Burke & Herbert Financial Services (NASDAQ:BHRB) Stock Price Up 6.9%

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB)’s share price rose 6.9% during mid-day trading on Tuesday . The stock traded as high as $64.99 and last traded at $64.56. Approximately 16,625 shares changed hands during trading, a decline of 32% from the average daily volume of 24,372 shares. The stock had previously closed at $60.41.

Burke & Herbert Financial Services Trading Up 0.5 %

The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 1.13. The company’s fifty day simple moving average is $51.16 and its 200-day simple moving average is $53.63.

Burke & Herbert Financial Services (NASDAQ:BHRB) last issued its earnings results on Friday, May 10th. The company reported $0.69 earnings per share (EPS) for the quarter. Burke & Herbert Financial Services had a net margin of 12.04% and a return on equity of 6.82%. The company had revenue of $26.39 million for the quarter.

Insider Activity

In other news, Director Julian Forrest Jr. Barnwell purchased 1,000 shares of the stock in a transaction dated Tuesday, June 4th. The shares were acquired at an average cost of $48.49 per share, for a total transaction of $48,490.00. Following the acquisition, the director now owns 90,221 shares of the company’s stock, valued at $4,374,816.29. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Julian Forrest Jr. Barnwell purchased 1,000 shares of the stock in a transaction dated Tuesday, June 4th. The shares were acquired at an average cost of $48.49 per share, for a total transaction of $48,490.00. Following the acquisition, the director now owns 90,221 shares of the company’s stock, valued at $4,374,816.29. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Gary L. Hinkle purchased 2,039 shares of the stock in a transaction dated Monday, May 20th. The stock was purchased at an average price of $50.25 per share, for a total transaction of $102,459.75. Following the completion of the acquisition, the director now directly owns 222,169 shares in the company, valued at approximately $11,163,992.25. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 8,730 shares of company stock worth $431,321. Corporate insiders own 9.65% of the company’s stock.

Institutional Investors Weigh In On Burke & Herbert Financial Services

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Fortitude Family Office LLC boosted its stake 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 purchasing an additional 883 shares during the last quarter. SG Americas Securities LLC boosted its stake in Burke & Herbert Financial Services by 52.3% during the 4th quarter. SG Americas Securities LLC now owns 3,955 shares of the company’s stock worth $249,000 after purchasing an additional 1,359 shares during the last quarter. Folger Nolan Fleming Douglas Capital Management Inc. acquired a new stake in Burke & Herbert Financial Services during the 2nd quarter worth $280,000. Quadrature Capital Ltd acquired a new position in shares of Burke & Herbert Financial Services during the 1st quarter valued at about $392,000. Finally, Fifth Third Bancorp acquired a new position in shares of Burke & Herbert Financial Services during the 2nd quarter valued at about $1,167,000.

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.