Insider Buying: Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Director Buys 3,000 Shares of Stock

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Director Julian Forrest Jr. Barnwell bought 3,000 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The shares were acquired at an average cost of $68.75 per share, with a total value of $206,250.00. Following the transaction, the director now owns 182,939 shares in the company, valued at approximately $12,577,056.25. This represents a 1.67 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Burke & Herbert Financial Services Stock Down 0.5 %

NASDAQ:BHRB traded down $0.37 during mid-day trading on Friday, reaching $69.16. The stock had a trading volume of 38,162 shares, compared to its average volume of 37,126. The stock’s 50 day simple moving average is $65.98 and its two-hundred day simple moving average is $60.66. Burke & Herbert Financial Services Corp. has a 1-year low of $46.00 and a 1-year high of $75.32. The company has a market capitalization of $1.04 billion and a price-to-earnings ratio of 9.04. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.83 and a quick ratio of 0.83.

Burke & Herbert Financial Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 15th were issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date was Friday, November 15th. This is an increase from Burke & Herbert Financial Services’s previous quarterly dividend of $0.53. Burke & Herbert Financial Services’s payout ratio is currently 28.61%.

Institutional Trading of Burke & Herbert Financial Services

A number of institutional investors and hedge funds have recently modified their holdings of BHRB. Virtu Financial LLC acquired a new stake in Burke & Herbert Financial Services during the third quarter worth about $526,000. Barclays PLC lifted its holdings in shares of Burke & Herbert Financial Services by 204.0% in the 3rd quarter. Barclays PLC now owns 22,225 shares of the company’s stock worth $1,357,000 after purchasing an additional 14,915 shares during the last quarter. Mittelman Wealth Management bought a new position in Burke & Herbert Financial Services during the 3rd quarter worth $659,000. Geode Capital Management LLC grew 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 worth $18,681,000 after acquiring an additional 15,092 shares during the last quarter. Finally, Jane Street Group LLC grew its position in Burke & Herbert Financial Services by 6.9% in the 3rd quarter. Jane Street Group LLC now owns 18,772 shares of the company’s stock worth $1,145,000 after purchasing an additional 1,218 shares during the last quarter.

Analysts Set New Price Targets

BHRB has been the subject of several recent research reports. Keefe, Bruyette & Woods increased their price objective on shares of Burke & Herbert Financial Services from $72.00 to $79.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. DA Davidson initiated coverage on Burke & Herbert Financial Services in a research report on Wednesday, October 16th. They issued a “buy” rating and a $76.00 price objective on the stock.

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.