Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Position Lowered by Hutchinson Capital Management CA

Hutchinson Capital Management CA lessened its stake in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) by 0.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 257,080 shares of the company’s stock after selling 2,000 shares during the quarter. Burke & Herbert Financial Services makes up about 3.0% of Hutchinson Capital Management CA’s investment portfolio, making the stock its 10th largest position. Hutchinson Capital Management CA owned about 1.72% of Burke & Herbert Financial Services worth $16,032,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of BHRB. Barclays PLC raised its stake in Burke & Herbert Financial Services by 204.0% during the third 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 in the last quarter. State Street Corp increased its position in 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 last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Burke & Herbert Financial Services during the third quarter valued at $1,005,000. Geode Capital Management LLC increased its position in Burke & Herbert Financial Services by 5.2% during the third quarter. Geode Capital Management LLC now owns 306,243 shares of the company’s stock valued at $18,681,000 after acquiring an additional 15,092 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in Burke & Herbert Financial Services by 481.5% during the third quarter. JPMorgan Chase & Co. now owns 33,199 shares of the company’s stock valued at $2,025,000 after acquiring an additional 27,490 shares during the last quarter.

Burke & Herbert Financial Services Trading Up 0.9 %

NASDAQ BHRB opened at $58.74 on Friday. The company’s 50-day moving average price is $61.90 and its 200-day moving average price is $63.92. 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 stock has a market cap of $879.22 million and a PE ratio of 24.48. Burke & Herbert Financial Services Corp. has a 12 month low of $46.00 and a 12 month high of $75.32.

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

Burke & Herbert Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.75%. The ex-dividend date was Friday, February 14th. Burke & Herbert Financial Services’s payout ratio is presently 91.67%.

Insider Transactions at Burke & Herbert Financial Services

In other Burke & Herbert Financial Services news, Director Julian Forrest Jr. Barnwell bought 1,140 shares of the company’s stock in a transaction on Thursday, March 13th. The shares were bought at an average cost of $58.38 per share, for a total transaction of $66,553.20. Following the acquisition, the director now directly owns 91,361 shares in the company, valued at approximately $5,333,655.18. The trade was a 1.26 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Gary L. Hinkle bought 3,000 shares of the company’s stock in a transaction on Monday, February 10th. The shares were acquired at an average price of $64.97 per share, for a total transaction of $194,910.00. Following the completion of the acquisition, the director now owns 248,459 shares in the company, valued at $16,142,381.23. This represents a 1.22 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 19,140 shares of company stock worth $1,195,743. Insiders own 9.65% of the company’s stock.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods upgraded shares of 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 research 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.