GAMMA Investing LLC Has $353,000 Holdings in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB)

GAMMA Investing LLC increased its position in shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) by 14,181.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,284 shares of the company’s stock after buying an additional 6,240 shares during the period. GAMMA Investing LLC’s holdings in Burke & Herbert Financial Services were worth $353,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC bought a new position in shares of Burke & Herbert Financial Services in the 4th quarter valued at about $381,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Burke & Herbert Financial Services by 24.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 20,512 shares of the company’s stock worth $1,279,000 after buying an additional 4,029 shares during the last quarter. Squarepoint Ops LLC bought a new stake in Burke & Herbert Financial Services in the fourth quarter valued at approximately $218,000. ProShare Advisors LLC acquired a new stake in shares of Burke & Herbert Financial Services in the fourth quarter valued at approximately $238,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Burke & Herbert Financial Services by 7.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,711 shares of the company’s stock valued at $481,000 after buying an additional 535 shares during the last quarter.

Burke & Herbert Financial Services Trading Up 0.4%

Shares of BHRB stock opened at $56.50 on Friday. Burke & Herbert Financial Services Corp. has a 12-month low of $47.28 and a 12-month high of $75.32. The company has a market capitalization of $848.07 million and a PE ratio of 16.10. The firm has a 50 day moving average price of $55.55 and a two-hundred day moving average price of $59.27. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.15.

Burke & Herbert Financial Services (NASDAQ:BHRB) last released its quarterly earnings results on Friday, April 25th. The company reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.02. The business had revenue of $83.01 million during the quarter, compared to analysts’ expectations of $85.50 million. Burke & Herbert Financial Services had a return on equity of 15.20% and a net margin of 12.02%. As a group, analysts predict that Burke & Herbert Financial Services Corp. will post 8.05 earnings per share for the current year.

Burke & Herbert Financial Services declared that its board has approved a stock repurchase plan on Friday, April 25th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 6.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Burke & Herbert Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Thursday, May 15th were given a $0.55 dividend. The ex-dividend date was Thursday, May 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.89%. Burke & Herbert Financial Services’s payout ratio is presently 62.68%.

Insider Activity

In related news, Director Shawn Patrick Mclaughlin bought 1,000 shares of the business’s stock in a transaction dated Wednesday, May 7th. The stock was purchased at an average cost of $56.50 per share, for a total transaction of $56,500.00. Following the transaction, the director now owns 64,000 shares in the company, valued at $3,616,000. The trade was a 1.59% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Samuel Laing Hinson III bought 4,000 shares of Burke & Herbert Financial Services stock in a transaction dated Tuesday, April 29th. The shares were bought at an average cost of $53.00 per share, for a total transaction of $212,000.00. Following the completion of the acquisition, the director now owns 28,800 shares in the company, valued at $1,526,400. This represents a 16.13% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 10,302 shares of company stock valued at $560,535. 10.92% of the stock is owned by company insiders.

Analysts Set New Price Targets

BHRB has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods dropped their price target on Burke & Herbert Financial Services from $73.00 to $70.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 29th. Wall Street Zen upgraded shares of Burke & Herbert Financial Services from a “hold” rating to a “buy” rating in a report on Thursday, May 22nd.

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.