Intech Investment Management LLC Makes New $278,000 Investment in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB)

Intech Investment Management LLC acquired a new stake in shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 4,461 shares of the company’s stock, valued at approximately $278,000.

Several other hedge funds also recently added to or reduced their stakes in BHRB. Quantbot Technologies LP bought a new position in shares of Burke & Herbert Financial Services during the third quarter worth about $118,000. Raymond James Financial Inc. acquired a new position in shares of Burke & Herbert Financial Services in the 4th quarter worth approximately $274,000. Delphi Management Inc. MA bought a new stake in shares of Burke & Herbert Financial Services in the 4th quarter valued at approximately $283,000. Truist Financial Corp acquired a new stake in shares of Burke & Herbert Financial Services during the 4th quarter valued at approximately $340,000. Finally, SG Americas Securities LLC lifted its stake in Burke & Herbert Financial Services by 49.8% during the fourth quarter. SG Americas Securities LLC now owns 7,591 shares of the company’s stock worth $473,000 after purchasing an additional 2,524 shares during the last quarter.

Analysts Set New Price Targets

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

Burke & Herbert Financial Services Stock Performance

Shares of BHRB stock opened at $57.56 on Thursday. The company has a market cap of $862.42 million and a P/E ratio of 23.98. The business has a 50 day moving average of $61.79 and a two-hundred day moving average of $63.53. Burke & Herbert Financial Services Corp. has a 52 week low of $46.00 and a 52 week high of $75.32. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.15.

Burke & Herbert Financial Services (NASDAQ:BHRB) last released its quarterly earnings data 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 return on equity of 15.15% and a net margin of 8.88%. As a group, analysts anticipate that Burke & Herbert Financial Services Corp. will post 8.05 EPS for the current year.

Burke & Herbert Financial Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were issued a $0.55 dividend. The ex-dividend date was Friday, February 14th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.82%. Burke & Herbert Financial Services’s dividend payout ratio (DPR) is presently 91.67%.

Insider Activity at Burke & Herbert Financial Services

In other news, Director Gary L. Hinkle purchased 1,000 shares of the company’s stock in a transaction on Friday, January 31st. The shares were bought at an average price of $64.48 per share, for a total transaction of $64,480.00. Following the completion of the purchase, the director now owns 244,355 shares of the company’s stock, valued at $15,756,010.40. This trade represents a 0.41 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Julian Forrest Jr. Barnwell acquired 2,000 shares of Burke & Herbert Financial Services stock in a transaction dated Friday, February 21st. The shares were acquired at an average price of $62.50 per share, with a total value of $125,000.00. Following the completion of the transaction, the director now owns 189,939 shares of the company’s stock, valued at approximately $11,871,187.50. This trade represents a 1.06 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 19,140 shares of company stock worth $1,195,743 in the last ninety days. 9.65% of the stock is owned by insiders.

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.