Insider Buying: Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Director Buys $250,381.12 in Stock

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Director Gary L. Hinkle purchased 3,652 shares of Burke & Herbert Financial Services stock in a transaction dated Friday, November 15th. The stock was acquired at an average price of $68.56 per share, for a total transaction of $250,381.12. Following the completion of the acquisition, the director now owns 236,807 shares of the company’s stock, valued at approximately $16,235,487.92. This trade represents a 1.57 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Burke & Herbert Financial Services Trading Up 1.3 %

Shares of NASDAQ:BHRB opened at $68.69 on Friday. 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 business’s 50 day moving average is $63.74 and its 200 day moving average is $58.50. Burke & Herbert Financial Services Corp. has a 52-week low of $46.00 and a 52-week high of $75.32.

Burke & Herbert Financial Services Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 3.20%. The ex-dividend date is Friday, November 15th. This is a boost from Burke & Herbert Financial Services’s previous quarterly dividend of $0.53.

Institutional Trading of Burke & Herbert Financial Services

Several hedge funds and other institutional investors have recently bought and sold shares of BHRB. Vanguard Group Inc. boosted its position in Burke & Herbert Financial Services by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 341,705 shares of the company’s stock valued at $19,146,000 after acquiring an additional 4,574 shares in the last quarter. Quadrature Capital Ltd bought a new stake in Burke & Herbert Financial Services during the 1st quarter valued at $392,000. Folger Nolan Fleming Douglas Capital Management Inc. acquired a new stake in shares of Burke & Herbert Financial Services in the 2nd quarter worth $280,000. Fortitude Family Office LLC increased its position in Burke & Herbert Financial Services by 1,666.0% during the 2nd quarter. Fortitude Family Office LLC now owns 936 shares of the company’s stock valued at $48,000 after buying an additional 883 shares in the last quarter. Finally, Burke & Herbert Bank & Trust Co. grew its stake in shares of Burke & Herbert Financial Services by 50.6% during the second quarter. Burke & Herbert Bank & Trust Co. now owns 308,251 shares of the company’s stock worth $15,715,000 after acquiring an additional 103,527 shares during the last quarter.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on BHRB shares. Keefe, Bruyette & Woods dropped their price objective on Burke & Herbert Financial Services from $73.00 to $72.00 and set a “market perform” rating on the stock in a research note on Tuesday, October 29th. DA Davidson started coverage on Burke & Herbert Financial Services in a research note on Wednesday, October 16th. They issued 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.