Invesco Ltd. Has $569,000 Holdings in Burke & Herbert Financial Services Corp. $BHRB

Key Points

• Invesco Ltd. increased its stake in Burke & Herbert Financial Services Corp. by 77%, acquiring an additional 4,414 shares during the first quarter, bringing their total ownership to about 0.07% of the company valued at $569,000.
• Burke & Herbert Financial Services reported strong quarterly earnings with an EPS of $1.97, exceeding estimates, alongside a revenue of $87.11 million against expectations of $86.06 million.
• The firm declared a quarterly dividend of $0.55 per share, resulting in an annualized dividend yield of 3.4%, showcasing a dividend payout ratio of 31.93%.

Invesco Ltd. raised its position in shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB - Free Report) by 77.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,144 shares of the company's stock after purchasing an additional 4,414 shares during the period. Invesco Ltd. owned approximately 0.07% of Burke & Herbert Financial Services worth $569,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. increased its stake in shares of Burke & Herbert Financial Services by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 740,512 shares of the company's stock worth $41,550,000 after purchasing an additional 8,349 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Burke & Herbert Financial Services by 104.3% during the first 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 period. Y Intercept Hong Kong Ltd bought a new position in shares of Burke & Herbert Financial Services during the first quarter valued at approximately $267,000. Verdence Capital Advisors LLC increased its position in shares of Burke & Herbert Financial Services by 4.9% during the first quarter. Verdence Capital Advisors LLC now owns 71,707 shares of the company's stock valued at $4,023,000 after acquiring an additional 3,323 shares in the last quarter. Finally, Segall Bryant & Hamill LLC bought a new stake in shares of Burke & Herbert Financial Services during the first quarter valued at approximately $1,723,000.

Burke & Herbert Financial Services Stock Down 1.5%

Burke & Herbert Financial Services stock traded down $0.97 during midday trading on Friday, hitting $62.90. 33,729 shares of the stock were exchanged, compared to its average volume of 45,343. The firm has a market cap of $944.88 million, a P/E ratio of 9.13 and a beta of 1.21. Burke & Herbert Financial Services Corp. has a 1 year low of $47.57 and a 1 year high of $75.32. The company has a 50 day moving average price of $61.75 and a two-hundred day moving average price of $58.30. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.82 and a quick ratio of 0.82.

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 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 firm had revenue of $87.11 million for the quarter, compared to analyst estimates of $86.06 million. On average, sell-side analysts predict 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 company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Friday, August 15th were given a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend was Friday, August 15th. Burke & Herbert Financial Services's dividend payout ratio (DPR) is 31.93%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. DA Davidson raised their price objective on shares of 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. Janney Montgomery Scott initiated coverage on shares of Burke & Herbert Financial Services in a research note on Thursday, July 10th. They set a "buy" rating and a $70.00 price target on the stock. Keefe, Bruyette & Woods increased their price objective on shares of Burke & Herbert Financial Services from $70.00 to $72.00 and gave the stock an "outperform" rating in a research note on Monday, July 28th. Finally, Wall Street Zen downgraded shares of Burke & Herbert Financial Services from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Three research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $71.67.

About Burke & Herbert Financial Services

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.