Oklo stock tumbles as Financial Times scrutinizes valuation
In a recent SEC filing, Shawn Patrick McLaughlin, a director at Burke & Herbert Financial Services Corp. (NASDAQ:BHRB), disclosed the purchase of 1,000 shares of common stock. The shares were acquired on January 29, 2025, at prices ranging from $62.75 to $63.25, totaling an investment of $63,000.
Following these transactions, McLaughlin’s direct ownership in the company increased to 62,000 shares. Additionally, McLaughlin holds an indirect ownership of 1,000 shares through McLaughlin Ryder Investments, Inc., an affiliated company.
This transaction highlights McLaughlin’s continued investment in the financial services firm, headquartered in Alexandria, Virginia.
In other recent news, Burke & Herbert Financial Services Corp. reported several key developments. The company announced that board member Jason A. Kitzmiller will not seek re-election at the 2025 Annual Shareholder’s Meeting, continuing his duties until then. Additionally, Kirtan Parikh has stepped in as the Interim Chief Accounting Officer, filling in for Julie R. Markwood during her temporary medical leave.
Burke & Herbert also released their third-quarter financial results, the first full quarter since its merger with Summit Community Bank, Inc., and Summit Financial Group (NASDAQ:SMMF), Inc. The company reported a net income applicable to common shares of $27.4 million, earnings per diluted common share (EPS) at $1.82, and net interest income for the quarter at $73.2 million. A regular cash dividend increase was also declared, rising 3.8% to $0.55 per share.
Following the merger, analysts from DA Davidson initiated coverage on Burke & Herbert Financial Services, issuing a Buy rating and projecting rapid EPS growth for the company in the coming years. By 2025, the bank is expected to outperform its peers with a return on assets (ROA) of 1.45% and a return on tangible common equity (ROTCE) of 16.5%. These are among the recent developments shaping the future of Burke & Herbert Financial Services Corp.
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