Burke & Herbert Financial Services (NASDAQ:BHRB) Price Target Cut to $72.00 by Analysts at Keefe, Bruyette & Woods

Burke & Herbert Financial Services (NASDAQ:BHRB) had its price objective reduced by Keefe, Bruyette & Woods from $73.00 to $72.00 in a report issued on Tuesday morning, Benzinga reports. They currently have a market perform rating on the stock.

Separately, DA Davidson began coverage on shares of Burke & Herbert Financial Services in a report on Wednesday, October 16th. They set a “buy” rating and a $76.00 price objective on the stock.

Burke & Herbert Financial Services Stock Performance

Shares of BHRB opened at $64.04 on Tuesday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.16. The firm has a market cap of $957.08 million and a PE ratio of 7.61. Burke & Herbert Financial Services has a 12 month low of $43.80 and a 12 month high of $70.00. The stock has a fifty day moving average price of $62.94 and a 200-day moving average price of $56.95.

Burke & Herbert Financial Services Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders 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 dividend on an annualized basis and a yield of 3.44%. This is a boost from Burke & Herbert Financial Services’s previous quarterly dividend of $0.53. Burke & Herbert Financial Services’s payout ratio is currently 26.16%.

Insider Activity

In other news, Director Gary L. Hinkle acquired 5,000 shares of Burke & Herbert Financial Services stock in a transaction dated Friday, August 23rd. The stock was purchased at an average cost of $68.09 per share, for a total transaction of $340,450.00. Following the completion of the purchase, the director now directly owns 233,155 shares in the company, valued at $15,875,523.95. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 9.65% of the company’s stock.

Institutional Trading of Burke & Herbert Financial Services

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP purchased a new stake in Burke & Herbert Financial Services in the second quarter valued at $18,137,000. Vanguard Group Inc. raised its position in shares of Burke & Herbert Financial Services by 1.4% in the first quarter. Vanguard Group Inc. now owns 341,705 shares of the company’s stock worth $19,146,000 after acquiring an additional 4,574 shares during the period. Burke & Herbert Bank & Trust Co. boosted its stake in shares of 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 worth $15,715,000 after acquiring an additional 103,527 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Burke & Herbert Financial Services by 96.0% in the second quarter. Bank of New York Mellon Corp now owns 81,204 shares of the company’s stock valued at $4,140,000 after purchasing an additional 39,769 shares during the period. Finally, American Century Companies Inc. acquired a new stake in Burke & Herbert Financial Services in the 2nd quarter valued at $3,091,000.

Burke & Herbert Financial Services Company 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.