Wealthspire Advisors LLC Reduces Position in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB)

Wealthspire Advisors LLC trimmed its holdings in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) by 9.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,999 shares of the company’s stock after selling 622 shares during the period. Wealthspire Advisors LLC’s holdings in Burke & Herbert Financial Services were worth $306,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of BHRB. HHM Wealth Advisors LLC acquired a new stake in Burke & Herbert Financial Services in the 2nd quarter valued at about $29,000. Fortitude Family Office LLC lifted its position in Burke & Herbert Financial Services by 1,666.0% during the second quarter. Fortitude Family Office LLC now owns 936 shares of the company’s stock worth $48,000 after buying an additional 883 shares in the last quarter. LSV Asset Management acquired a new position in Burke & Herbert Financial Services during the second quarter worth $108,000. TIAA Trust National Association purchased a new stake in Burke & Herbert Financial Services in the 2nd quarter valued at $213,000. Finally, Vanguard Group Inc. increased its stake in shares of Burke & Herbert Financial Services by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 341,705 shares of the company’s stock worth $19,146,000 after acquiring an additional 4,574 shares during the last quarter.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods upped 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.

Burke & Herbert Financial Services Stock Up 0.4 %

Shares of NASDAQ BHRB opened at $65.19 on Tuesday. Burke & Herbert Financial Services Corp. has a 1 year low of $42.91 and a 1 year high of $70.00. The company has a market capitalization of $967.94 million and a P/E ratio of 8.00. The company has a 50 day simple moving average of $62.17 and a 200-day simple moving average of $55.28. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.83 and a quick ratio of 0.83.

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. Burke & Herbert Financial Services had a positive return on equity of 9.96% and a negative net margin of 1.10%. The company had revenue of $69.27 million during the quarter.

Burke & Herbert Financial Services Announces Dividend

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

Insiders Place Their Bets

In related news, Director Gary L. Hinkle purchased 5,000 shares of Burke & Herbert Financial Services stock in a transaction dated Friday, August 23rd. The shares were acquired at an average cost of $68.09 per share, with a total value of $340,450.00. Following the purchase, the director now owns 233,155 shares of the company’s stock, valued at $15,875,523.95. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 9.65% of the stock is currently owned by insiders.

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.