Burke & Herbert Financial Services (NASDAQ:BHRB) Sees Unusually-High Trading Volume – Here’s What Happened

by · The Cerbat Gem

Shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB – Get Free Report) saw unusually-high trading volume on Friday . Approximately 55,117 shares were traded during trading, an increase of 4% from the previous session’s volume of 52,835 shares.The stock last traded at $66.50 and had previously closed at $69.79.

Analyst Upgrades and Downgrades

BHRB has been the topic of several research reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Burke & Herbert Financial Services in a report on Monday. Zacks Research upgraded Burke & Herbert Financial Services from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th. Summit Redstone set a $71.00 price target on Burke & Herbert Financial Services in a report on Thursday, October 9th. Finally, DA Davidson lowered Burke & Herbert Financial Services from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 20th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $71.50.

Get Our Latest Analysis on Burke & Herbert Financial Services

Burke & Herbert Financial Services Stock Performance

The company’s fifty day simple moving average is $62.97 and its two-hundred day simple moving average is $61.58. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market capitalization of $1.00 billion, a P/E ratio of 9.46 and a beta of 0.97.

Burke & Herbert Financial Services (NASDAQ:BHRB – Get Free Report) last announced its earnings results on Friday, January 26th. The company reported $1.82 earnings per share for the quarter. The company had revenue of $32.13 million for the quarter. Burke & Herbert Financial Services had a return on equity of 14.95% and a net margin of 21.68%. As a group, equities analysts forecast that Burke & Herbert Financial Services Corp. will post 8.05 EPS for the current year.

Burke & Herbert Financial Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Friday, November 14th were given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend was Friday, November 14th. Burke & Herbert Financial Services’s payout ratio is presently 31.25%.

Insider Activity at Burke & Herbert Financial Services

In other Burke & Herbert Financial Services news, Director Shawn Patrick Mclaughlin purchased 1,000 shares of the company’s stock in a transaction dated Tuesday, October 28th. The stock was bought at an average cost of $61.00 per share, for a total transaction of $61,000.00. Following the completion of the transaction, the director owned 67,000 shares in the company, valued at approximately $4,087,000. This represents a 1.52% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 10.92% of the company’s stock.

Hedge Funds Weigh In On Burke & Herbert Financial Services

Hedge funds have recently added to or reduced their stakes in the stock. Atlantic Union Bankshares Corp bought a new position in shares of Burke & Herbert Financial Services in the 2nd quarter valued at $591,000. EJF Capital LLC boosted its stake in Burke & Herbert Financial Services by 7.0% in the first quarter. EJF Capital LLC now owns 64,368 shares of the company’s stock valued at $3,612,000 after buying an additional 4,210 shares in the last quarter. Hsbc Holdings PLC bought a new position in Burke & Herbert Financial Services in the first quarter valued at about $221,000. Goldman Sachs Group Inc. raised its stake in Burke & Herbert Financial Services by 16.4% during the first quarter. Goldman Sachs Group Inc. now owns 71,849 shares of the company’s stock worth $4,031,000 after acquiring an additional 10,117 shares in the last quarter. Finally, Nuveen LLC bought a new position in shares of Burke & Herbert Financial Services in the first quarter worth about $1,685,000.

About Burke & Herbert Financial Services

(Get Free Report)

Burke & Herbert Financial Services, Inc is a bank holding company headquartered in Alexandria, Virginia, and the parent company of Burke & Herbert Bank. The company operates as a community‐focused financial institution, offering a full suite of commercial and consumer banking products to individuals, small businesses, and nonprofit organizations in the Washington, DC metropolitan area.

The company’s core banking services include traditional deposit accounts such as checking, savings, money market and certificates of deposit, alongside digital banking platforms for online and mobile account access.

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