Burke & Herbert Financial Services Corp. (BHRB) To Go Ex-Dividend on February 14th

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) declared a quarterly dividend on Thursday, January 23rd,Wall Street Journal reports. Stockholders of record on Friday, February 14th will be paid a dividend of 0.55 per share on Monday, March 3rd. This represents a $2.20 annualized dividend and a dividend yield of 3.37%. The ex-dividend date of this dividend is Friday, February 14th.

Burke & Herbert Financial Services has increased its dividend by an average of 2.3% per year over the last three years. Burke & Herbert Financial Services has a dividend payout ratio of 28.0% indicating that its dividend is sufficiently covered by earnings.

Burke & Herbert Financial Services Trading Up 1.7 %

Shares of BHRB opened at $65.33 on Wednesday. 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 has a 1-year low of $46.00 and a 1-year high of $75.32. The company has a market capitalization of $977.99 million and a P/E ratio of 27.22. The firm’s 50 day simple moving average is $64.01 and its 200 day simple moving average is $64.17.

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 the consensus estimate of $1.77. Burke & Herbert Financial Services had a net margin of 8.88% and a return on equity of 15.15%. Sell-side analysts forecast that Burke & Herbert Financial Services will post 8.05 earnings per share for the current fiscal year.

Insider Activity at Burke & Herbert Financial Services

In other news, Director Gary L. Hinkle purchased 3,652 shares of the company’s stock in a transaction on Friday, November 15th. The stock was acquired at an average price of $68.56 per share, with a total value of $250,381.12. Following the transaction, the director now directly owns 236,807 shares of the company’s stock, valued at approximately $16,235,487.92. This represents a 1.57 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Shawn Patrick Mclaughlin acquired 555 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was purchased at an average price of $69.35 per share, for a total transaction of $38,489.25. Following the transaction, the director now directly owns 61,000 shares of the company’s stock, valued at approximately $4,230,350. This trade represents a 0.92 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 13,950 shares of company stock valued at $937,101. Insiders own 9.65% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Keefe, Bruyette & Woods raised Burke & Herbert Financial Services from a “market perform” rating to an “outperform” rating and dropped their price target for the stock from $79.00 to $76.00 in a research note on Monday, January 27th. DA Davidson assumed coverage on Burke & Herbert Financial Services in a report on Wednesday, October 16th. They set a “buy” rating and a $76.00 price objective on the stock.

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.