30,715 Shares in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Purchased by Segall Bryant & Hamill LLC

Segall Bryant & Hamill LLC bought a new position in shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 30,715 shares of the company's stock, valued at approximately $1,723,000. Segall Bryant & Hamill LLC owned about 0.20% of Burke & Herbert Financial Services as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Larson Financial Group LLC bought a new stake in Burke & Herbert Financial Services during the first quarter worth $141,000. AA Financial Advisors LLC purchased a new stake in shares of Burke & Herbert Financial Services in the first quarter worth $1,749,000. Delphi Management Inc. MA boosted its holdings 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 in the last quarter. GAMMA Investing LLC increased its holdings in shares of Burke & Herbert Financial Services by 14,181.8% in the first quarter. GAMMA Investing LLC now owns 6,284 shares of the company's stock worth $353,000 after buying an additional 6,240 shares during the period. Finally, Wealth Enhancement Advisory Services LLC bought a new position in Burke & Herbert Financial Services during the 4th quarter valued at approximately $381,000.

Burke & Herbert Financial Services Stock Performance

Shares of Burke & Herbert Financial Services stock traded down $0.22 during trading on Monday, reaching $64.09. The company's stock had a trading volume of 29,501 shares, compared to its average volume of 53,976. Burke & Herbert Financial Services Corp. has a 52 week low of $47.57 and a 52 week high of $75.32. The business's 50-day moving average price is $59.17 and its 200-day moving average price is $58.60. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.15. The firm has a market cap of $961.99 million, a PE ratio of 18.26 and a beta of 1.21.

Burke & Herbert Financial Services (NASDAQ:BHRB - Get Free Report) last announced its quarterly earnings data on Friday, April 25th. The company reported $1.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.78 by $0.02. The business had revenue of $83.01 million for the quarter, compared to analysts' expectations of $85.50 million. Burke & Herbert Financial Services had a return on equity of 15.20% and a net margin of 12.02%. Equities analysts forecast that Burke & Herbert Financial Services Corp. will post 8.05 earnings per share for the current year.

Burke & Herbert Financial Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Thursday, May 15th were issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date was Thursday, May 15th. Burke & Herbert Financial Services's payout ratio is presently 62.68%.

Burke & Herbert Financial Services announced that its board has authorized a share repurchase plan on Friday, April 25th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 6.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management believes its shares are undervalued.

Analyst Ratings Changes

Several equities analysts have recently weighed in on BHRB shares. Janney Montgomery Scott initiated coverage on Burke & Herbert Financial Services in a report on Thursday, July 10th. They set a "buy" rating and a $70.00 price target on the stock. Keefe, Bruyette & Woods reduced their price objective on shares of Burke & Herbert Financial Services from $73.00 to $70.00 and set an "outperform" rating for the company in a research note on Tuesday, April 29th. Finally, Wall Street Zen raised Burke & Herbert Financial Services from a "hold" rating to a "buy" rating in a research report on Sunday, July 13th.

Insider Buying and Selling at Burke & Herbert Financial Services

In other news, Director Samuel Laing Hinson III purchased 4,802 shares of the business's stock in a transaction on Friday, May 23rd. The shares were bought at an average price of $55.00 per share, with a total value of $264,110.00. Following the completion of the transaction, the director directly owned 33,602 shares in the company, valued at approximately $1,848,110. This represents a 16.67% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Shawn Patrick Mclaughlin acquired 1,000 shares of Burke & Herbert Financial Services stock in a transaction that occurred on Wednesday, May 7th. The shares were purchased at an average cost of $56.50 per share, with a total value of $56,500.00. Following the completion of the acquisition, the director owned 64,000 shares of the company's stock, valued at $3,616,000. The trade was a 1.59% increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 10,302 shares of company stock worth $560,535 in the last three months. 10.92% of the stock is owned by corporate insiders.

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.