The Manufacturers Life Insurance Company Takes Position in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB)

The Manufacturers Life Insurance Company bought a new stake in shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) during the 2nd quarter, according to its most recent filing with the SEC. The fund bought 5,086 shares of the company’s stock, valued at approximately $259,000.

Other institutional investors have also made changes to their positions in the company. HHM Wealth Advisors LLC acquired a new stake in shares of Burke & Herbert Financial Services during the 2nd quarter valued at about $29,000. Fortitude Family Office LLC boosted its position in shares of Burke & Herbert Financial Services by 1,666.0% during the 2nd quarter. Fortitude Family Office LLC now owns 936 shares of the company’s stock valued at $48,000 after acquiring an additional 883 shares in the last quarter. LSV Asset Management acquired a new stake in shares of Burke & Herbert Financial Services during the 2nd quarter valued at about $108,000. TIAA Trust National Association acquired a new stake in shares of Burke & Herbert Financial Services during the 2nd quarter valued at about $213,000. Finally, Burney Co. acquired a new stake in shares of Burke & Herbert Financial Services during the 2nd quarter valued at about $246,000.

Insiders Place Their Bets

In related news, Director Gary L. Hinkle bought 5,000 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was bought at an average cost of $68.09 per share, with a total value of $340,450.00. Following the completion of the purchase, the director now owns 233,155 shares in the company, valued at approximately $15,875,523.95. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 9.65% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Keefe, Bruyette & Woods lifted their price target on shares of Burke & Herbert Financial Services from $66.00 to $73.00 and gave the company a “market perform” rating in a report on Monday, July 29th. DA Davidson assumed coverage on shares of Burke & Herbert Financial Services in a report on Wednesday. They set a “buy” rating and a $76.00 price target for the company.

Burke & Herbert Financial Services Trading Down 1.3 %

Shares of BHRB stock opened at $63.73 on Friday. Burke & Herbert Financial Services Corp. has a 12-month low of $42.91 and a 12-month high of $70.00. The company has a market capitalization of $946.26 million and a P/E ratio of 7.58. The firm has a 50-day moving average price of $62.78 and a 200 day moving average price of $56.44. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.16.

Burke & Herbert Financial Services (NASDAQ:BHRB) last announced its earnings results on Friday, July 26th. The company reported $2.04 earnings per share for the quarter. Burke & Herbert Financial Services had a negative net margin of 1.10% and a positive return on equity of 9.96%. The company had revenue of $69.27 million during the quarter.

Burke & Herbert Financial Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date was Thursday, August 15th. Burke & Herbert Financial Services’s dividend payout ratio is presently 25.21%.

Burke & Herbert Financial Services Profile

Burke & Herbert Financial Services Corp. operates as the bank holding company for Burke & Herbert Bank & Trust Company that provides various community banking products and services in Virginia and Maryland. It offers consumer and commercial deposit products, such as digital banking, demand, negotiable order of withdrawal, money market, and savings accounts, as well as certificates of deposit.