Insider Selling: Burke & Herbert Financial Services (NASDAQ:BHRB) Director Sells 1,000 Shares

Key Points

• Director sale: Burke & Herbert Financial Services Director Georgette George sold 1,000 shares for approximately $73,670, reducing her direct holdings by 2.54% to 38,321 shares.
• Stock and earnings: BHRB shares rose 1.6% to $74.81, near their 52-week high, after the company reported quarterly EPS of $2.03, beating estimates by $0.05, though revenue fell short of expectations.
• Dividend and outlook: The company declared a quarterly dividend of $0.55, equivalent to a 2.9% yield, while analysts maintain a “Moderate Buy” consensus with an average price target of $75.25.

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB - Get Free Report) Director Georgette George sold 1,000 shares of the firm's stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $73.67, for a total value of $73,670.00. Following the sale, the director directly owned 38,321 shares in the company, valued at approximately $2,823,108.07. This represents a 2.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Burke & Herbert Financial Services Stock Up 1.6%

NASDAQ BHRB traded up $1.17 during trading hours on Tuesday, reaching $74.81. 97,934 shares of the company's stock were exchanged, compared to its average volume of 133,547. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.78 and a current ratio of 0.78. The company has a market capitalization of $1.51 billion, a price-to-earnings ratio of 12.00 and a beta of 0.57. The company's 50-day moving average is $68.53 and its two-hundred day moving average is $65.90. Burke & Herbert Financial Services Corp. has a one year low of $56.11 and a one year high of $75.09.

Burke & Herbert Financial Services (NASDAQ:BHRB - Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The company reported $2.03 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.05. Burke & Herbert Financial Services had a net margin of 18.86% and a return on equity of 15.11%. The company had revenue of $106.90 million during the quarter, compared to analysts' expectations of $112.86 million. On average, analysts forecast that Burke & Herbert Financial Services Corp. will post 8.19 EPS for the current fiscal year.

Burke & Herbert Financial Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Friday, August 14th. Burke & Herbert Financial Services's payout ratio is 35.26%.

Hedge Funds Weigh In On Burke & Herbert Financial Services

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Burke & Herbert Financial Services by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 779,800 shares of the company's stock valued at $48,589,000 after acquiring an additional 14,358 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Burke & Herbert Financial Services by 15.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 367,948 shares of the company's stock worth $22,919,000 after purchasing an additional 49,957 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Burke & Herbert Financial Services by 68.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 164,263 shares of the company's stock valued at $10,235,000 after purchasing an additional 66,778 shares during the period. Endeavour Capital Advisors Inc. lifted its stake in Burke & Herbert Financial Services by 22.0% in the 4th quarter. Endeavour Capital Advisors Inc. now owns 125,323 shares of the company's stock valued at $7,809,000 after purchasing an additional 22,601 shares during the last quarter. Finally, Marshall Wace LLP lifted its stake in Burke & Herbert Financial Services by 18.6% in the 2nd quarter. Marshall Wace LLP now owns 90,664 shares of the company's stock valued at $5,415,000 after purchasing an additional 14,217 shares during the last quarter.

Analyst Ratings Changes

Several equities research analysts have commented on BHRB shares. Weiss Ratings upgraded Burke & Herbert Financial Services from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, June 29th. Wall Street Zen downgraded shares of Burke & Herbert Financial Services from a "hold" rating to a "sell" rating in a report on Saturday. Keefe, Bruyette & Woods boosted their price objective on shares of Burke & Herbert Financial Services from $80.00 to $81.00 and gave the stock an "outperform" rating in a research report on Friday. DA Davidson set a $75.00 target price on shares of Burke & Herbert Financial Services in a report on Monday, July 27th. Finally, Freedom Capital raised shares of Burke & Herbert Financial Services from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $75.25.

About Burke & Herbert Financial Services

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.