Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Director Gary L. Hinkle Acquires 1,548 Shares of Stock

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Director Gary L. Hinkle bought 1,548 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 238,355 shares of the company’s stock, valued at $16,327,317.50. This trade represents a 0.65 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Burke & Herbert Financial Services Stock Up 0.4 %

Shares of BHRB stock 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. Burke & Herbert Financial Services Corp. has a one year low of $45.69 and a one year high of $75.32. The company’s fifty day moving average price is $63.59 and its 200-day moving average price is $58.35. The company has a market capitalization of $1.02 billion and a price-to-earnings ratio of 9.79.

Burke & Herbert Financial Services Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be given a dividend of $0.55 per share. The ex-dividend date is Friday, November 15th. This represents a $2.20 annualized dividend and a dividend 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 (DPR) is currently 31.75%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in BHRB. Vanguard Group Inc. raised its position in shares of Burke & Herbert Financial Services by 1.4% during the first quarter. Vanguard Group Inc. now owns 341,705 shares of the company’s stock valued at $19,146,000 after buying an additional 4,574 shares during the last quarter. Quadrature Capital Ltd bought a new stake in Burke & Herbert Financial Services in the 1st quarter valued at $392,000. Folger Nolan Fleming Douglas Capital Management Inc. purchased a new stake in Burke & Herbert Financial Services in the 2nd quarter worth $280,000. Fortitude Family Office LLC boosted its holdings in shares of 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 valued at $48,000 after purchasing an additional 883 shares during the last quarter. Finally, Burke & Herbert Bank & Trust Co. grew its position in shares of Burke & Herbert Financial Services by 50.6% during the second 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.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on BHRB shares. Keefe, Bruyette & Woods reduced their price objective on Burke & Herbert Financial Services from $73.00 to $72.00 and set a “market perform” rating for the company in a research note on Tuesday, October 29th. DA Davidson initiated coverage on Burke & Herbert Financial Services in a research note 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.