Segall Bryant & Hamill LLC Invests $1.72 Million in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB)

Segall Bryant & Hamill LLC bought a new position in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of BHRB. Swiss National Bank increased its holdings in Burke & Herbert Financial Services by 1.1% in the fourth quarter. Swiss National Bank now owns 26,400 shares of the company's stock worth $1,646,000 after purchasing an additional 300 shares in the last quarter. Sterling Capital Management LLC increased its holdings in Burke & Herbert Financial Services by 841.3% in the fourth quarter. Sterling Capital Management LLC now owns 433 shares of the company's stock worth $27,000 after purchasing an additional 387 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Burke & Herbert Financial Services by 7.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,711 shares of the company's stock worth $481,000 after purchasing an additional 535 shares in the last quarter. MetLife Investment Management LLC increased its holdings in Burke & Herbert Financial Services by 7.6% in the fourth quarter. MetLife Investment Management LLC now owns 8,214 shares of the company's stock worth $512,000 after purchasing an additional 577 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in Burke & Herbert Financial Services by 227.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,347 shares of the company's stock valued at $84,000 after acquiring an additional 936 shares during the period.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other news, Director Jose David Riojas bought 500 shares of Burke & Herbert Financial Services stock in a transaction on Thursday, June 5th. The stock was acquired at an average price of $55.85 per share, with a total value of $27,925.00. Following the completion of the acquisition, the director directly owned 19,000 shares of the company's stock, valued at $1,061,150. The trade was a 2.70% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Samuel Laing Hinson III purchased 4,802 shares of the business's stock in a transaction that occurred on Friday, May 23rd. The stock was bought at an average cost of $55.00 per share, with a total value of $264,110.00. Following the acquisition, the director owned 33,602 shares of the company's stock, valued at approximately $1,848,110. The trade was a 16.67% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 10,302 shares of company stock worth $560,535 in the last ninety days. 10.92% of the stock is owned by insiders.

Burke & Herbert Financial Services Stock Performance

NASDAQ:BHRB traded up $0.72 on Wednesday, hitting $64.94. The stock had a trading volume of 34,484 shares, compared to its average volume of 53,788. The business's 50-day simple moving average is $59.53 and its two-hundred day simple moving average is $58.70. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.15. Burke & Herbert Financial Services Corp. has a 52-week low of $47.57 and a 52-week high of $75.32. The stock has a market cap of $974.75 million, a price-to-earnings ratio of 18.50 and a beta of 1.21.

Burke & Herbert Financial Services (NASDAQ:BHRB - Get Free Report) last announced its earnings results on Friday, April 25th. The company reported $1.80 EPS for the quarter, topping analysts' consensus estimates of $1.78 by $0.02. The firm had revenue of $83.01 million during 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%. As a group, research analysts predict that Burke & Herbert Financial Services Corp. will post 8.05 earnings per share for the current year.

Burke & Herbert Financial Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Thursday, May 15th were paid a dividend of $0.55 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $2.20 annualized dividend and a yield of 3.39%. Burke & Herbert Financial Services's dividend payout ratio (DPR) is 62.68%.

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

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.