Wealth Enhancement Advisory Services LLC Acquires New Stake in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB)

Wealth Enhancement Advisory Services LLC acquired a new position in shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 6,107 shares of the company's stock, valued at approximately $381,000.

A number of other institutional investors also recently bought and sold shares of the business. Sterling Capital Management LLC lifted its stake in shares of Burke & Herbert Financial Services by 841.3% in the 4th quarter. Sterling Capital Management LLC now owns 433 shares of the company's stock worth $27,000 after acquiring an additional 387 shares during the period. Tower Research Capital LLC TRC lifted its position 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 purchasing an additional 936 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in Burke & Herbert Financial Services in the 4th quarter valued at approximately $156,000. Squarepoint Ops LLC acquired a new position in Burke & Herbert Financial Services during the 4th quarter worth approximately $218,000. Finally, ProShare Advisors LLC acquired a new position in Burke & Herbert Financial Services during the 4th quarter worth approximately $238,000.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Wall Street Zen raised Burke & Herbert Financial Services from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. Keefe, Bruyette & Woods reduced their target price on Burke & Herbert Financial Services from $73.00 to $70.00 and set an "outperform" rating for the company in a report on Tuesday, April 29th.

Burke & Herbert Financial Services Price Performance

BHRB stock traded down $0.94 during trading on Tuesday, reaching $56.10. 69,745 shares of the company were exchanged, compared to its average volume of 49,952. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.83 and a current ratio of 0.83. The stock's 50 day moving average price is $55.17 and its 200 day moving average price is $59.48. Burke & Herbert Financial Services Corp. has a 52-week low of $47.28 and a 52-week high of $75.32. The company has a market cap of $842.06 million and a P/E ratio of 15.98.

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

Burke & Herbert Financial Services Dividend Announcement

The company also recently announced 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 annualized dividend and a yield of 3.92%. The ex-dividend date was Thursday, May 15th. Burke & Herbert Financial Services's dividend payout ratio (DPR) is 62.68%.

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

Insider Buying and Selling at Burke & Herbert Financial Services

In other Burke & Herbert Financial Services news, Director Jose David Riojas acquired 500 shares of the stock in a transaction that occurred on Thursday, June 5th. The shares were purchased at an average cost of $55.85 per share, with a total value of $27,925.00. Following the purchase, the director now owns 19,000 shares in the company, valued at approximately $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 SEC, which is available through the SEC website. Also, Director Shawn Patrick Mclaughlin bought 1,000 shares of the company's stock in a transaction on Wednesday, May 7th. The shares were acquired at an average price of $56.50 per share, with a total value of $56,500.00. Following the completion of the acquisition, the director now directly owns 64,000 shares in the company, valued at $3,616,000. This represents a 1.59% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 10,302 shares of company stock valued at $560,535. Insiders own 10.92% of the company's stock.

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.