Insider Buying: Burke & Herbert Financial Services (NASDAQ:BHRB) Director Buys 1,200 Shares of Stock

Key Points

• Director Diane Poillon bought 1,200 BHRB shares at an average price of $73.67, investing $88,404 and increasing her direct ownership by 40.98% to 4,128 shares.
• Burke & Herbert Financial Services reported quarterly EPS of $2.03, exceeding estimates of $1.98, while revenue of $106.89 million fell short of the $112.86 million consensus.
• The company declared a quarterly dividend of $0.55 per share, equivalent to $2.20 annually and a 3.0% yield; analysts maintain a “Moderate Buy” consensus with a $75.25 target price.

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB - Get Free Report) Director Diane Poillon acquired 1,200 shares of the stock in a transaction on Wednesday, August 12th. The stock was bought at an average price of $73.67 per share, with a total value of $88,404.00. Following the transaction, the director directly owned 4,128 shares in the company, valued at approximately $304,109.76. This represents a 40.98% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Burke & Herbert Financial Services Price Performance

BHRB opened at $73.20 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.78 and a quick ratio of 0.78. The stock has a market capitalization of $1.48 billion, a P/E ratio of 11.73 and a beta of 0.57. The company's 50 day simple moving average is $70.20 and its 200-day simple moving average is $66.40. Burke & Herbert Financial Services Corp. has a one year low of $57.42 and a one year high of $75.08.

Burke & Herbert Financial Services (NASDAQ:BHRB - Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The company reported $2.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.05. The firm had revenue of $106.89 million for the quarter, compared to the consensus estimate of $112.86 million. Burke & Herbert Financial Services had a return on equity of 15.11% and a net margin of 18.86%. Sell-side analysts anticipate that Burke & Herbert Financial Services Corp. will post 8.19 earnings per share for the current fiscal year.

Burke & Herbert Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be paid a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Friday, August 14th. Burke & Herbert Financial Services's dividend payout ratio (DPR) is 35.26%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on BHRB. Keefe, Bruyette & Woods boosted their price target on shares of Burke & Herbert Financial Services from $80.00 to $81.00 and gave the stock an "outperform" rating in a research note on Friday, July 31st. DA Davidson set a $75.00 price target on Burke & Herbert Financial Services in a research report on Monday, July 27th. Wall Street Zen upgraded Burke & Herbert Financial Services from a "sell" rating to a "hold" rating in a report on Sunday, August 9th. Freedom Capital upgraded Burke & Herbert Financial Services from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 15th. Finally, Weiss Ratings upgraded shares of Burke & Herbert Financial Services from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $75.25.

Institutional Trading of Burke & Herbert Financial Services

Large investors have recently bought and sold shares of the business. Kestra Advisory Services LLC acquired a new stake in Burke & Herbert Financial Services during the 4th quarter worth approximately $30,000. Aquatic Capital Management LLC bought a new stake in shares of Burke & Herbert Financial Services during the third quarter worth $117,000. Stonebridge Financial Group LLC acquired a new stake in shares of Burke & Herbert Financial Services during the second quarter worth $203,000. Tower Research Capital LLC TRC raised its holdings in shares of Burke & Herbert Financial Services by 585.5% during the second quarter. Tower Research Capital LLC TRC now owns 3,393 shares of the company's stock worth $203,000 after acquiring an additional 2,898 shares during the period. Finally, Sei Investments Co. bought a new stake in Burke & Herbert Financial Services in the 2nd quarter valued at $204,000.

Burke & Herbert Financial Services Company Profile

Burke & Herbert Financial Services, Inc is a bank holding company headquartered in Alexandria, Virginia, and the parent company of Burke & Herbert Bank. The company operates as a community‐focused financial institution, offering a full suite of commercial and consumer banking products to individuals, small businesses, and nonprofit organizations in the Washington, DC metropolitan area.

The company’s core banking services include traditional deposit accounts such as checking, savings, money market and certificates of deposit, alongside digital banking platforms for online and mobile account access.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source