BHRB Burke & Herbert Financial Services Corp.
Executive Summary
Four institutional investors, led by Schwab (mega-passive) and Legal & General (asset manager), significantly increased their BHRB positions in Q3 2024, with aggregate buying of $5.8M versus only $30K in selling from PNC Financial. The cluster is dominated by passive and asset-manager additions, suggesting a shared view of undervaluation or sector rotation into regional banks, though the historical win rate on BHRB calls is weak (29% at T+20).
Key Financial Metrics
Institutional Positions
Net institutional flow: $5.8M
▲ Buyers (4)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Schwab | DOUBLED | +190.2% | $6.6M | $4.7M |
| Legal & General Group | DOUBLED | +767.7% | $868.0K | $785.0K |
| First Trust Advisors | ADD | +73.8% | $551.0K | $286.0K |
| Cwm | ADD | +86% | $5.00 | $3.00 |
▼ Sellers (1)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Pnc Financial Services Group | TRIM | -46.6% | $84.0K | -$30.4K |
Actionable Insight
The cluster shows strong accumulation from passive and asset-manager funds, but the 45-day 13F lag means positions may have been adjusted since quarter-end. Monitor next 13F for continuation or reversal. The weak historical win rate (29% T+20) on BHRB calls suggests caution — treat this as a modest positive signal, not a conviction buy.
Key Facts
- 4 buyers accumulated $5.8M in new positions vs 1 seller trimming $30K
- Schwab doubled its stake (+190.2%) to $6.6M, the largest buyer
- Legal & General Group nearly 8x'd its position (+767.7%) to $868K
- PNC Financial Services trimmed 46.6% of its stake, selling $30K
- 80% of analyst consensus is bullish (8 Buy/Strong Buy, 2 Hold)
Financial Impact
Net institutional buying of $5.8M in Q3 2024, with total buyer holdings at $8.0M vs seller reduction of $30K
Risk Factors
- 13F data is 45+ days stale — positions may have been unwound
- Historical BHRB calls have underperformed (avg T+20 alpha -4.46%)
- Cluster dominated by passive/index funds (Schwab) — weaker signal than active-manager-only clusters
Market Snapshot
Documents Analyzed
This report is based on 1 institutional 13F filing from SEC EDGAR.
| Document | Accession Number |
|---|---|
| INST-CLUSTER Data (Synthetic) | inst-cluster-BHRB-2024-Q3 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
|
Jun 18, 2026
today
|
3
| $65.47 awaiting T+1 | awaiting T+1 | — | — |
|
Jun 12, 2026
6d ago
|
Institutional Cluster
| $67.08 $66.18 | ▼ −1.34% | ▼ −3.11% | — |
|
May 12, 2026
5w ago
|
Insider Cluster
| $61.49 $61.78 | ▲ +0.47% | ▼ −0.31% | — |
|
May 11, 2026
5w ago
|
Insider Cluster
| $63.06 $62.33 | ▼ −1.16% | ▼ −1.02% | — |
|
May 1, 2026
6w ago
|
3
| $64.64 $63.04 | ▼ −2.48% | ▼ −2.13% | — |
|
May 1, 2026
6w ago
|
Press Release
| $64.64 $63.04 | ▼ −2.48% | ▼ −2.13% | — |
|
Apr 23, 2026
8w ago
|
8-K
| $63.96 $64.10 | ▼ −0.22% | ▼ −0.06% | — |
|
Apr 23, 2026
8w ago
|
Press Release
| $63.96 $64.10 | ▲ +0.22% | ▲ +0.06% | — |
|
Apr 13, 2026
9w ago
|
8-K
| $65.61 $65.89 | ▲ +0.43% | ▼ −0.78% | — |
|
Apr 13, 2026
9w ago
|
Press Release
| $65.61 $65.89 | ▲ +0.43% | ▼ −0.78% | — |
US Market Status
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