Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Director Julian Forrest Jr. Barnwell Acquires 3,000 Shares

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

Burke & Herbert Financial Services Trading Down 0.5 %

Shares of Burke & Herbert Financial Services stock opened at $69.16 on Friday. The stock has a market capitalization of $1.04 billion and a P/E ratio of 8.99. Burke & Herbert Financial Services Corp. has a 12-month low of $46.00 and a 12-month high of $75.32. 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 50-day simple moving average of $65.98 and a 200 day simple moving average of $60.66.

Burke & Herbert Financial Services Increases Dividend

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

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. DA Davidson began coverage on shares of Burke & Herbert Financial Services in a research note on Wednesday, October 16th. They issued a “buy” rating and a $76.00 price objective for the company. Keefe, Bruyette & Woods lifted their price objective on Burke & Herbert Financial Services from $72.00 to $79.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of BHRB. Fifth Third Bancorp acquired a new position in Burke & Herbert Financial Services during the 2nd quarter worth $1,167,000. Verdence Capital Advisors LLC acquired a new stake in shares of Burke & Herbert Financial Services in the 2nd quarter valued at approximately $2,218,000. Bank of New York Mellon Corp boosted its stake in Burke & Herbert Financial Services by 96.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 81,204 shares of the company’s stock worth $4,140,000 after acquiring an additional 39,769 shares during the last quarter. Burney Co. acquired a new position in Burke & Herbert Financial Services during the second quarter valued at approximately $246,000. Finally, Rhumbline Advisers increased its stake in Burke & Herbert Financial Services by 126.9% in the second quarter. Rhumbline Advisers now owns 18,973 shares of the company’s stock valued at $967,000 after purchasing an additional 10,613 shares in the last quarter.

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.