Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Stake Lowered by Wealthspire Advisors LLC

Wealthspire Advisors LLC reduced its stake in shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) by 4.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,806 shares of the company’s stock after selling 241 shares during the period. Wealthspire Advisors LLC’s holdings in Burke & Herbert Financial Services were worth $362,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Barclays PLC grew its holdings in shares of 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 acquiring an additional 14,915 shares in the last quarter. State Street Corp boosted its holdings in Burke & Herbert Financial Services by 9.9% in the third quarter. State Street Corp now owns 289,576 shares of the company’s stock worth $17,661,000 after purchasing an additional 26,191 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Burke & Herbert Financial Services in the third quarter worth $1,005,000. Geode Capital Management LLC boosted its holdings in Burke & Herbert Financial Services by 5.2% in the third quarter. Geode Capital Management LLC now owns 306,243 shares of the company’s stock worth $18,681,000 after purchasing an additional 15,092 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Burke & Herbert Financial Services by 481.5% in the third quarter. JPMorgan Chase & Co. now owns 33,199 shares of the company’s stock worth $2,025,000 after purchasing an additional 27,490 shares in the last quarter.

Burke & Herbert Financial Services Trading Down 0.3 %

Shares of NASDAQ:BHRB opened at $62.21 on Thursday. The stock has a market capitalization of $931.28 million and a PE ratio of 25.92. 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 fifty day moving average price of $62.56 and a 200 day moving average price of $64.18. 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 (NASDAQ:BHRB) last released its earnings results on Friday, January 24th. The company reported $1.77 earnings per share 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%. Analysts expect that Burke & Herbert Financial Services Corp. will post 8.05 EPS for the current fiscal year.

Burke & Herbert Financial Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date is Friday, February 14th. Burke & Herbert Financial Services’s dividend payout ratio is 91.67%.

Insiders Place Their Bets

In other news, Director Shawn Patrick Mclaughlin bought 555 shares of the business’s stock in a transaction on Monday, December 9th. The stock was purchased at an average price of $69.35 per share, with a total value of $38,489.25. Following the transaction, the director now directly owns 61,000 shares in the company, valued at approximately $4,230,350. The trade was a 0.92 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Gary L. Hinkle bought 1,000 shares of Burke & Herbert Financial Services stock in a transaction that occurred on Friday, January 31st. The stock was bought at an average price of $64.48 per share, with a total value of $64,480.00. Following the purchase, the director now owns 244,355 shares of the company’s stock, 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 bought a total of 15,750 shares of company stock valued at $1,024,432 in the last quarter. Insiders own 9.65% of the company’s stock.

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 decreased their price objective for the stock from $79.00 to $76.00 in a report on Monday, January 27th.

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.