Vanguard Group Inc. Purchases 8,349 Shares of Burke & Herbert Financial Services Corp. $BHRB

Key Points

• Vanguard Group Inc. increased its stake in Burke & Herbert Financial Services Corp. by 1.1%, owning 740,512 shares valued at approximately $41.55 million.
• The company reported earnings of $1.97 per share, surpassing analysts' expectations of $1.85, with a revenue of $87.11 million.
• Burke & Herbert Financial Services recently declared a quarterly dividend of $0.55, resulting in an annualized dividend yield of 3.5% and a payout ratio of 31.93%.

Vanguard Group Inc. increased its stake in shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB - Free Report) by 1.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 740,512 shares of the company's stock after acquiring an additional 8,349 shares during the quarter. Vanguard Group Inc. owned approximately 4.94% of Burke & Herbert Financial Services worth $41,550,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. PNC Financial Services Group Inc. grew its position in Burke & Herbert Financial Services by 104.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,802 shares of the company's stock worth $101,000 after acquiring an additional 920 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in Burke & Herbert Financial Services during the 1st quarter valued at $267,000. Verdence Capital Advisors LLC raised its holdings in Burke & Herbert Financial Services by 4.9% during the 1st quarter. Verdence Capital Advisors LLC now owns 71,707 shares of the company's stock valued at $4,023,000 after buying an additional 3,323 shares during the last quarter. Segall Bryant & Hamill LLC bought a new stake in Burke & Herbert Financial Services during the 1st quarter valued at $1,723,000. Finally, Larson Financial Group LLC bought a new stake in Burke & Herbert Financial Services during the 1st quarter valued at $141,000.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on BHRB shares. Keefe, Bruyette & Woods upped their price target on shares of Burke & Herbert Financial Services from $70.00 to $72.00 and gave the company an "outperform" rating in a report on Monday, July 28th. DA Davidson increased their price objective on Burke & Herbert Financial Services from $69.00 to $73.00 and gave the stock a "buy" rating in a report on Monday, July 28th. Janney Montgomery Scott initiated coverage on Burke & Herbert Financial Services in a report on Thursday, July 10th. They issued a "buy" rating and a $70.00 price objective for the company. Finally, Wall Street Zen cut Burke & Herbert Financial Services from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Three analysts have rated the stock with a Buy rating, According to MarketBeat, Burke & Herbert Financial Services presently has an average rating of "Buy" and a consensus target price of $71.67.

Insider Transactions at Burke & Herbert Financial Services

In related news, Director Jose David Riojas acquired 500 shares of the stock in a transaction on Thursday, June 5th. The stock was acquired at an average price of $55.85 per share, for a total transaction of $27,925.00. Following the completion of the purchase, the director owned 19,000 shares of the company's stock, valued at $1,061,150. This represents a 2.70% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 10.92% of the company's stock.

Burke & Herbert Financial Services Stock Down 0.0%

Shares of BHRB traded down $0.01 on Friday, reaching $63.56. The stock had a trading volume of 35,465 shares, compared to its average volume of 51,085. The firm has a market capitalization of $954.67 million, a price-to-earnings ratio of 9.22 and a beta of 1.18. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.82 and a current ratio of 0.82. The company has a 50-day simple moving average of $61.30 and a 200-day simple moving average of $58.33. Burke & Herbert Financial Services Corp. has a 12-month low of $47.57 and a 12-month 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, beating analysts' consensus estimates of $1.85 by $0.12. The company had revenue of $87.11 million during the quarter, compared to analysts' expectations of $86.06 million. Burke & Herbert Financial Services had a return on equity of 15.39% and a net margin of 20.93%. Sell-side analysts predict that Burke & Herbert Financial Services Corp. will post 8.05 EPS for the current year.

Burke & Herbert Financial Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, August 15th will be paid a dividend of $0.55 per share. The ex-dividend date is Friday, August 15th. This represents a $2.20 dividend on an annualized basis and a yield of 3.5%. Burke & Herbert Financial Services's payout ratio is presently 31.93%.

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.