Burke & Herbert Financial Services (NASDAQ:BHRB) Sees Unusually-High Trading Volume – Should You Buy?

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) saw an uptick in trading volume on Tuesday . 40,245 shares changed hands during trading, an increase of 11% from the previous session’s volume of 36,243 shares.The stock last traded at $63.05 and had previously closed at $62.09.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods raised shares of Burke & Herbert Financial Services from a “market perform” rating to an “outperform” rating and decreased their price target for the company from $79.00 to $76.00 in a research note on Monday, January 27th.

Burke & Herbert Financial Services Trading Up 0.6 %

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 of $62.76 and a 200 day moving average of $64.17. The company has a market cap of $934.64 million and a PE ratio of 26.01.

Burke & Herbert Financial Services (NASDAQ:BHRB) last posted its quarterly earnings data on Friday, January 24th. The company reported $1.77 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.77. Burke & Herbert Financial Services had a net margin of 8.88% and a return on equity of 15.15%. Analysts predict that Burke & Herbert Financial Services Corp. will post 8.05 earnings per share for the current year.

Burke & Herbert Financial Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 3.52%. The ex-dividend date is Friday, February 14th. Burke & Herbert Financial Services’s dividend payout ratio (DPR) is presently 91.67%.

Insider Activity at Burke & Herbert Financial Services

In other Burke & Herbert Financial Services news, Director Shawn Patrick Mclaughlin acquired 555 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The shares were bought at an average cost of $69.35 per share, with a total value of $38,489.25. Following the completion of the acquisition, the director now directly owns 61,000 shares in the company, valued at $4,230,350. This represents a 0.92 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gary L. Hinkle purchased 1,000 shares of Burke & Herbert Financial Services stock in a transaction dated Friday, January 31st. The stock was bought at an average cost of $64.48 per share, with a total value of $64,480.00. Following the completion of the transaction, the director now owns 244,355 shares in the company, valued at approximately $15,756,010.40. This represents a 0.41 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased 15,750 shares of company stock worth $1,024,432 in the last 90 days. 9.65% of the stock is owned by corporate insiders.

Institutional Trading of Burke & Herbert Financial Services

A number of institutional investors have recently made changes to their positions in the business. Modera Wealth Management LLC purchased a new stake in shares of Burke & Herbert Financial Services during the third quarter worth about $383,000. Verdence Capital Advisors LLC boosted its stake in Burke & Herbert Financial Services by 18.4% in 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 in the last quarter. Quest Partners LLC purchased a new stake in Burke & Herbert Financial Services during the 3rd quarter worth approximately $478,000. Charles Schwab Investment Management Inc. increased its stake in Burke & Herbert Financial Services by 190.2% during 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 in the last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of Burke & Herbert Financial Services in the third quarter worth $118,000.

Burke & Herbert Financial Services Company Profile

Burke Herbert Financial Services Corp. is a bank holding company, which engages in the provision of banking products and financial services to small to medium-sized businesses, their owners and employees, professional corporations, non-profits, and individuals. It operates through the following loan portfolio segments: Commercial Real Estate, Owner-Occupied Commercial Real Estate, Acquisition, Construction, and Development, Commercial and Industrial, Single Family Residential (1-4 Units), and Consumer Non-Real Estate and Other.