Nuveen LLC Buys New Stake in Burke & Herbert Financial Services Corp. $BHRB

Key Points

• Nuveen LLC acquired 30,038 shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB), valued at approximately $1,685,000, during the first quarter, representing 0.20% ownership.
• Burke & Herbert Financial Services announced a quarterly dividend of $0.55 per share, with an annual yield of 3.5%, to be paid on September 2nd.
• Equities analysts are mixed on the stock, with ratings ranging from a downgrade to a "hold" by Wall Street Zen and upgrades resulting in target price increases by others, reflecting a consensus price target of $71.67.

Nuveen LLC acquired a new position 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 fund acquired 30,038 shares of the company's stock, valued at approximately $1,685,000. Nuveen LLC owned approximately 0.20% of Burke & Herbert Financial Services at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of BHRB. Tower Research Capital LLC TRC lifted its position in Burke & Herbert Financial Services by 227.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,347 shares of the company's stock valued at $84,000 after purchasing an additional 936 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in Burke & Herbert Financial Services by 104.3% in the first quarter. PNC Financial Services Group Inc. now owns 1,802 shares of the company's stock valued at $101,000 after acquiring an additional 920 shares during the last quarter. Larson Financial Group LLC bought a new position in Burke & Herbert Financial Services in the first quarter valued at $141,000. Squarepoint Ops LLC purchased a new stake in Burke & Herbert Financial Services during the fourth quarter valued at about $218,000. Finally, ProShare Advisors LLC bought a new stake in Burke & Herbert Financial Services during the fourth quarter worth about $238,000.

Burke & Herbert Financial Services Stock Performance

NASDAQ:BHRB traded down $0.22 during mid-day trading on Wednesday, hitting $62.77. 10,938 shares of the company traded hands, compared to its average volume of 53,976. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.15. The stock's fifty day moving average price is $61.50 and its 200-day moving average price is $58.32. The firm has a market cap of $942.73 million, a price-to-earnings ratio of 9.11 and a beta of 1.21. Burke & Herbert Financial Services Corp. has a one year low of $47.57 and a one year high of $75.32.

Burke & Herbert Financial Services (NASDAQ:BHRB - Get Free Report) last released its 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. The company had revenue of $87.11 million for the quarter, compared to analysts' expectations of $86.06 million. Burke & Herbert Financial Services had a net margin of 20.93% and a return on equity of 15.39%. Research analysts anticipate that Burke & Herbert Financial Services Corp. will post 8.05 earnings per share for the current fiscal year.

Burke & Herbert Financial Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Friday, August 15th were issued a dividend of $0.55 per share. 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 dividend payout ratio (DPR) is currently 31.93%.

Insider Activity at Burke & Herbert Financial Services

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

Analyst Ratings Changes

BHRB has been the topic of several recent research reports. DA Davidson increased their target price on shares of Burke & Herbert Financial Services from $69.00 to $73.00 and gave the company a "buy" rating in a report on Monday, July 28th. Keefe, Bruyette & Woods boosted their target price on Burke & Herbert Financial Services from $70.00 to $72.00 and gave the company an "outperform" rating in a research note 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. Finally, Janney Montgomery Scott began coverage on shares of Burke & Herbert Financial Services in a research report on Thursday, July 10th. They issued a "buy" rating and a $70.00 price objective on the stock. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average 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.