Emerald Mutual Fund Advisers Trust Invests $667,000 in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB)

Emerald Mutual Fund Advisers Trust purchased a new stake in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 13,080 shares of the company’s stock, valued at approximately $667,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Hendershot Investments Inc. bought a new position in shares of Burke & Herbert Financial Services during the second quarter worth approximately $773,000. TIAA Trust National Association acquired a new stake in shares of Burke & Herbert Financial Services during the second quarter worth $213,000. Rhumbline Advisers boosted its position in shares of Burke & Herbert Financial Services by 126.9% in the second quarter. Rhumbline Advisers now owns 18,973 shares of the company’s stock valued at $967,000 after acquiring an additional 10,613 shares during the period. Burney Co. acquired a new position in shares of Burke & Herbert Financial Services in the second quarter valued at about $246,000. Finally, Bank of New York Mellon Corp increased its position in Burke & Herbert Financial Services by 96.0% during the second quarter. Bank of New York Mellon Corp now owns 81,204 shares of the company’s stock worth $4,140,000 after acquiring an additional 39,769 shares during the period.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

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

Burke & Herbert Financial Services Stock Performance

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

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

Burke & Herbert Financial Services Dividend Announcement

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

About Burke & Herbert Financial Services

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.