Hendershot Investments Inc. Lowers Stake in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB)

Hendershot Investments Inc. cut its stake in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) by 39.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,172 shares of the company’s stock after selling 5,984 shares during the quarter. Hendershot Investments Inc. owned about 0.06% of Burke & Herbert Financial Services worth $559,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Fourthstone LLC grew its stake in Burke & Herbert Financial Services by 29.3% during the 3rd quarter. Fourthstone LLC now owns 397,598 shares of the company’s stock worth $24,250,000 after buying an additional 90,151 shares during the last quarter. Dimensional Fund Advisors LP acquired a new stake in Burke & Herbert Financial Services in the 2nd quarter worth approximately $18,137,000. Vanguard Group Inc. grew its position in Burke & Herbert Financial Services by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 341,705 shares of the company’s stock worth $19,146,000 after purchasing an additional 4,574 shares during the last quarter. Burke & Herbert Bank & Trust Co. increased its stake in Burke & Herbert Financial Services by 50.6% during the 2nd quarter. Burke & Herbert Bank & Trust Co. now owns 308,251 shares of the company’s stock valued at $15,715,000 after purchasing an additional 103,527 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of Burke & Herbert Financial Services by 9.9% in the third quarter. State Street Corp now owns 289,576 shares of the company’s stock worth $17,661,000 after buying an additional 26,191 shares during the last quarter.

Insider Buying and Selling at Burke & Herbert Financial Services

In other Burke & Herbert Financial Services news, Director Gary L. Hinkle purchased 3,652 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was purchased at an average price of $68.56 per share, for a total transaction of $250,381.12. Following the purchase, the director now directly owns 236,807 shares in the company, valued at approximately $16,235,487.92. This trade represents a 1.57 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last ninety days, insiders purchased 5,395 shares of company stock valued at $369,972. 9.65% of the stock is owned by company insiders.

Burke & Herbert Financial Services Price Performance

NASDAQ:BHRB opened at $70.10 on Friday. The firm’s fifty day moving average is $65.09 and its two-hundred day moving average is $60.07. Burke & Herbert Financial Services Corp. has a one year low of $46.00 and a one year high of $75.32. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.15.

Burke & Herbert Financial Services Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 15th were given a dividend of $0.55 per share. This is a boost from Burke & Herbert Financial Services’s previous quarterly dividend of $0.53. This represents a $2.20 annualized dividend and a yield of 3.14%. The ex-dividend date of this dividend was Friday, November 15th.

Wall Street Analyst Weigh In

BHRB has been the subject of a number of research reports. DA Davidson began coverage on Burke & Herbert Financial Services in a research report on Wednesday, October 16th. They set a “buy” rating and a $76.00 price target for the company. Keefe, Bruyette & Woods increased their price target on shares of Burke & Herbert Financial Services from $72.00 to $79.00 and gave the stock a “market perform” rating in a report on Wednesday.

Burke & Herbert Financial Services Profile

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.