Insider Buying: Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Director Buys 1,548 Shares of Stock

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Director Gary L. Hinkle purchased 1,548 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were purchased at an average cost of $68.50 per share, for a total transaction of $106,038.00. Following the completion of the purchase, the director now directly owns 238,355 shares in the company, valued at $16,327,317.50. The trade was a 0.65 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Burke & Herbert Financial Services Stock Up 0.3 %

Shares of BHRB traded up $0.21 during midday trading on Tuesday, reaching $67.82. 33,355 shares of the company were exchanged, compared to its average volume of 36,769. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.15. Burke & Herbert Financial Services Corp. has a 1-year low of $45.69 and a 1-year high of $75.32. The stock has a 50-day moving average price of $63.59 and a 200-day moving average price of $58.35.

Burke & Herbert Financial Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 15th will be paid a dividend of $0.55 per share. The ex-dividend date is Friday, November 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.24%. This is a positive change from Burke & Herbert Financial Services’s previous quarterly dividend of $0.53.

Wall Street Analyst Weigh In

A number of analysts have recently commented 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 for the company in a report on Tuesday, October 29th. DA Davidson started coverage on shares of Burke & Herbert Financial Services in a research report on Wednesday, October 16th. They set a “buy” rating and a $76.00 price target on the stock.

Institutional Investors Weigh In On Burke & Herbert Financial Services

A number of large investors have recently added to or reduced their stakes in the company. HHM Wealth Advisors LLC purchased a new stake in shares of Burke & Herbert Financial Services during the second quarter worth about $29,000. Fortitude Family Office LLC boosted its stake in shares of 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 during the last quarter. Quantbot Technologies LP acquired a new stake in shares of Burke & Herbert Financial Services during the third quarter worth approximately $118,000. LSV Asset Management acquired a new stake in Burke & Herbert Financial Services in the second quarter valued at $108,000. Finally, Truist Financial Corp bought a new position in shares of Burke & Herbert Financial Services during the second quarter worth about $202,000.

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.