Charles Schwab Investment Management Inc. Buys 2,078 Shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB)

Charles Schwab Investment Management Inc. lifted its position in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) by 1.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 110,559 shares of the company’s stock after acquiring an additional 2,078 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Burke & Herbert Financial Services were worth $6,894,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Fourthstone LLC grew its stake in Burke & Herbert Financial Services by 29.3% in the third quarter. Fourthstone LLC now owns 397,598 shares of the company’s stock valued at $24,250,000 after acquiring an additional 90,151 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Burke & Herbert Financial Services by 5.2% during the 3rd quarter. Geode Capital Management LLC now owns 306,243 shares of the company’s stock valued at $18,681,000 after purchasing an additional 15,092 shares in the last quarter. State Street Corp grew its position in shares of Burke & Herbert Financial Services by 9.9% in the 3rd quarter. State Street Corp now owns 289,576 shares of the company’s stock valued at $17,661,000 after purchasing an additional 26,191 shares during the period. JPMorgan Chase & Co. increased its stake in Burke & Herbert Financial Services by 481.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 33,199 shares of the company’s stock worth $2,025,000 after purchasing an additional 27,490 shares in the last quarter. Finally, Barclays PLC increased its stake in Burke & Herbert Financial Services by 204.0% during the 3rd quarter. Barclays PLC now owns 22,225 shares of the company’s stock worth $1,357,000 after purchasing an additional 14,915 shares in the last quarter.

Analyst Ratings Changes

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

Insider Buying and Selling

In other news, Director Gary L. Hinkle bought 1,000 shares of the stock in a transaction dated 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 in the company, valued at approximately $15,756,010.40. This trade represents a 0.41 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Julian Forrest Jr. Barnwell purchased 1,140 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were acquired at an average cost of $58.38 per share, for a total transaction of $66,553.20. Following the completion of the transaction, the director now owns 91,361 shares of the company’s stock, valued at $5,333,655.18. This trade represents a 1.26 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 19,140 shares of company stock worth $1,195,743. Insiders own 9.65% of the company’s stock.

Burke & Herbert Financial Services Stock Performance

BHRB opened at $58.68 on Tuesday. The company has a market capitalization of $879.20 million and a price-to-earnings ratio of 24.45. The business’s 50-day moving average price is $61.93 and its two-hundred day moving average price is $63.61. Burke & Herbert Financial Services Corp. has a 1 year low of $46.00 and a 1 year high of $75.32. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.83 and a quick ratio of 0.83.

Burke & Herbert Financial Services (NASDAQ:BHRB) last announced its earnings results 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%. Equities analysts expect that Burke & Herbert Financial Services Corp. will post 8.05 EPS for the current fiscal year.

Burke & Herbert Financial Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.75%. The ex-dividend date was Friday, February 14th. Burke & Herbert Financial Services’s dividend payout ratio is currently 91.67%.

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.