Delphi Management Inc. MA Purchases Shares of 4,540 Burke & Herbert Financial Services Corp. (NASDAQ:BHRB)

Delphi Management Inc. MA purchased a new position in shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 4,540 shares of the company’s stock, valued at approximately $283,000.

Several other hedge funds have also recently made changes to their positions in BHRB. Fourthstone LLC grew its stake in Burke & Herbert Financial Services by 29.3% during the third quarter. Fourthstone LLC now owns 397,598 shares of the company’s stock worth $24,250,000 after purchasing an additional 90,151 shares during the period. Geode Capital Management LLC boosted 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 worth $18,681,000 after buying 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% during the 3rd quarter. State Street Corp now owns 289,576 shares of the company’s stock worth $17,661,000 after buying an additional 26,191 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Burke & Herbert Financial Services by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 110,559 shares of the company’s stock valued at $6,894,000 after acquiring an additional 2,078 shares in the last quarter. Finally, Verdence Capital Advisors LLC lifted its position in shares of Burke & Herbert Financial Services by 32.8% during the 4th quarter. Verdence Capital Advisors LLC now owns 68,384 shares of the company’s stock valued at $4,264,000 after acquiring an additional 16,884 shares during the period.

Burke & Herbert Financial Services Stock Performance

Shares of Burke & Herbert Financial Services stock opened at $58.95 on Tuesday. Burke & Herbert Financial Services Corp. has a one year low of $46.00 and a one year high of $75.32. The firm has a market capitalization of $882.36 million and a price-to-earnings ratio of 24.56. The business has a 50-day simple moving average of $61.88 and a 200 day simple moving average of $63.85. 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 issued its earnings results on Friday, January 24th. The company reported $1.77 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%. On average, research analysts anticipate that Burke & Herbert Financial Services Corp. will post 8.05 earnings per share for the current fiscal year.

Burke & Herbert Financial Services Dividend Announcement

The company 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 yield of 3.73%. The ex-dividend date was Friday, February 14th. Burke & Herbert Financial Services’s payout ratio is 91.67%.

Analyst Ratings Changes

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

Insider Activity at Burke & Herbert Financial Services

In related news, Director Shawn Patrick Mclaughlin acquired 1,000 shares of the firm’s stock in a transaction on Wednesday, January 29th. The stock was purchased at an average cost of $63.00 per share, with a total value of $63,000.00. Following the acquisition, the director now owns 62,000 shares of the company’s stock, valued at approximately $3,906,000. This trade represents a 1.64 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Gary L. Hinkle acquired 3,000 shares of the firm’s stock in a transaction on Monday, February 10th. The shares were bought at an average cost of $64.97 per share, with a total value of $194,910.00. Following the completion of the acquisition, the director now directly owns 248,459 shares in the company, valued at approximately $16,142,381.23. This represents a 1.22 % increase in their position. The disclosure for this purchase can be found here. Insiders bought 19,140 shares of company stock valued at $1,195,743 in the last three months. Corporate insiders own 9.65% of the company’s stock.

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.