Insider Buying: Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Director Buys 1,000 Shares of Stock

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Director Gary L. Hinkle bought 1,000 shares of the stock in a transaction on Friday, January 31st. The shares were acquired at an average cost of $64.48 per share, for a total transaction of $64,480.00. Following the purchase, the director now owns 244,355 shares in the company, valued at $15,756,010.40. The trade was a 0.41 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Burke & Herbert Financial Services Stock Down 0.1 %

BHRB traded down $0.05 on Friday, reaching $64.31. The company’s stock had a trading volume of 25,531 shares, compared to its average volume of 30,742. The stock has a 50 day moving average of $64.71 and a two-hundred day moving average of $63.93. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $962.72 million and a price-to-earnings ratio of 26.80. 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 (NASDAQ:BHRB) last released its quarterly earnings results on Friday, January 24th. The company reported $1.77 EPS for the quarter, hitting the consensus estimate of $1.77. Burke & Herbert Financial Services had a return on equity of 15.15% and a net margin of 8.88%. As a group, analysts forecast that Burke & Herbert Financial Services Corp. will post 8.05 EPS for the current fiscal year.

Burke & Herbert Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 3.42%. The ex-dividend date of this dividend is Friday, February 14th. Burke & Herbert Financial Services’s dividend payout ratio (DPR) is 91.67%.

Institutional Trading of Burke & Herbert Financial Services

A number of large investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP purchased a new position in Burke & Herbert Financial Services during the second quarter worth about $18,137,000. Marshall Wace LLP purchased a new stake in shares of Burke & Herbert Financial Services during the 2nd quarter valued at about $427,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Burke & Herbert Financial Services during the 2nd quarter valued at about $259,000. Truist Financial Corp acquired a new stake in Burke & Herbert Financial Services during the 2nd quarter valued at approximately $202,000. Finally, SG Americas Securities LLC grew its stake in 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 valued at $309,000 after purchasing an additional 2,696 shares in the last quarter.

Analyst Ratings Changes

Several research analysts have recently commented on BHRB shares. DA Davidson started coverage on Burke & Herbert Financial Services in a report on Wednesday, October 16th. They set a “buy” rating and a $76.00 price target on the stock. Keefe, Bruyette & Woods upgraded shares of Burke & Herbert Financial Services from a “market perform” rating to an “outperform” rating and reduced their price objective for the company from $79.00 to $76.00 in a report on Monday.

About Burke & Herbert Financial Services

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.