Delphi Management Inc. MA Invests $283,000 in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB)

Delphi Management Inc. MA bought a new position in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) during the fourth quarter, Holdings Channel.com reports. The firm bought 4,540 shares of the company’s stock, valued at approximately $283,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Barclays PLC boosted its stake in shares of Burke & Herbert Financial Services by 204.0% in the 3rd quarter. Barclays PLC now owns 22,225 shares of the company’s stock worth $1,357,000 after buying an additional 14,915 shares during the last quarter. State Street Corp boosted its stake in shares of Burke & Herbert Financial Services by 9.9% in the 3rd quarter. State Street Corp now owns 289,576 shares of the company’s stock worth $17,661,000 after buying an additional 26,191 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of Burke & Herbert Financial Services in the 3rd quarter worth approximately $1,005,000. Geode Capital Management LLC boosted its stake in shares of 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 worth $18,681,000 after buying an additional 15,092 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake 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 buying an additional 27,490 shares during the last quarter.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Burke & Herbert Financial Services

In other news, Director Shawn Patrick Mclaughlin purchased 1,000 shares of the firm’s stock in a transaction dated Wednesday, January 29th. The shares were purchased at an average price of $63.00 per share, with a total value of $63,000.00. Following the completion of the acquisition, the director now owns 62,000 shares in the company, valued at $3,906,000. This trade represents a 1.64 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Julian Forrest Jr. Barnwell purchased 1,140 shares of the firm’s stock in a transaction dated Thursday, March 13th. The stock was purchased at an average cost of $58.38 per share, for a total transaction of $66,553.20. Following the acquisition, the director now owns 91,361 shares of the company’s stock, valued at approximately $5,333,655.18. This trade represents a 1.26 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 19,140 shares of company stock valued at $1,195,743 in the last 90 days. 9.65% of the stock is currently owned by company insiders.

Burke & Herbert Financial Services Price Performance

Burke & Herbert Financial Services stock opened at $58.95 on Tuesday. Burke & Herbert Financial Services Corp. has a 12 month low of $46.00 and a 12 month high of $75.32. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.15. The business’s 50 day simple moving average is $61.88 and its 200 day simple moving average is $63.85. The company has a market cap of $882.36 million and a price-to-earnings ratio of 24.56.

Burke & Herbert Financial Services (NASDAQ:BHRB) last issued its earnings results on Friday, January 24th. The company reported $1.77 earnings per share (EPS) for the quarter, meeting 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%. Sell-side analysts forecast that Burke & Herbert Financial Services Corp. will post 8.05 EPS for the current year.

Burke & Herbert Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were issued a dividend of $0.55 per share. The ex-dividend date was Friday, February 14th. This represents a $2.20 dividend on an annualized basis and a yield of 3.73%. Burke & Herbert Financial Services’s payout ratio is 91.67%.

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.