Geode Capital Management LLC Trims Stock Holdings in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB)

Geode Capital Management LLC trimmed its holdings in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) by 0.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 305,887 shares of the company’s stock after selling 356 shares during the period. Geode Capital Management LLC owned about 2.04% of Burke & Herbert Financial Services worth $19,080,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Burke & Herbert Financial Services by 3.2% during the 4th quarter. Vanguard Group Inc. now owns 732,163 shares of the company’s stock valued at $45,658,000 after acquiring an additional 22,559 shares during the last quarter. State Street Corp grew its stake in Burke & Herbert Financial Services by 9.9% in the third quarter. State Street Corp now owns 289,576 shares of the company’s stock worth $17,661,000 after purchasing an additional 26,191 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Burke & Herbert Financial Services by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 110,559 shares of the company’s stock valued at $6,894,000 after buying an additional 2,078 shares during the last quarter. Verdence Capital Advisors LLC raised its stake in Burke & Herbert Financial Services by 32.8% during the fourth quarter. Verdence Capital Advisors LLC now owns 68,384 shares of the company’s stock valued at $4,264,000 after buying an additional 16,884 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of Burke & Herbert Financial Services by 94.4% in the 4th quarter. JPMorgan Chase & Co. now owns 64,526 shares of the company’s stock worth $4,024,000 after acquiring an additional 31,327 shares in the last quarter.

Analysts Set New Price Targets

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

Burke & Herbert Financial Services Price Performance

BHRB opened at $50.01 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.15. The company’s 50-day moving average price is $57.38 and its 200 day moving average price is $62.02. Burke & Herbert Financial Services Corp. has a fifty-two week low of $46.00 and a fifty-two week high of $75.32. The firm has a market cap of $749.30 million and a price-to-earnings ratio of 20.84.

Burke & Herbert Financial Services (NASDAQ:BHRB) last released its quarterly earnings data 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%. As a group, sell-side analysts expect that Burke & Herbert Financial Services Corp. will post 8.05 earnings per share for the current year.

Burke & Herbert Financial Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors 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 4.40%. Burke & Herbert Financial Services’s dividend payout ratio is presently 91.67%.

Insider Buying and Selling at Burke & Herbert Financial Services

In other Burke & Herbert Financial Services news, Director Julian Forrest Jr. Barnwell purchased 1,140 shares of Burke & Herbert Financial Services stock in a transaction on Thursday, March 13th. The stock was bought at an average price of $58.38 per share, for a total transaction of $66,553.20. Following the transaction, the director now owns 91,361 shares of the company’s stock, valued at $5,333,655.18. The trade was a 1.26 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Gary L. Hinkle purchased 3,000 shares of the stock in a transaction dated Monday, February 10th. The shares were acquired at an average cost of $64.97 per share, for a total transaction of $194,910.00. Following the completion of the acquisition, the director now directly owns 248,459 shares of the company’s stock, valued at approximately $16,142,381.23. This trade 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 ninety days. Company insiders own 10.92% of the company’s stock.

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.