Insider Selling: Burke & Herbert Financial Services (NASDAQ:BHRB) Director Sells $109,545.00 in Stock

Key Points

• Director James Mason Burke sold 1,500 shares of Burke & Herbert Financial Services at an average price of $73.03, generating $109,545. He retained 258,480 shares valued at approximately $18.9 million.
• BHRB shares rose 0.1% to $73.70, near their 52-week high of $75.08. The company reported quarterly EPS of $2.03, exceeding the $1.98 analyst consensus, while revenue of $106.89 million fell short of estimates.
• The company declared a quarterly dividend of $0.55 per share, equivalent to an annualized $2.20 payout and a 3.0% yield. Analysts’ average rating is Moderate Buy, with an average price target of $75.25.

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB - Get Free Report) Director James Mason Burke sold 1,500 shares of Burke & Herbert Financial Services stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $73.03, for a total transaction of $109,545.00. Following the transaction, the director owned 258,480 shares of the company's stock, valued at $18,876,794.40. The trade was a 0.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Burke & Herbert Financial Services Stock Up 0.1%

Shares of BHRB traded up $0.08 during mid-day trading on Wednesday, reaching $73.70. The company had a trading volume of 54,584 shares, compared to its average volume of 132,492. 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 $1.49 billion, a price-to-earnings ratio of 11.81 and a beta of 0.57. The firm has a 50-day moving average price of $69.77 and a 200 day moving average price of $66.28. Burke & Herbert Financial Services Corp. has a 52 week low of $57.42 and a 52 week 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 for the quarter, beating analysts' consensus estimates of $1.98 by $0.05. The company had revenue of $106.89 million during the quarter, compared to analyst estimates of $112.86 million. Burke & Herbert Financial Services had a return on equity of 15.11% and a net margin of 18.86%. On average, sell-side analysts forecast that Burke & Herbert Financial Services Corp. will post 8.19 EPS for the current year.

Burke & Herbert Financial Services Announces Dividend

The business 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 dividend of $0.55 per share. The ex-dividend date is Friday, August 14th. This represents a $2.20 annualized dividend and a dividend yield of 3.0%. Burke & Herbert Financial Services's dividend payout ratio (DPR) is presently 35.26%.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. bought a new stake in Burke & Herbert Financial Services in the 2nd quarter worth about $87,556,000. Vanguard Group Inc. grew its stake in shares of Burke & Herbert Financial Services by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 779,800 shares of the company's stock worth $48,589,000 after acquiring an additional 14,358 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Burke & Herbert Financial Services by 15.7% in the first quarter. Dimensional Fund Advisors LP now owns 367,948 shares of the company's stock worth $22,919,000 after acquiring an additional 49,957 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Burke & Herbert Financial Services by 68.5% during the fourth 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 last quarter. Finally, Endeavour Capital Advisors Inc. raised its holdings in shares of Burke & Herbert Financial Services by 22.0% during the fourth 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.

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.

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