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

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) shares saw unusually-high trading volume on Tuesday . Approximately 40,245 shares traded hands during mid-day trading, an increase of 11% from the previous session’s volume of 36,243 shares.The stock last traded at $63.05 and had previously closed at $62.09.

Analyst Upgrades and Downgrades

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

Burke & Herbert Financial Services Stock Up 0.6 %

The stock has a market cap of $934.64 million and a price-to-earnings ratio of 26.01. The business’s 50 day moving average is $62.76 and its 200-day moving average is $64.17. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.83 and a current ratio of 0.83.

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, meeting the consensus estimate of $1.77. Burke & Herbert Financial Services had a return on equity of 15.15% and a net margin of 8.88%. On average, sell-side analysts predict 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 declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be paid a $0.55 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.20 annualized dividend and a dividend yield of 3.52%. Burke & Herbert Financial Services’s dividend payout ratio (DPR) is 91.67%.

Insider Activity at Burke & Herbert Financial Services

In other news, Director Julian Forrest Jr. Barnwell acquired 3,000 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was acquired at an average cost of $68.75 per share, with a total value of $206,250.00. Following the completion of the purchase, the director now owns 182,939 shares of the company’s stock, valued at $12,577,056.25. This represents a 1.67 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director Shawn Patrick Mclaughlin bought 555 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were purchased at an average price of $69.35 per share, with a total value of $38,489.25. Following the completion of the acquisition, the director now directly owns 61,000 shares in the company, valued at $4,230,350. This trade represents a 0.92 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 15,750 shares of company stock worth $1,024,432. Insiders own 9.65% of the company’s stock.

Institutional Investors Weigh In On Burke & Herbert Financial Services

Several large investors have recently bought and sold shares of the stock. Modera Wealth Management LLC acquired a new position in shares of Burke & Herbert Financial Services during the third quarter worth about $383,000. Verdence Capital Advisors LLC grew its holdings in Burke & Herbert Financial Services by 18.4% during the 3rd quarter. Verdence Capital Advisors LLC now owns 51,500 shares of the company’s stock worth $3,141,000 after acquiring an additional 8,000 shares in the last quarter. Quest Partners LLC purchased a new stake in shares of Burke & Herbert Financial Services in the 3rd quarter valued at approximately $478,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Burke & Herbert Financial Services by 190.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 108,481 shares of the company’s stock valued at $6,616,000 after purchasing an additional 71,105 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new stake in shares of Burke & Herbert Financial Services during the 3rd quarter worth $118,000.

Burke & Herbert Financial Services Company 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.