Vanguard Group Inc. Acquires 22,559 Shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB)

Vanguard Group Inc. grew its stake in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB - Free Report) by 3.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 732,163 shares of the company's stock after buying an additional 22,559 shares during the period. Vanguard Group Inc. owned approximately 4.89% of Burke & Herbert Financial Services worth $45,658,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. KLP Kapitalforvaltning AS bought a new stake in shares of Burke & Herbert Financial Services in the 4th quarter worth approximately $156,000. American Century Companies Inc. raised its position in Burke & Herbert Financial Services by 30.1% in the 4th 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. Intech Investment Management LLC acquired a new stake in shares of Burke & Herbert Financial Services in the fourth quarter valued at $278,000. Delphi Management Inc. MA bought a new stake in shares of Burke & Herbert Financial Services during the fourth quarter valued at approximately $283,000. Finally, Swiss National Bank raised its position in Burke & Herbert Financial Services by 1.1% in the 4th quarter. Swiss National Bank now owns 26,400 shares of the company's stock worth $1,646,000 after purchasing an additional 300 shares during the last quarter.

Analyst Upgrades and Downgrades

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

Burke & Herbert Financial Services Trading Up 1.0 %

Shares of Burke & Herbert Financial Services stock traded up $0.51 during trading on Thursday, hitting $49.85. 6,546 shares of the company were exchanged, compared to its average volume of 53,437. 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 firm's fifty day moving average price is $57.97 and its 200 day moving average price is $62.13. Burke & Herbert Financial Services Corp. has a 1-year low of $46.00 and a 1-year high of $75.32. The firm has a market capitalization of $746.83 million and a P/E ratio of 20.77.

Burke & Herbert Financial Services (NASDAQ:BHRB - Get Free Report) last issued its quarterly earnings data on Friday, January 24th. The company reported $1.77 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.77. Burke & Herbert Financial Services had a net margin of 8.88% and a return on equity of 15.15%. As a group, sell-side analysts expect that Burke & Herbert Financial Services Corp. will post 8.05 earnings per share for the current fiscal year.

Burke & Herbert Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were issued a $0.55 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.20 annualized dividend and a dividend yield of 4.41%. Burke & Herbert Financial Services's dividend payout ratio is currently 91.67%.

Insider Activity at Burke & Herbert Financial Services

In other news, Director Gary L. Hinkle bought 3,000 shares of the firm's stock in a transaction on Monday, February 10th. The shares were purchased at an average cost of $64.97 per share, with a total value of $194,910.00. Following the acquisition, the director now directly owns 248,459 shares in the company, valued at $16,142,381.23. This represents a 1.22 % 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 Shawn Patrick Mclaughlin purchased 1,000 shares of the firm's stock in a transaction dated Wednesday, January 29th. The stock was acquired at an average price of $63.00 per share, for a total transaction of $63,000.00. Following the purchase, the director now owns 62,000 shares in the company, valued at approximately $3,906,000. The trade was a 1.64 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 19,140 shares of company stock worth $1,195,743. Insiders own 9.65% of the company's stock.

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.