Price T Rowe Associates Inc. MD Has $613,000 Stock Holdings in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB)

Price T Rowe Associates Inc. MD boosted its holdings in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB - Free Report) by 117.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,829 shares of the company's stock after acquiring an additional 5,319 shares during the period. Price T Rowe Associates Inc. MD owned 0.07% of Burke & Herbert Financial Services worth $613,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Barclays PLC grew its stake in Burke & Herbert Financial Services by 204.0% in the 3rd quarter. Barclays PLC now owns 22,225 shares of the company's stock valued at $1,357,000 after buying an additional 14,915 shares during the last quarter. Trexquant Investment LP bought a new stake in shares of Burke & Herbert Financial Services during the fourth quarter worth approximately $367,000. JPMorgan Chase & Co. grew its position in shares of Burke & Herbert Financial Services by 481.5% in the third quarter. JPMorgan Chase & Co. now owns 33,199 shares of the company's stock valued at $2,025,000 after purchasing an additional 27,490 shares during the last quarter. American Century Companies Inc. grew its position in shares of Burke & Herbert Financial Services by 30.1% in the fourth quarter. American Century Companies Inc. now owns 25,558 shares of the company's stock valued at $1,594,000 after purchasing an additional 5,917 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Burke & Herbert Financial Services by 1.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 110,559 shares of the company's stock worth $6,894,000 after purchasing an additional 2,078 shares during the last quarter.

Burke & Herbert Financial Services Stock Performance

NASDAQ:BHRB traded down $1.25 during mid-day trading on Friday, reaching $57.67. 36,906 shares of the company's stock were exchanged, compared to its average volume of 49,278. Burke & Herbert Financial Services Corp. has a one year low of $46.00 and a one year high of $75.32. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.83 and a current ratio of 0.83. The business's fifty day simple moving average is $54.65 and its two-hundred day simple moving average is $61.25. The firm has a market capitalization of $864.07 million and a PE ratio of 24.03.

Burke & Herbert Financial Services (NASDAQ:BHRB - Get Free Report) last announced its earnings results on Friday, April 25th. The company reported $1.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.78 by $0.02. Burke & Herbert Financial Services had a net margin of 8.88% and a return on equity of 15.15%. The firm had revenue of $83.01 million for the quarter, compared to analyst estimates of $85.50 million. Analysts anticipate that Burke & Herbert Financial Services Corp. will post 8.05 earnings per share for the current fiscal year.

Burke & Herbert Financial Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Thursday, May 15th will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 3.81%. The ex-dividend date is Thursday, May 15th. Burke & Herbert Financial Services's dividend payout ratio (DPR) is currently 62.68%.

Burke & Herbert Financial Services declared that its board has initiated a share buyback plan on Friday, April 25th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 6.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods decreased their price objective on Burke & Herbert Financial Services from $73.00 to $70.00 and set an "outperform" rating on the stock in a report on Tuesday, April 29th.

Insider Activity at Burke & Herbert Financial Services

In other Burke & Herbert Financial Services news, Director Julian Forrest Jr. Barnwell bought 2,000 shares of Burke & Herbert Financial Services stock in a transaction on Friday, February 21st. The shares were purchased at an average price of $62.50 per share, with a total value of $125,000.00. Following the acquisition, the director now owns 189,939 shares in the company, valued at $11,871,187.50. This trade represents a 1.06% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Shawn Patrick Mclaughlin purchased 1,000 shares of the stock in a transaction dated Wednesday, May 7th. The shares were acquired at an average cost of $56.50 per share, with a total value of $56,500.00. Following the acquisition, the director now directly owns 64,000 shares in the company, valued at $3,616,000. This represents a 1.59% increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 14,140 shares of company stock valued at $823,103 over the last quarter. 10.92% of the stock is owned by corporate insiders.

About Burke & Herbert Financial Services

Burke Herbert Financial Services Corp. is a bank holding company, which engages in the provision of banking products and financial services to small to medium-sized businesses, their owners and employees, professional corporations, non-profits, and individuals. It operates through the following loan portfolio segments: Commercial Real Estate, Owner-Occupied Commercial Real Estate, Acquisition, Construction, and Development, Commercial and Industrial, Single Family Residential (1-4 Units), and Consumer Non-Real Estate and Other.