16,664 Shares in Burke & Herbert Financial Services Corp. $BHRB Bought by Principal Financial Group Inc.

Principal Financial Group Inc. bought a new stake in shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 16,664 shares of the company’s stock, valued at approximately $1,038,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Goldman Sachs Group Inc. lifted its stake in Burke & Herbert Financial Services by 68.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 164,263 shares of the company’s stock worth $10,235,000 after purchasing an additional 66,778 shares in the last quarter. Bridgeway Capital Management LLC boosted its holdings in shares of Burke & Herbert Financial Services by 235.4% during the 4th quarter. Bridgeway Capital Management LLC now owns 81,653 shares of the company’s stock valued at $5,088,000 after purchasing an additional 57,306 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Burke & Herbert Financial Services by 12.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 317,991 shares of the company’s stock valued at $19,814,000 after purchasing an additional 36,027 shares in the last quarter. Empowered Funds LLC grew its position in shares of Burke & Herbert Financial Services by 122.0% during the fourth quarter. Empowered Funds LLC now owns 46,053 shares of the company’s stock valued at $2,870,000 after purchasing an additional 25,306 shares in the last quarter. Finally, Jane Street Group LLC bought a new stake in shares of Burke & Herbert Financial Services in the first quarter worth about $1,287,000.

Insider Buying and Selling

In other news, Director Julian Forrest Jr. Barnwell purchased 5,000 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was purchased at an average cost of $63.05 per share, with a total value of $315,250.00. Following the purchase, the director owned 208,939 shares in the company, valued at approximately $13,173,603.95. This trade represents a 2.45% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jill S. Upson sold 1,112 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $63.30, for a total transaction of $70,389.60. Following the transaction, the director owned 2,000 shares in the company, valued at $126,600. The trade was a 35.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders bought 11,300 shares of company stock valued at $709,650. Company insiders own 11.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Keefe, Bruyette & Woods boosted their target price on Burke & Herbert Financial Services from $80.00 to $81.00 and gave the stock an “outperform” rating in a research report on Friday. DA Davidson set a $75.00 price target on Burke & Herbert Financial Services in a report on Monday. Freedom Capital raised Burke & Herbert Financial Services from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 15th. Weiss Ratings raised Burke & Herbert Financial Services from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, June 29th. Finally, Wall Street Zen cut Burke & Herbert Financial Services from a “hold” rating to a “sell” rating in a report on Saturday. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $75.25.

Burke & Herbert Financial Services Stock Up 0.3%

Shares of BHRB opened at $73.25 on Friday. The company has a market cap of $1.48 billion, a PE ratio of 11.74 and a beta of 0.58. The business has a fifty day moving average of $68.32 and a 200 day moving average of $65.81. Burke & Herbert Financial Services Corp. has a 52-week low of $56.11 and a 52-week high of $74.32. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.10.

Burke & Herbert Financial Services (NASDAQ:BHRB) last posted its quarterly earnings data on Thursday, July 23rd. The company reported $2.03 EPS for the quarter, topping the consensus estimate of $1.98 by $0.05. Burke & Herbert Financial Services had a net margin of 18.86% and a return on equity of 15.11%. The company had revenue of $106.90 million during the quarter, compared to analyst estimates of $112.86 million. On average, sell-side analysts expect that Burke & Herbert Financial Services Corp. will post 8.19 EPS for the current year.

Burke & Herbert Financial Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Friday, August 14th. Burke & Herbert Financial Services’s dividend payout ratio (DPR) is 35.26%.

About Burke & Herbert Financial Services

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.