Goldman Sachs Group Inc. Acquires 10,117 Shares of Burke & Herbert Financial Services Corp. $BHRB

Goldman Sachs Group Inc. boosted its holdings in shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) by 16.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 71,849 shares of the company’s stock after acquiring an additional 10,117 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.48% of Burke & Herbert Financial Services worth $4,031,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Burke & Herbert Financial Services by 1.1% during the first quarter. Vanguard Group Inc. now owns 740,512 shares of the company’s stock valued at $41,550,000 after acquiring an additional 8,349 shares in the last quarter. Hotchkis & Wiley Capital Management LLC bought a new position in shares of Burke & Herbert Financial Services in the first quarter valued at approximately $5,762,000. Verdence Capital Advisors LLC raised its position in shares of Burke & Herbert Financial Services by 4.9% in the first quarter. Verdence Capital Advisors LLC now owns 71,707 shares of the company’s stock valued at $4,023,000 after purchasing an additional 3,323 shares during the period. EJF Capital LLC raised its position in shares of Burke & Herbert Financial Services by 7.0% in the first quarter. EJF Capital LLC now owns 64,368 shares of the company’s stock valued at $3,612,000 after purchasing an additional 4,210 shares during the period. Finally, American Century Companies Inc. raised its position in shares of Burke & Herbert Financial Services by 103.7% in the first quarter. American Century Companies Inc. now owns 52,067 shares of the company’s stock valued at $2,921,000 after purchasing an additional 26,509 shares during the period.

Burke & Herbert Financial Services Stock Up 0.9%

Shares of NASDAQ:BHRB opened at $61.92 on Thursday. Burke & Herbert Financial Services Corp. has a 12 month low of $47.57 and a 12 month high of $75.32. The company’s 50-day moving average price is $61.65 and its two-hundred day moving average price is $58.30. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.15. The firm has a market cap of $930.04 million, a P/E ratio of 8.99 and a beta of 1.21.

Burke & Herbert Financial Services (NASDAQ:BHRB) last issued its quarterly earnings data on Thursday, July 24th. The company reported $1.97 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.12. Burke & Herbert Financial Services had a net margin of 20.93% and a return on equity of 15.39%. The firm had revenue of $87.11 million for the quarter, compared to analyst estimates of $86.06 million. As a group, research analysts forecast that Burke & Herbert Financial Services Corp. will post 8.05 EPS for the current fiscal year.

Burke & Herbert Financial Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Friday, August 15th were given a dividend of $0.55 per share. The ex-dividend date was Friday, August 15th. This represents a $2.20 dividend on an annualized basis and a yield of 3.6%. Burke & Herbert Financial Services’s dividend payout ratio is presently 31.93%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on BHRB shares. Keefe, Bruyette & Woods lifted their price target on shares of Burke & Herbert Financial Services from $70.00 to $72.00 and gave the company an “outperform” rating in a research report on Monday, July 28th. Janney Montgomery Scott started coverage on shares of Burke & Herbert Financial Services in a research report on Thursday, July 10th. They issued a “buy” rating and a $70.00 price target on the stock. Wall Street Zen lowered shares of Burke & Herbert Financial Services from a “buy” rating to a “hold” rating in a research report on Saturday, July 26th. Finally, DA Davidson boosted their target price on shares of Burke & Herbert Financial Services from $69.00 to $73.00 and gave the stock a “buy” rating in a research report on Monday, July 28th. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $71.67.

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.