Moors & Cabot Inc. Sells 1,559 Shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB)

Moors & Cabot Inc. reduced its stake in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) by 5.4% during the 3rd quarter, HoldingsChannel reports. The fund owned 27,313 shares of the company’s stock after selling 1,559 shares during the quarter. Moors & Cabot Inc.’s holdings in Burke & Herbert Financial Services were worth $1,666,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Quest Partners LLC acquired a new stake in Burke & Herbert Financial Services in the 3rd quarter valued at $478,000. Verdence Capital Advisors LLC increased its stake in shares of Burke & Herbert Financial Services by 18.4% during the 3rd quarter. Verdence Capital Advisors LLC now owns 51,500 shares of the company’s stock worth $3,141,000 after purchasing an additional 8,000 shares during the last quarter. Modera Wealth Management LLC acquired a new position in shares of Burke & Herbert Financial Services during the 3rd quarter worth about $383,000. SG Americas Securities LLC increased its stake in shares of Burke & Herbert Financial Services by 113.7% during the 3rd quarter. SG Americas Securities LLC now owns 5,067 shares of the company’s stock worth $309,000 after purchasing an additional 2,696 shares during the last quarter. Finally, Truist Financial Corp acquired a new position in shares of Burke & Herbert Financial Services during the 2nd quarter worth about $202,000.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Keefe, Bruyette & Woods cut their price objective 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 assumed coverage on shares of Burke & Herbert Financial Services in a research report on Wednesday, October 16th. They set a “buy” rating and a $76.00 price objective for the company.

Burke & Herbert Financial Services Stock Performance

Shares of NASDAQ:BHRB opened at $67.78 on Thursday. Burke & Herbert Financial Services Corp. has a 12-month low of $46.00 and a 12-month high of $75.32. The company’s 50 day moving average price is $63.66 and its two-hundred day moving average price is $58.44. The firm has a market cap of $1.01 billion and a PE ratio of 9.79. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.15.

Burke & Herbert Financial Services Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 15th will be issued a dividend of $0.55 per share. The ex-dividend date is Friday, November 15th. This is a boost from Burke & Herbert Financial Services’s previous quarterly dividend of $0.53. This represents a $2.20 annualized dividend and a dividend yield of 3.25%. Burke & Herbert Financial Services’s dividend payout ratio (DPR) is currently 31.75%.

Insider Transactions at Burke & Herbert Financial Services

In other news, Director Gary L. Hinkle bought 5,000 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were purchased at an average cost of $68.09 per share, with a total value of $340,450.00. Following the acquisition, the director now directly owns 233,155 shares in the company, valued at $15,875,523.95. This represents a 2.19 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last ninety days, insiders have acquired 10,200 shares of company stock valued at $696,869. 9.65% of the stock is currently owned by company insiders.

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.