Rhumbline Advisers Has $967,000 Stock Holdings in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB)

Rhumbline Advisers increased its position in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) by 126.9% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 18,973 shares of the company’s stock after purchasing an additional 10,613 shares during the period. Rhumbline Advisers owned about 0.13% of Burke & Herbert Financial Services worth $967,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BHRB. Burney Co. acquired a new position in shares of Burke & Herbert Financial Services in the 2nd quarter valued at about $246,000. Bank of New York Mellon Corp grew its position in Burke & Herbert Financial Services by 96.0% in the second quarter. Bank of New York Mellon Corp now owns 81,204 shares of the company’s stock valued at $4,140,000 after acquiring an additional 39,769 shares during the period. Verdence Capital Advisors LLC bought a new stake in Burke & Herbert Financial Services during the 2nd quarter worth approximately $2,218,000. Fifth Third Bancorp acquired a new position in shares of Burke & Herbert Financial Services during the second quarter worth approximately $1,167,000. Finally, AA Financial Advisors LLC acquired a new stake in Burke & Herbert Financial Services in the second quarter worth about $1,589,000.

Burke & Herbert Financial Services Stock Performance

BHRB stock opened at $65.14 on Monday. Burke & Herbert Financial Services Corp. has a 1-year low of $42.91 and a 1-year high of $70.00. The business’s 50-day moving average price is $63.43 and its two-hundred day moving average price is $55.58. The firm has a market cap of $967.20 million and a PE ratio of 7.99. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.16.

Burke & Herbert Financial Services (NASDAQ:BHRB) last posted its earnings results on Friday, July 26th. The company reported $2.04 earnings per share (EPS) for the quarter. The business had revenue of $69.27 million during the quarter. Burke & Herbert Financial Services had a positive return on equity of 9.96% and a negative net margin of 1.10%.

Burke & Herbert Financial Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were paid a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 3.25%. The ex-dividend date of this dividend was Thursday, August 15th. Burke & Herbert Financial Services’s payout ratio is 26.01%.

Insider Buying and Selling

In other news, Director Gary L. Hinkle bought 5,000 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was acquired at an average cost of $68.09 per share, with a total value of $340,450.00. Following the completion of the purchase, the director now owns 233,155 shares of the company’s stock, valued at $15,875,523.95. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 9.65% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods increased their price objective on shares of Burke & Herbert Financial Services from $66.00 to $73.00 and gave the company a “market perform” rating in a report on Monday, July 29th.

About Burke & Herbert Financial Services

Burke & Herbert Financial Services Corp. operates as the bank holding company for Burke & Herbert Bank & Trust Company that provides various community banking products and services in Virginia and Maryland. It offers consumer and commercial deposit products, such as digital banking, demand, negotiable order of withdrawal, money market, and savings accounts, as well as certificates of deposit.