Burke & Herbert Financial Services Corp. $BHRB Shares Sold by Voya Investment Management LLC

Voya Investment Management LLC lowered its stake in shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) by 8.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,959 shares of the company’s stock after selling 342 shares during the quarter. Voya Investment Management LLC’s holdings in Burke & Herbert Financial Services were worth $222,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BHRB. Bank of America Corp DE boosted its position in Burke & Herbert Financial Services by 51.2% during the 4th quarter. Bank of America Corp DE now owns 17,518 shares of the company’s stock valued at $1,092,000 after purchasing an additional 5,932 shares during the period. Squarepoint Ops LLC acquired a new position in Burke & Herbert Financial Services during the 4th quarter valued at approximately $218,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Burke & Herbert Financial Services by 24.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 20,512 shares of the company’s stock valued at $1,279,000 after purchasing an additional 4,029 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new position in Burke & Herbert Financial Services during the 4th quarter valued at approximately $381,000. Finally, GAMMA Investing LLC boosted its position in Burke & Herbert Financial Services by 14,181.8% during the 1st quarter. GAMMA Investing LLC now owns 6,284 shares of the company’s stock valued at $353,000 after purchasing an additional 6,240 shares during the period.

Wall Street Analysts Forecast Growth

BHRB has been the subject of a number of analyst reports. Wall Street Zen lowered Burke & Herbert Financial Services from a “buy” rating to a “hold” rating in a research report on Saturday, July 26th. Keefe, Bruyette & Woods boosted their price target on Burke & Herbert Financial Services from $70.00 to $72.00 and gave the stock an “outperform” rating in a research report on Monday, July 28th. DA Davidson boosted their price target on 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. Finally, Janney Montgomery Scott assumed coverage on Burke & Herbert Financial Services in a research report on Thursday, July 10th. They set a “buy” rating and a $70.00 price target for the company. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $71.67.

Burke & Herbert Financial Services Trading Down 2.2%

Shares of Burke & Herbert Financial Services stock opened at $61.27 on Tuesday. 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 $920.28 million, a price-to-earnings ratio of 8.89 and a beta of 1.21. The business has a fifty day simple moving average of $61.41 and a 200-day simple moving average of $58.45. Burke & Herbert Financial Services Corp. has a fifty-two week low of $47.57 and a fifty-two week high of $75.32.

Burke & Herbert Financial Services (NASDAQ:BHRB) last announced its quarterly earnings data on Thursday, July 24th. The company reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.12. The business had revenue of $87.11 million during the quarter, compared to analyst estimates of $86.06 million. Burke & Herbert Financial Services had a return on equity of 15.39% and a net margin of 20.93%. On average, equities analysts forecast that Burke & Herbert Financial Services Corp. will post 8.05 EPS for the current fiscal year.

Burke & Herbert Financial Services Dividend Announcement

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

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.