Insider Buying: Burke & Herbert Financial Services (NASDAQ:BHRB) Director Acquires 500 Shares of Stock

Key Points

• Director insider buying: Shawn Mclaughlin purchased 500 Burke & Herbert Financial Services shares at $71 each, investing $35,500 and increasing his holdings to 71,500 shares.
• Latest performance: BHRB shares fell 0.7% to $70.59, while the company’s latest quarterly EPS of $2.14 exceeded analysts’ $2.05 estimate. Analysts maintain a “Moderate Buy” consensus with a $76.67 price target.
• Shareholder returns: The company declared a quarterly dividend of $0.55 per share, or $2.20 annualized, representing a 3.1% yield and a 36.36% payout ratio.

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB - Get Free Report) Director Shawn Mclaughlin bought 500 shares of the business's stock in a transaction on Thursday, October 29th. The stock was purchased at an average cost of $71.00 per share, with a total value of $35,500.00. Following the purchase, the director owned 71,500 shares of the company's stock, valued at $5,076,500. This represents a 0.70% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Burke & Herbert Financial Services Trading Down 0.7%

Shares of BHRB stock traded down $0.48 on Friday, hitting $70.59. 47,577 shares of the company's stock traded hands, compared to its average volume of 131,867. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84. Burke & Herbert Financial Services Corp. has a one year low of $58.01 and a one year high of $75.08. The company's fifty day simple moving average is $70.35 and its 200 day simple moving average is $67.43. The stock has a market capitalization of $1.43 billion, a price-to-earnings ratio of 11.67 and a beta of 0.58.

Burke & Herbert Financial Services (NASDAQ:BHRB - Get Free Report) last posted its quarterly earnings results on Thursday, October 22nd. The company reported $2.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.09. Burke & Herbert Financial Services had a return on equity of 14.54% and a net margin of 18.43%. The business had revenue of $119.74 million for the quarter, compared to analyst estimates of $121.32 million. Equities analysts forecast that Burke & Herbert Financial Services Corp. will post 8.09 EPS for the current year.

Burke & Herbert Financial Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Friday, November 13th will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Friday, November 13th. Burke & Herbert Financial Services's dividend payout ratio is 36.36%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on BHRB shares. Keefe, Bruyette & Woods lifted their price objective on Burke & Herbert Financial Services from $80.00 to $81.00 and gave the stock an "outperform" rating in a research report on Friday, July 31st. Wall Street Zen raised Burke & Herbert Financial Services from a "sell" rating to a "hold" rating in a research note on Sunday, August 9th. Weiss Ratings upgraded shares of Burke & Herbert Financial Services from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, August 12th. Finally, DA Davidson set a $75.00 price objective on shares of Burke & Herbert Financial Services in a research report on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $76.67.

Institutional Investors Weigh In On Burke & Herbert Financial Services

Hedge funds and other institutional investors have recently bought and sold shares of the business. State of Alaska Department of Revenue lifted its position in Burke & Herbert Financial Services by 33.3% during the third quarter. State of Alaska Department of Revenue now owns 808 shares of the company's stock valued at $55,000 after purchasing an additional 202 shares during the period. Arizona State Retirement System raised its stake in Burke & Herbert Financial Services by 23.1% during the 2nd quarter. Arizona State Retirement System now owns 4,575 shares of the company's stock valued at $329,000 after buying an additional 859 shares during the last quarter. Quantinno Capital Management LP raised its stake in Burke & Herbert Financial Services by 13.9% during the 1st quarter. Quantinno Capital Management LP now owns 9,439 shares of the company's stock valued at $588,000 after buying an additional 1,150 shares during the last quarter. Signaturefd LLC lifted its holdings in shares of Burke & Herbert Financial Services by 2,636.4% during the 3rd quarter. Signaturefd LLC now owns 1,505 shares of the company's stock valued at $103,000 after buying an additional 1,450 shares during the period. Finally, Y Intercept Hong Kong Ltd lifted its holdings in shares of Burke & Herbert Financial Services by 58.9% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 6,013 shares of the company's stock valued at $375,000 after buying an additional 2,230 shares during the period.

About Burke & Herbert Financial Services

Burke & Herbert Financial Services Corp. is the bank holding company for Burke & Herbert Bank & Trust Company, a community bank headquartered in Alexandria, Virginia. The bank traces its history to 1852 and serves consumers, businesses, nonprofit organizations and government-related entities in the Washington, DC, metropolitan region.

Burke & Herbert Bank provides traditional banking services, including checking and savings accounts, certificates of deposit, consumer loans, residential mortgages, commercial real estate financing and business loans.

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