Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. raised its position in shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) by 1.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 110,559 shares of the company’s stock after buying an additional 2,078 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.74% of Burke & Herbert Financial Services worth $6,894,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Barclays PLC boosted its position in Burke & Herbert Financial Services by 204.0% during the 3rd quarter. Barclays PLC now owns 22,225 shares of the company’s stock valued at $1,357,000 after purchasing an additional 14,915 shares during the period. State Street Corp boosted its holdings in shares of Burke & Herbert Financial Services by 9.9% during the third quarter. State Street Corp now owns 289,576 shares of the company’s stock valued at $17,661,000 after acquiring an additional 26,191 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Burke & Herbert Financial Services during the third quarter worth about $1,005,000. JPMorgan Chase & Co. increased its holdings in shares of Burke & Herbert Financial Services by 481.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 33,199 shares of the company’s stock worth $2,025,000 after acquiring an additional 27,490 shares during the period. Finally, Geode Capital Management LLC lifted its position in Burke & Herbert Financial Services by 5.2% in the 3rd quarter. Geode Capital Management LLC now owns 306,243 shares of the company’s stock valued at $18,681,000 after purchasing an additional 15,092 shares during the last quarter.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods upgraded Burke & Herbert Financial Services from a “market perform” rating to an “outperform” rating and cut their price objective for the company from $79.00 to $76.00 in a report on Monday, January 27th.

Burke & Herbert Financial Services Price Performance

Shares of NASDAQ:BHRB opened at $58.68 on Tuesday. The firm has a market cap of $879.20 million and a price-to-earnings ratio of 24.45. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.15. Burke & Herbert Financial Services Corp. has a 1 year low of $46.00 and a 1 year high of $75.32. The business has a fifty day simple moving average of $61.93 and a 200 day simple moving average of $63.61.

Burke & Herbert Financial Services (NASDAQ:BHRB) last issued its quarterly earnings data on Friday, January 24th. The company reported $1.77 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.77. Burke & Herbert Financial Services had a return on equity of 15.15% and a net margin of 8.88%. As a group, sell-side analysts predict 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 announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 3.75%. The ex-dividend date was Friday, February 14th. Burke & Herbert Financial Services’s payout ratio is currently 91.67%.

Insider Activity at Burke & Herbert Financial Services

In other Burke & Herbert Financial Services news, Director Shawn Patrick Mclaughlin acquired 1,000 shares of Burke & Herbert Financial Services stock in a transaction dated Wednesday, January 29th. The stock was bought at an average cost of $63.00 per share, with a total value of $63,000.00. Following the acquisition, the director now owns 62,000 shares of the company’s stock, valued at approximately $3,906,000. The trade was a 1.64 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gary L. Hinkle acquired 3,000 shares of the firm’s stock in a transaction on Monday, February 10th. The shares were bought at an average cost of $64.97 per share, for a total transaction of $194,910.00. Following the completion of the acquisition, the director now directly owns 248,459 shares of the company’s stock, valued at approximately $16,142,381.23. This represents a 1.22 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought 19,140 shares of company stock worth $1,195,743 over the last three months. Company insiders own 9.65% of the company’s stock.

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.