Insider Buying: Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Director Buys $206,250.00 in Stock

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Director Julian Forrest Jr. Barnwell purchased 3,000 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were acquired at an average price of $68.75 per share, for a total transaction of $206,250.00. Following the completion of the transaction, the director now owns 182,939 shares in the company, valued at $12,577,056.25. The trade was a 1.67 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink.

Burke & Herbert Financial Services Stock Performance

BHRB stock opened at $69.16 on Monday. The stock has a market capitalization of $1.04 billion and a PE ratio of 8.99. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.83 and a quick ratio of 0.83. The company has a 50 day moving average price of $66.19 and a 200 day moving average price of $60.85. Burke & Herbert Financial Services Corp. has a fifty-two week low of $46.00 and a fifty-two week high of $75.32.

Burke & Herbert Financial Services Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 15th were paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 3.18%. The ex-dividend date of this dividend was Friday, November 15th. This is a positive change from Burke & Herbert Financial Services’s previous quarterly dividend of $0.53. Burke & Herbert Financial Services’s dividend payout ratio is 28.61%.

Institutional Trading of Burke & Herbert Financial Services

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BHRB. Fourthstone LLC boosted its stake in shares of Burke & Herbert Financial Services by 29.3% in the 3rd quarter. Fourthstone LLC now owns 397,598 shares of the company’s stock valued at $24,250,000 after purchasing an additional 90,151 shares during the last quarter. Dimensional Fund Advisors LP bought a new position in Burke & Herbert Financial Services in the second quarter valued at approximately $18,137,000. Geode Capital Management LLC grew its holdings in Burke & Herbert Financial Services by 5.2% during the 3rd quarter. Geode Capital Management LLC now owns 306,243 shares of the company’s stock worth $18,681,000 after acquiring an additional 15,092 shares during the period. State Street Corp raised its position in shares of Burke & Herbert Financial Services by 9.9% during the 3rd quarter. State Street Corp now owns 289,576 shares of the company’s stock valued at $17,661,000 after acquiring an additional 26,191 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Burke & Herbert Financial Services by 190.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 108,481 shares of the company’s stock valued at $6,616,000 after purchasing an additional 71,105 shares during the period.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Keefe, Bruyette & Woods increased their target price on Burke & Herbert Financial Services from $72.00 to $79.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. 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.

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.