Legal & General Group Plc purchased a new position in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 16,074 shares of the company's stock, valued at approximately $1,151,000. Legal & General Group Plc owned approximately 0.08% of Burke & Herbert Financial Services at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Burke & Herbert Financial Services by 4.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,030 shares of the company's stock valued at $451,000 after purchasing an additional 319 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Burke & Herbert Financial Services by 16.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 71,849 shares of the company's stock valued at $4,031,000 after buying an additional 10,117 shares during the period. Jane Street Group LLC bought a new stake in Burke & Herbert Financial Services in the first quarter worth $1,287,000. JPMorgan Chase & Co. boosted its stake in Burke & Herbert Financial Services by 32.2% during the second quarter. JPMorgan Chase & Co. now owns 49,511 shares of the company's stock worth $2,957,000 after buying an additional 12,057 shares during the period. Finally, Rhumbline Advisers increased its position in Burke & Herbert Financial Services by 1.7% during the second quarter. Rhumbline Advisers now owns 17,961 shares of the company's stock valued at $1,073,000 after acquiring an additional 298 shares during the last quarter.
Insider Buying and Selling
In other Burke & Herbert Financial Services news, Director Georgette R. George sold 1,000 shares of Burke & Herbert Financial Services stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $73.67, for a total value of $73,670.00. Following the transaction, the director owned 38,321 shares in the company, valued at $2,823,108.07. The trade was a 2.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Diane Poillon bought 1,200 shares of Burke & Herbert Financial Services stock in a transaction on Wednesday, August 12th. The stock was purchased at an average price of $73.67 per share, with a total value of $88,404.00. Following the completion of the acquisition, the director directly owned 4,128 shares of the company's stock, valued at $304,109.76. This represents a 40.98% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders have purchased 1,369 shares of company stock worth $100,747 and have sold 5,650 shares worth $416,094. Insiders own 11.99% of the company's stock.
Burke & Herbert Financial Services Stock Performance
Shares of BHRB stock opened at $72.35 on Tuesday. The firm has a market cap of $1.46 billion, a price-to-earnings ratio of 11.59 and a beta of 0.56. Burke & Herbert Financial Services Corp. has a 52-week low of $57.42 and a 52-week high of $75.08. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13. The company's 50 day moving average is $71.91 and its 200 day moving average is $66.92.
Burke & Herbert Financial Services (NASDAQ:BHRB - Get Free Report) last posted its earnings results on Thursday, July 23rd. The company reported $2.03 earnings per share for the quarter, topping analysts' consensus estimates of $1.98 by $0.05. Burke & Herbert Financial Services had a return on equity of 13.66% and a net margin of 18.86%.The company had revenue of $106.89 million during the quarter, compared to analyst estimates of $112.86 million. On average, sell-side analysts anticipate that Burke & Herbert Financial Services Corp. will post 8.19 EPS for the current fiscal year.
Burke & Herbert Financial Services Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Friday, August 14th were given a dividend of $0.55 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $2.20 dividend on an annualized basis and a yield of 3.0%. Burke & Herbert Financial Services's dividend payout ratio (DPR) is presently 35.26%.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on BHRB shares. DA Davidson set a $75.00 price objective on shares of Burke & Herbert Financial Services in a research report on Monday, July 27th. Keefe, Bruyette & Woods upped their target price on Burke & Herbert Financial Services from $80.00 to $81.00 and gave the company an "outperform" rating in a research note on Friday, July 31st. Freedom Capital raised Burke & Herbert Financial Services from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 15th. Weiss Ratings raised Burke & Herbert Financial Services from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, August 12th. Finally, Wall Street Zen upgraded Burke & Herbert Financial Services from a "sell" rating to a "hold" rating in a research note on Sunday, August 9th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $75.25.
Check Out Our Latest Stock Report on Burke & Herbert Financial Services
About Burke & Herbert Financial Services
(
Free Report)
Burke & Herbert Financial Services, Inc is a bank holding company headquartered in Alexandria, Virginia, and the parent company of Burke & Herbert Bank. The company operates as a community‐focused financial institution, offering a full suite of commercial and consumer banking products to individuals, small businesses, and nonprofit organizations in the Washington, DC metropolitan area.
The company’s core banking services include traditional deposit accounts such as checking, savings, money market and certificates of deposit, alongside digital banking platforms for online and mobile account access.
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