Brookstone Capital Management Makes New Investment in Burke & Herbert Financial Services Corp. $BHRB

Brookstone Capital Management purchased a new position in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 17,856 shares of the company’s stock, valued at approximately $1,102,000. Brookstone Capital Management owned about 0.12% of Burke & Herbert Financial Services at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. State of Wyoming acquired a new position in shares of Burke & Herbert Financial Services in the 1st quarter valued at $49,000. CWM LLC grew its stake in Burke & Herbert Financial Services by 732.7% during the 2nd quarter. CWM LLC now owns 841 shares of the company’s stock valued at $50,000 after purchasing an additional 740 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Burke & Herbert Financial Services by 22.2% in the second quarter. PNC Financial Services Group Inc. now owns 2,202 shares of the company’s stock valued at $132,000 after purchasing an additional 400 shares during the period. Tower Research Capital LLC TRC raised its stake in shares of Burke & Herbert Financial Services by 585.5% in the second quarter. Tower Research Capital LLC TRC now owns 3,393 shares of the company’s stock worth $203,000 after purchasing an additional 2,898 shares during the last quarter. Finally, Sei Investments Co. acquired a new stake in shares of Burke & Herbert Financial Services during the second quarter worth about $204,000.

Insider Buying and Selling

In other Burke & Herbert Financial Services news, Director Shawn Patrick Mclaughlin acquired 1,000 shares of the company’s stock in a transaction on Tuesday, October 28th. The shares were bought at an average cost of $61.00 per share, with a total value of $61,000.00. Following the completion of the acquisition, the director owned 67,000 shares in the company, valued at approximately $4,087,000. This trade represents a 1.52% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 10.92% of the company’s stock.

Wall Street Analysts Forecast Growth

BHRB has been the topic of several research reports. Summit Redstone set a $71.00 price target on shares of Burke & Herbert Financial Services in a report on Thursday, October 9th. DA Davidson lowered shares of Burke & Herbert Financial Services from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. Weiss Ratings restated a “hold (c+)” rating on shares of Burke & Herbert Financial Services in a research report on Monday, December 22nd. Finally, Zacks Research raised Burke & Herbert Financial Services from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Burke & Herbert Financial Services currently has a consensus rating of “Hold” and a consensus target price of $71.50.

Burke & Herbert Financial Services Stock Performance

Shares of NASDAQ BHRB opened at $63.08 on Monday. The company has a market capitalization of $948.09 million, a PE ratio of 8.96 and a beta of 0.96. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.81 and a current ratio of 0.81. The company’s fifty day moving average price is $63.54 and its 200 day moving average price is $61.93. Burke & Herbert Financial Services Corp. has a 1 year low of $47.57 and a 1 year high of $70.51.

Burke & Herbert Financial Services (NASDAQ:BHRB) last released its quarterly earnings data on Friday, January 26th. The company reported $1.82 earnings per share for the quarter. Burke & Herbert Financial Services had a net margin of 21.68% and a return on equity of 14.95%. The company had revenue of $32.13 million during the quarter. On average, research analysts predict that Burke & Herbert Financial Services Corp. will post 8.05 earnings per share for the current year.

Burke & Herbert Financial Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Friday, November 14th were given a dividend of $0.55 per share. The ex-dividend date was Friday, November 14th. This represents a $2.20 dividend on an annualized basis and a yield of 3.5%. Burke & Herbert Financial Services’s dividend payout ratio is currently 31.25%.

Burke & Herbert Financial Services Profile

Burke & Herbert Financial Services, Inc is a bank holding company headquartered in Alexandria, Virginia, and the parent company of Burke & Herbert Bank. The company operates as a community‐focused financial institution, offering a full suite of commercial and consumer banking products to individuals, small businesses, and nonprofit organizations in the Washington, DC metropolitan area.

The company’s core banking services include traditional deposit accounts such as checking, savings, money market and certificates of deposit, alongside digital banking platforms for online and mobile account access.