Emerald Mutual Fund Advisers Trust Acquires New Holdings in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB)

Emerald Mutual Fund Advisers Trust bought a new position in shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRBFree Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 13,080 shares of the company’s stock, valued at approximately $667,000. Emerald Mutual Fund Advisers Trust owned 0.09% of Burke & Herbert Financial Services as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of BHRB. Vanguard Group Inc. raised its holdings in shares of Burke & Herbert Financial Services by 1.4% during the first quarter. Vanguard Group Inc. now owns 341,705 shares of the company’s stock worth $19,146,000 after acquiring an additional 4,574 shares during the period. Quadrature Capital Ltd acquired a new stake in shares of Burke & Herbert Financial Services in the 1st quarter valued at about $392,000. Folger Nolan Fleming Douglas Capital Management Inc. bought a new stake in shares of Burke & Herbert Financial Services in the second quarter valued at about $280,000. Fortitude Family Office LLC boosted its position in shares of Burke & Herbert Financial Services by 1,666.0% during the second quarter. Fortitude Family Office LLC now owns 936 shares of the company’s stock worth $48,000 after buying an additional 883 shares during the period. Finally, Burke & Herbert Bank & Trust Co. grew its holdings in shares of Burke & Herbert Financial Services by 50.6% during the second quarter. Burke & Herbert Bank & Trust Co. now owns 308,251 shares of the company’s stock worth $15,715,000 after buying an additional 103,527 shares in the last quarter.

Insiders Place Their Bets

In other news, Director Gary L. Hinkle bought 5,000 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was acquired at an average cost of $68.09 per share, with a total value of $340,450.00. Following the completion of the purchase, the director now owns 233,155 shares of the company’s stock, valued at $15,875,523.95. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Gary L. Hinkle bought 5,000 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were bought at an average cost of $68.09 per share, with a total value of $340,450.00. Following the acquisition, the director now owns 233,155 shares in the company, valued at $15,875,523.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jose David Riojas bought 1,397 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The stock was purchased at an average price of $47.49 per share, with a total value of $66,343.53. Following the completion of the purchase, the director now directly owns 16,000 shares in the company, valued at approximately $759,840. The disclosure for this purchase can be found here. Insiders have purchased 6,647 shares of company stock valued at $421,669 in the last 90 days. 9.65% of the stock is currently owned by insiders.

Burke & Herbert Financial Services Stock Performance

Shares of BHRB opened at $62.97 on Friday. The stock has a market capitalization of $934.98 million and a price-to-earnings ratio of 7.73. Burke & Herbert Financial Services Corp. has a 12 month low of $42.91 and a 12 month high of $70.00. The firm has a fifty day simple moving average of $60.27 and a 200 day simple moving average of $54.88. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.16.

Burke & Herbert Financial Services (NASDAQ:BHRBGet Free Report) last posted its quarterly earnings data on Friday, July 26th. The company reported $2.04 EPS for the quarter. The company had revenue of $69.27 million during the quarter. Burke & Herbert Financial Services had a negative net margin of 1.10% and a positive return on equity of 9.96%.

Burke & Herbert Financial Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were paid a $0.53 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $2.12 dividend on an annualized basis and a yield of 3.37%. Burke & Herbert Financial Services’s dividend payout ratio is 26.01%.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods boosted their target price on Burke & Herbert Financial Services from $66.00 to $73.00 and gave the company a “market perform” rating in a research note on Monday, July 29th.

Get Our Latest Analysis on Burke & Herbert Financial Services

Burke & Herbert Financial Services Company Profile

(Free Report)

Burke & Herbert Financial Services Corp. operates as the bank holding company for Burke & Herbert Bank & Trust Company that provides various community banking products and services in Virginia and Maryland. It offers consumer and commercial deposit products, such as digital banking, demand, negotiable order of withdrawal, money market, and savings accounts, as well as certificates of deposit.

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Institutional Ownership by Quarter for Burke & Herbert Financial Services (NASDAQ:BHRB)

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