KLP Kapitalforvaltning AS Invests $156,000 in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB)

KLP Kapitalforvaltning AS purchased a new stake in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) in the fourth quarter, HoldingsChannel.com reports. The fund purchased 2,500 shares of the company’s stock, valued at approximately $156,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Swiss National Bank grew its stake in Burke & Herbert Financial Services by 1.1% during the fourth quarter. Swiss National Bank now owns 26,400 shares of the company’s stock worth $1,646,000 after buying an additional 300 shares in the last quarter. Rhumbline Advisers boosted its position in shares of Burke & Herbert Financial Services by 1.9% during the 4th quarter. Rhumbline Advisers now owns 18,548 shares of the company’s stock worth $1,157,000 after acquiring an additional 341 shares in the last quarter. Jane Street Group LLC increased its stake in Burke & Herbert Financial Services by 6.9% in the third quarter. Jane Street Group LLC now owns 18,772 shares of the company’s stock valued at $1,145,000 after acquiring an additional 1,218 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Burke & Herbert Financial Services by 1.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 110,559 shares of the company’s stock valued at $6,894,000 after purchasing an additional 2,078 shares in the last quarter. 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.

Analyst Ratings Changes

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

Insider Activity

In other news, Director Gary L. Hinkle purchased 1,000 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were purchased at an average price of $64.48 per share, for a total transaction of $64,480.00. Following the transaction, the director now owns 244,355 shares of the company’s stock, valued at approximately $15,756,010.40. This trade represents a 0.41 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Julian Forrest Jr. Barnwell acquired 1,140 shares of the company’s stock in a transaction dated Thursday, March 13th. The stock was acquired at an average cost of $58.38 per share, for a total transaction of $66,553.20. Following the completion of the purchase, the director now directly owns 91,361 shares in the company, valued at $5,333,655.18. This trade represents a 1.26 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 19,140 shares of company stock valued at $1,195,743. 9.65% of the stock is currently owned by corporate insiders.

Burke & Herbert Financial Services Trading Up 0.4 %

BHRB opened at $49.87 on Wednesday. The company has a market cap of $747.20 million and a P/E ratio of 20.78. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.15. The company’s 50 day moving average is $59.97 and its 200-day moving average is $62.72. Burke & Herbert Financial Services Corp. has a 1-year low of $46.00 and a 1-year high of $75.32.

Burke & Herbert Financial Services (NASDAQ:BHRB) last posted its earnings results on Friday, January 24th. The company reported $1.77 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.77. Burke & Herbert Financial Services had a net margin of 8.88% and a return on equity of 15.15%. Equities research analysts predict that Burke & Herbert Financial Services Corp. will post 8.05 earnings per share for the current fiscal year.

Burke & Herbert Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were given a $0.55 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.20 annualized dividend and a yield of 4.41%. Burke & Herbert Financial Services’s dividend payout ratio is presently 91.67%.

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.