Wealth Enhancement Advisory Services LLC Increases Holdings in Burke & Herbert Financial Services Corp. $BHRB

Wealth Enhancement Advisory Services LLC raised its holdings in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) by 7.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,600 shares of the company’s stock after purchasing an additional 470 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Burke & Herbert Financial Services were worth $422,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. State of Wyoming acquired a new stake in shares of Burke & Herbert Financial Services in the first quarter worth approximately $49,000. PNC Financial Services Group Inc. raised its stake in shares of Burke & Herbert Financial Services by 104.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,802 shares of the company’s stock valued at $101,000 after purchasing an additional 920 shares in the last quarter. Larson Financial Group LLC bought a new position in Burke & Herbert Financial Services during the first quarter worth $141,000. Quantbot Technologies LP raised its stake in Burke & Herbert Financial Services by 360,400.0% during the first quarter. Quantbot Technologies LP now owns 3,605 shares of the company’s stock worth $202,000 after acquiring an additional 3,604 shares during the period. Finally, Hsbc Holdings PLC bought a new stake in Burke & Herbert Financial Services in the 1st quarter valued at about $221,000.

Burke & Herbert Financial Services Trading Up 2.2%

BHRB opened at $61.56 on Tuesday. Burke & Herbert Financial Services Corp. has a 1-year low of $47.57 and a 1-year high of $75.32. The stock has a market capitalization of $924.63 million, a PE ratio of 8.93 and a beta of 1.11. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.15. The firm has a 50-day moving average price of $61.15 and a two-hundred day moving average price of $58.54.

Burke & Herbert Financial Services (NASDAQ:BHRB) last released its quarterly earnings results on Thursday, July 24th. The company reported $1.97 EPS for the quarter, beating the consensus estimate 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 business had revenue of $87.11 million for the quarter, compared to analysts’ expectations of $86.06 million. As a group, equities analysts anticipate that Burke & Herbert Financial Services Corp. will post 8.05 earnings per share for the current fiscal year.

Burke & Herbert Financial Services Announces Dividend

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

Analyst Upgrades and Downgrades

BHRB has been the topic of several research analyst reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Burke & Herbert Financial Services in a research report on Saturday, September 27th. Wall Street Zen lowered shares of Burke & Herbert Financial Services from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. Janney Montgomery Scott assumed coverage on shares of Burke & Herbert Financial Services in a research note on Thursday, July 10th. They set a “buy” rating and a $70.00 target price for the company. DA Davidson increased their price target 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. Finally, Keefe, Bruyette & Woods lifted their price objective on Burke & Herbert Financial Services from $70.00 to $72.00 and gave the company an “outperform” rating in a report on Monday, July 28th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $71.67.

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.