Rhumbline Advisers Purchases 341 Shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB)

Rhumbline Advisers grew its holdings in shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) by 1.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 18,548 shares of the company’s stock after buying an additional 341 shares during the quarter. Rhumbline Advisers owned 0.12% of Burke & Herbert Financial Services worth $1,157,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quantbot Technologies LP bought a new position in Burke & Herbert Financial Services in the 3rd quarter valued at $118,000. SG Americas Securities LLC grew its holdings in shares of Burke & Herbert Financial Services by 49.8% in the fourth quarter. SG Americas Securities LLC now owns 7,591 shares of the company’s stock worth $473,000 after purchasing an additional 2,524 shares during the last quarter. Quest Partners LLC purchased a new position in Burke & Herbert Financial Services in the 3rd quarter worth about $478,000. Virtu Financial LLC purchased a new position in Burke & Herbert Financial Services in the 3rd quarter worth about $526,000. Finally, Mittelman Wealth Management bought a new stake in Burke & Herbert Financial Services during the 3rd quarter valued at about $659,000.

Analyst Upgrades and Downgrades

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

Insider Activity

In related news, Director Shawn Patrick Mclaughlin purchased 1,000 shares of Burke & Herbert Financial Services stock in a transaction dated Wednesday, January 29th. The stock was purchased at an average cost of $63.00 per share, with a total value of $63,000.00. Following the transaction, 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Julian Forrest Jr. Barnwell acquired 3,000 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The shares were bought at an average cost of $68.75 per share, for a total transaction of $206,250.00. Following the transaction, the director now owns 182,939 shares of the company’s stock, valued at $12,577,056.25. This represents a 1.67 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 17,555 shares of company stock worth $1,134,379. Corporate insiders own 9.65% of the company’s stock.

Burke & Herbert Financial Services Trading Down 0.4 %

Shares of NASDAQ BHRB opened at $61.06 on Thursday. Burke & Herbert Financial Services Corp. has a twelve month low of $46.00 and a twelve month high of $75.32. The firm has a market cap of $913.95 million and a PE ratio of 25.44. The business has a fifty day simple moving average of $62.36 and a two-hundred day simple moving average of $64.19. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.15.

Burke & Herbert Financial Services (NASDAQ:BHRB) last released its quarterly earnings data on Friday, January 24th. The company reported $1.77 earnings per share for the quarter, meeting the consensus estimate of $1.77. Burke & Herbert Financial Services had a return on equity of 15.15% and a net margin of 8.88%. Analysts expect 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 firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were given a $0.55 dividend. The ex-dividend date was Friday, February 14th. This represents a $2.20 annualized dividend and a dividend yield of 3.60%. Burke & Herbert Financial Services’s payout ratio is presently 91.67%.

Burke & Herbert Financial Services Profile

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.