Vanguard Group Inc. Boosts Stake in 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. boosted its holdings in shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB - Free Report) by 1.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 740,512 shares of the company's stock after buying an additional 8,349 shares during the period. Vanguard Group Inc. owned approximately 4.94% of Burke & Herbert Financial Services worth $41,550,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in BHRB. Tower Research Capital LLC TRC boosted its stake 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 buying an additional 936 shares during the period. PNC Financial Services Group Inc. boosted its stake in Burke & Herbert Financial Services by 104.3% during the first quarter. PNC Financial Services Group Inc. now owns 1,802 shares of the company's stock valued at $101,000 after buying an additional 920 shares during the period. Larson Financial Group LLC bought a new stake in Burke & Herbert Financial Services during the first quarter valued at $141,000. Squarepoint Ops LLC bought a new stake in Burke & Herbert Financial Services during the fourth quarter valued at $218,000. Finally, ProShare Advisors LLC bought a new stake in Burke & Herbert Financial Services during the fourth quarter valued at $238,000.

Insider Buying and Selling

In other Burke & Herbert Financial Services news, Director Jose David Riojas purchased 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, with a total value of $27,925.00. Following the transaction, the director directly owned 19,000 shares of the company's stock, valued at approximately $1,061,150. This trade represents a 2.70% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 10.92% of the stock is owned by insiders.

Burke & Herbert Financial Services Trading Down 0.0%

Shares of NASDAQ BHRB traded down $0.01 during midday trading on Monday, reaching $63.56. The company had a trading volume of 35,465 shares, compared to its average volume of 49,808. Burke & Herbert Financial Services Corp. has a one year low of $47.57 and a one year high of $75.32. 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 firm's fifty day moving average price is $61.41 and its 200-day moving average price is $58.29. The stock has a market cap of $954.67 million, a PE ratio of 9.22 and a beta of 1.21.

Burke & Herbert Financial Services (NASDAQ:BHRB - Get Free Report) last released its earnings results on Thursday, July 24th. The company reported $1.97 earnings per share for the quarter, beating analysts' consensus estimates of $1.85 by $0.12. Burke & Herbert Financial Services had a return on equity of 15.39% and a net margin of 20.93%.The company had revenue of $87.11 million during the quarter, compared to analyst estimates of $86.06 million. On average, equities research analysts anticipate 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 declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, August 15th will be given a dividend of $0.55 per share. The ex-dividend date of this dividend 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 dividend payout ratio is presently 31.93%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Wall Street Zen downgraded Burke & Herbert Financial Services from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. DA Davidson raised their price target on Burke & Herbert Financial Services from $69.00 to $73.00 and gave the company a "buy" rating in a research report on Monday, July 28th. Janney Montgomery Scott assumed coverage on Burke & Herbert Financial Services in a research report on Thursday, July 10th. They set a "buy" rating and a $70.00 price target on the stock. Finally, Keefe, Bruyette & Woods raised their price target on Burke & Herbert Financial Services from $70.00 to $72.00 and gave the company an "outperform" rating in a research report on Monday, July 28th. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Burke & Herbert Financial Services currently has an average rating of "Buy" and a consensus target price of $71.67.

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.