Herbert Financial Services by 77.0% during the 1st quarter. Invesco Ltd. now owns 10,144 shares of the company's stock valued at $569,000 after purchasing an additional 4,414 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in Burke & Herbert Financial Services by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 740,512 shares of the company's stock valued at $41,550,000 after purchasing an additional 8,349 shares in the last quarter.

Analyst Upgrades and Downgrades

BHRB has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods lifted their target price on Burke & Herbert Financial Services from $70.00 to $72.00 and gave the company an "outperform" rating in a research report on Monday, July 28th. Wall Street Zen lowered Burke & Herbert Financial Services from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Janney Montgomery Scott initiated coverage on 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. Finally, DA Davidson lifted their target price on Burke & Herbert Financial Services from $69.00 to $73.00 and gave the company a "buy" rating in a research report on Monday, July 28th. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $71.67.

Burke & Herbert Financial Services Stock Up 0.6%

BHRB stock traded up $0.36 on Thursday, hitting $62.40. 98,744 shares of the company's stock were exchanged, compared to its average volume of 42,117. Burke & Herbert Financial Services Corp. has a 12-month low of $47.57 and a 12-month high of $75.32. The firm has a 50 day moving average price of $61.80 and a two-hundred day moving average price of $58.32. 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 stock has a market cap of $937.25 million, a P/E ratio of 9.06 and a beta of 1.21.

Burke & Herbert Financial Services (NASDAQ:BHRB - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The company reported $1.97 EPS for the quarter, topping 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 company had revenue of $87.11 million during the quarter, compared to analysts' expectations of $86.06 million. As a group, equities research analysts expect that Burke & Herbert Financial Services Corp. will post 8.05 EPS for the current fiscal year.

Burke & Herbert Financial Services Announces Dividend

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

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.