Insider Selling: Burke & Herbert Financial Services (NASDAQ:BHRB) Director Sells 1,112 Shares of Stock

Key Points

• Director Jill Upson sold 1,112 shares of Burke & Herbert Financial Services at an average price of $63.30, a transaction worth about $70,390. Her holdings fell by 35.73% to 2,000 shares.
• The stock was slightly higher on Thursday, trading up 0.4% to $63.45, near its 50-day moving average and below its 200-day moving average.
• The company recently maintained its earnings pace and dividend, reporting quarterly EPS in line with estimates and declaring a $0.55 quarterly dividend, equal to a 3.5% annualized yield.

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB - Get Free Report) Director Jill Upson sold 1,112 shares of the company's stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $63.30, for a total value of $70,389.60. Following the transaction, the director owned 2,000 shares in the company, valued at $126,600. This trade represents a 35.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Burke & Herbert Financial Services Stock Up 0.4%

Shares of Burke & Herbert Financial Services stock traded up $0.25 during midday trading on Thursday, hitting $63.45. The company had a trading volume of 35,329 shares, compared to its average volume of 105,743. The company has a 50 day moving average of $63.16 and a 200 day moving average of $64.27. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.78 and a current ratio of 0.78. Burke & Herbert Financial Services Corp. has a 52-week low of $54.45 and a 52-week high of $70.90. The stock has a market capitalization of $1.28 billion, a P/E ratio of 8.23 and a beta of 0.74.

Burke & Herbert Financial Services (NASDAQ:BHRB - Get Free Report) last announced its earnings results on Thursday, April 23rd. The company reported $1.87 EPS for the quarter, hitting analysts' consensus estimates of $1.87. Burke & Herbert Financial Services had a return on equity of 14.46% and a net margin of 24.04%.The company had revenue of $84.70 million for the quarter, compared to analysts' expectations of $86.50 million. On average, equities analysts predict that Burke & Herbert Financial Services Corp. will post 8.33 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 Monday, June 1st. Shareholders of record on Friday, May 15th will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Friday, May 15th. Burke & Herbert Financial Services's payout ratio is 28.53%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on BHRB. Citigroup downgraded shares of Burke & Herbert Financial Services to a "hold" rating in a research note on Wednesday, February 25th. Freedom Capital upgraded shares of Burke & Herbert Financial Services from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 15th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Burke & Herbert Financial Services in a report on Friday, May 8th. Loop Capital set a $74.00 price objective on shares of Burke & Herbert Financial Services in a research report on Wednesday, February 25th. Finally, DA Davidson restated a "neutral" rating and issued a $70.00 price objective on shares of Burke & Herbert Financial Services in a report on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $71.40.

Institutional Trading of Burke & Herbert Financial Services

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Goldman Sachs Group Inc. raised its position in shares of Burke & Herbert Financial Services by 68.5% in 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 period. Bridgeway Capital Management LLC boosted its stake in shares of Burke & Herbert Financial Services by 235.4% in the 4th quarter. Bridgeway Capital Management LLC now owns 81,653 shares of the company's stock valued at $5,088,000 after purchasing an additional 57,306 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Burke & Herbert Financial Services by 15.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 367,948 shares of the company's stock valued at $22,919,000 after purchasing an additional 49,957 shares in the last quarter. Endeavour Capital Advisors Inc. raised its holdings in shares of Burke & Herbert Financial Services by 65.9% in the third quarter. Endeavour Capital Advisors Inc. now owns 102,722 shares of the company's stock valued at $6,337,000 after buying an additional 40,809 shares during the last quarter. Finally, Empowered Funds LLC raised its holdings in Burke & Herbert Financial Services by 122.0% during the 4th quarter. Empowered Funds LLC now owns 46,053 shares of the company's stock worth $2,870,000 after purchasing an additional 25,306 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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