Marshall Wace LLP Takes Position in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB)

Marshall Wace LLP bought a new position in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 8,384 shares of the company’s stock, valued at approximately $427,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. HHM Wealth Advisors LLC purchased a new position in shares of Burke & Herbert Financial Services in the second quarter worth about $29,000. Fortitude Family Office LLC increased its holdings in Burke & Herbert Financial Services by 1,666.0% in the 2nd quarter. Fortitude Family Office LLC now owns 936 shares of the company’s stock worth $48,000 after buying an additional 883 shares during the period. LSV Asset Management purchased a new position in Burke & Herbert Financial Services during the 2nd quarter worth approximately $108,000. TIAA Trust National Association acquired a new stake in Burke & Herbert Financial Services during the 2nd quarter valued at approximately $213,000. Finally, Burney Co. purchased a new stake in shares of Burke & Herbert Financial Services in the 2nd quarter valued at $246,000.

Insider Activity

In other Burke & Herbert Financial Services news, Director Gary L. Hinkle purchased 5,000 shares of Burke & Herbert Financial Services stock in a transaction that occurred on Friday, August 23rd. The stock was bought at an average price of $68.09 per share, with a total value of $340,450.00. Following the acquisition, the director now owns 233,155 shares of the company’s stock, valued at $15,875,523.95. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 9.65% of the company’s stock.

Burke & Herbert Financial Services Stock Performance

Shares of BHRB stock opened at $57.32 on Friday. The business has a 50-day simple moving average of $62.53 and a 200-day simple moving average of $56.10. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.16. The stock has a market cap of $851.09 million and a PE ratio of 7.03. Burke & Herbert Financial Services Corp. has a 52-week low of $42.91 and a 52-week high of $70.00.

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

Burke & Herbert Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th were paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 3.70%. The ex-dividend date of this dividend was Thursday, August 15th. Burke & Herbert Financial Services’s payout ratio is currently 26.01%.

Wall Street Analyst Weigh In

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

Burke & Herbert Financial Services Company Profile

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.