Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Director Buys $106,038.00 in Stock

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Director Gary L. Hinkle acquired 1,548 shares of the stock in a transaction on Monday, November 18th. The shares were acquired at an average price of $68.50 per share, with a total value of $106,038.00. Following the transaction, the director now directly owns 238,355 shares of the company’s stock, valued at $16,327,317.50. The trade was a 0.65 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Burke & Herbert Financial Services Trading Up 0.4 %

Shares of BHRB opened at $67.85 on Wednesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.83 and a quick ratio of 0.83. The firm has a market capitalization of $1.02 billion and a price-to-earnings ratio of 9.79. The company has a 50-day moving average of $63.59 and a 200 day moving average of $58.35. Burke & Herbert Financial Services Corp. has a 1-year low of $45.69 and a 1-year high of $75.32.

Burke & Herbert Financial Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be paid a $0.55 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.20 annualized dividend and a yield of 3.24%. This is a boost from Burke & Herbert Financial Services’s previous quarterly dividend of $0.53. Burke & Herbert Financial Services’s dividend payout ratio is 31.75%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. HHM Wealth Advisors LLC bought a new position in shares of Burke & Herbert Financial Services during the 2nd quarter worth $29,000. Fortitude Family Office LLC grew its holdings in Burke & Herbert Financial Services by 1,666.0% during the 2nd quarter. Fortitude Family Office LLC now owns 936 shares of the company’s stock worth $48,000 after acquiring an additional 883 shares in the last quarter. LSV Asset Management purchased a new position in Burke & Herbert Financial Services during the 2nd quarter valued at about $108,000. Quantbot Technologies LP bought a new stake in shares of Burke & Herbert Financial Services in the 3rd quarter valued at about $118,000. Finally, Truist Financial Corp purchased a new stake in shares of Burke & Herbert Financial Services in the 2nd quarter worth approximately $202,000.

Wall Street Analyst Weigh In

BHRB has been the subject of several recent analyst reports. Keefe, Bruyette & Woods dropped their target price on Burke & Herbert Financial Services from $73.00 to $72.00 and set a “market perform” rating for the company in a research report on Tuesday, October 29th. DA Davidson assumed coverage on Burke & Herbert Financial Services in a research report on Wednesday, October 16th. They issued a “buy” rating and a $76.00 price objective on the stock.

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.