Trexquant Investment LP Acquires New Shares in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB)

Trexquant Investment LP purchased a new position in shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 5,890 shares of the company's stock, valued at approximately $367,000.

Other institutional investors have also recently bought and sold shares of the company. KLP Kapitalforvaltning AS bought a new position in shares of Burke & Herbert Financial Services during the 4th quarter worth approximately $156,000. Raymond James Financial Inc. bought a new position in Burke & Herbert Financial Services during the fourth quarter worth $274,000. Intech Investment Management LLC acquired a new position in shares of Burke & Herbert Financial Services in the fourth quarter valued at $278,000. Delphi Management Inc. MA bought a new position in shares of Burke & Herbert Financial Services in the fourth quarter valued at about $283,000. Finally, Truist Financial Corp bought a new position in shares of Burke & Herbert Financial Services in the fourth quarter valued at about $340,000.

Insiders Place Their Bets

In other news, Director Julian Forrest Jr. Barnwell bought 5,000 shares of the firm's stock in a transaction on Thursday, February 13th. The shares were purchased at an average cost of $63.75 per share, with a total value of $318,750.00. Following the acquisition, the director now directly owns 187,939 shares in the company, valued at $11,981,111.25. This represents a 2.73 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gary L. Hinkle purchased 1,000 shares of the business's stock in a transaction dated Friday, January 31st. The shares were purchased at an average cost of $64.48 per share, with a total value of $64,480.00. Following the acquisition, the director now owns 244,355 shares in the company, valued at $15,756,010.40. This trade represents a 0.41 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 19,140 shares of company stock worth $1,195,743 in the last 90 days. Company insiders own 9.65% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods upgraded shares of Burke & Herbert Financial Services from a "market perform" rating to an "outperform" rating and decreased their price target for the company from $79.00 to $76.00 in a research note on Monday, January 27th.

Burke & Herbert Financial Services Stock Performance

NASDAQ BHRB traded up $0.67 on Friday, reaching $50.01. The stock had a trading volume of 35,491 shares, compared to its average volume of 49,218. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.83 and a quick ratio of 0.83. The company has a market cap of $749.30 million and a P/E ratio of 20.84. The firm has a fifty day moving average of $57.38 and a two-hundred day moving average of $61.99. Burke & Herbert Financial Services Corp. has a 1-year low of $46.00 and a 1-year high of $75.32.

Burke & Herbert Financial Services (NASDAQ:BHRB - Get Free Report) last released its quarterly earnings results on Friday, January 24th. The company reported $1.77 EPS for the quarter, hitting analysts' consensus estimates of $1.77. Burke & Herbert Financial Services had a net margin of 8.88% and a return on equity of 15.15%. On average, equities research analysts anticipate that Burke & Herbert Financial Services Corp. will post 8.05 EPS for the current year.

Burke & Herbert Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 4.40%. The ex-dividend date of this dividend was Friday, February 14th. Burke & Herbert Financial Services's dividend payout ratio is currently 91.67%.

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.