Alps Advisors Inc. Acquires Shares of 7,410 Burke & Herbert Financial Services Corp. $BHRB

Alps Advisors Inc. acquired a new stake in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,410 shares of the company’s stock, valued at approximately $457,000.

A number of other hedge funds also recently modified their holdings of BHRB. State of Alaska Department of Revenue acquired a new position in Burke & Herbert Financial Services in the 3rd quarter valued at about $37,000. CWM LLC lifted its position in Burke & Herbert Financial Services by 732.7% during the second quarter. CWM LLC now owns 841 shares of the company’s stock worth $50,000 after acquiring an additional 740 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Burke & Herbert Financial Services by 22.2% during the second quarter. PNC Financial Services Group Inc. now owns 2,202 shares of the company’s stock worth $132,000 after acquiring an additional 400 shares during the period. First United Bank & Trust grew its position in shares of Burke & Herbert Financial Services by 96.3% in the third quarter. First United Bank & Trust now owns 2,261 shares of the company’s stock valued at $139,000 after purchasing an additional 1,109 shares during the last quarter. Finally, Strs Ohio bought a new position in shares of Burke & Herbert Financial Services during the third quarter worth approximately $160,000.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Burke & Herbert Financial Services in a report on Monday, December 29th. DA Davidson cut Burke & Herbert Financial Services from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 20th. Finally, Zacks Research raised shares of Burke & Herbert Financial Services from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $71.50.

Burke & Herbert Financial Services Price Performance

Shares of NASDAQ BHRB opened at $68.24 on Friday. The business has a fifty day moving average price of $65.71 and a two-hundred day moving average price of $62.86. The stock has a market capitalization of $1.03 billion, a PE ratio of 8.84 and a beta of 1.02. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.81 and a quick ratio of 0.81. Burke & Herbert Financial Services Corp. has a fifty-two week low of $47.57 and a fifty-two week high of $70.90.

Burke & Herbert Financial Services (NASDAQ:BHRB) last issued its quarterly earnings results on Thursday, January 22nd. The company reported $1.98 EPS for the quarter, topping analysts’ consensus estimates of $1.91 by $0.07. Burke & Herbert Financial Services had a return on equity of 15.11% and a net margin of 23.89%.The company had revenue of $86.56 million for the quarter, compared to analysts’ expectations of $80.72 million. As a group, equities analysts predict 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 announced a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Friday, February 13th will be given a $0.55 dividend. The ex-dividend date is Friday, February 13th. This represents a $2.20 annualized dividend and a dividend yield of 3.2%. Burke & Herbert Financial Services’s payout ratio is presently 28.50%.

Burke & Herbert Financial Services Company 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.