Fannie Mae, Freddie Mac shares tumble after conservatorship comments
A recent SEC filing reveals that Jose David Riojas, a director at Burke & Herbert Financial Services Corp. (OTC:BHRB), has acquired a significant amount of the company’s common stock. On June 5, 2025, Riojas purchased 500 shares at a price of $55.85 each, totaling $27,925. This transaction increases his total holdings to 19,000 shares, held indirectly through the Jose and Susan Riojas Joint Revocable Trust. Additionally, he maintains direct ownership of 11,200 shares. The purchase comes as BHRB maintains its 19-year streak of consistent dividend payments, with InvestingPro analysis suggesting the stock is currently trading below its Fair Value.
In other recent news, Burke & Herbert Financial Services Corp. reported a strong first-quarter performance with a net income of $27.0 million, or $1.80 per diluted share, which is an increase from the previous quarter’s $19.6 million. The company announced a regular cash dividend of $0.55 per share and authorized a share repurchase program of up to $50.0 million. In terms of corporate governance, shareholders approved the election of all fifteen directors at the Annual Meeting, with each director receiving a substantial majority of votes. The appointment of Crowe LLP as the independent registered public accounting firm was also ratified. Burke & Herbert appointed Patrick "Kip" Huffman as the new Senior Vice President and Chief Accounting Officer, bringing nearly two decades of experience to the role. Meanwhile, the company announced the departure of Julie R. Markwood, its former Chief Accounting Officer, due to health reasons after a 37-year tenure. Kirtan Parikh will serve as the Interim Chief Accounting Officer. These developments reflect Burke & Herbert’s ongoing efforts to strengthen its financial and leadership positions.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.