Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Director Acquires $250,381.12 in Stock

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Director Gary L. Hinkle acquired 3,652 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was bought at an average price of $68.56 per share, with a total value of $250,381.12. Following the completion of the acquisition, the director now directly owns 236,807 shares of the company’s stock, valued at $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 SEC, which is available through this hyperlink.

Burke & Herbert Financial Services Stock Performance

BHRB traded up $0.21 during midday trading on Tuesday, hitting $67.82. The company had a trading volume of 33,355 shares, compared to its average volume of 36,769. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.15. The stock’s 50 day moving average price is $63.59 and its 200 day moving average price is $58.35. Burke & Herbert Financial Services Corp. has a 52 week low of $45.69 and a 52 week high of $75.32.

Burke & Herbert Financial Services Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date of this dividend is Friday, November 15th. This is a positive change from Burke & Herbert Financial Services’s previous quarterly dividend of $0.53.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in BHRB. Fourthstone LLC raised its stake in shares of Burke & Herbert Financial Services by 29.3% in the third quarter. Fourthstone LLC now owns 397,598 shares of the company’s stock worth $24,250,000 after purchasing an additional 90,151 shares during the last quarter. Dimensional Fund Advisors LP bought a new position in shares of Burke & Herbert Financial Services in the second quarter valued at approximately $18,137,000. Vanguard Group Inc. boosted its stake in Burke & Herbert Financial Services by 1.4% in 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 period. Burke & Herbert Bank & Trust Co. grew its holdings 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 buying an additional 103,527 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Burke & Herbert Financial Services by 5.2% during the third quarter. Geode Capital Management LLC now owns 306,243 shares of the company’s stock valued at $18,681,000 after buying an additional 15,092 shares during the period.

Wall Street Analyst Weigh In

BHRB has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods decreased their target price on shares of 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 started coverage on Burke & Herbert Financial Services in a report on Wednesday, October 16th. They set a “buy” rating and a $76.00 price target for the company.

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.