Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Plans Quarterly Dividend of $0.55

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) declared a quarterly dividend on Monday, January 27th,Wall Street Journal reports. Investors of record on Friday, February 14th will be given a dividend of 0.55 per share on Monday, March 3rd. This represents a $2.20 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date is Friday, February 14th.

Burke & Herbert Financial Services has raised its dividend by an average of 2.3% annually over the last three years. Burke & Herbert Financial Services has a payout ratio of 29.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Burke & Herbert Financial Services to earn $7.55 per share next year, which means the company should continue to be able to cover its $2.20 annual dividend with an expected future payout ratio of 29.1%.

Burke & Herbert Financial Services Stock Performance

Shares of BHRB stock opened at $63.64 on Tuesday. The firm has a fifty day simple moving average of $65.05 and a two-hundred day simple moving average of $63.77. Burke & Herbert Financial Services has a 12 month low of $46.00 and a 12 month high of $75.32. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.83 and a current ratio of 0.83.

Burke & Herbert Financial Services (NASDAQ:BHRB) last announced its earnings results on Friday, January 24th. The company reported $1.77 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.77. Burke & Herbert Financial Services had a return on equity of 12.83% and a net margin of 6.55%. Analysts expect that Burke & Herbert Financial Services will post 6.9 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Shawn Patrick Mclaughlin acquired 555 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was purchased at an average cost of $69.35 per share, for a total transaction of $38,489.25. Following the acquisition, the director now owns 61,000 shares of the company’s stock, valued at $4,230,350. This trade represents a 0.92 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Julian Forrest Jr. Barnwell bought 3,000 shares of the company’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 transaction, the director now directly owns 182,939 shares in the company, valued at $12,577,056.25. The trade was a 1.67 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 8,950 shares of company stock valued at $614,711. Corporate insiders own 9.65% of the company’s stock.

Analyst Ratings Changes

BHRB has been the topic of a number of recent research reports. Keefe, Bruyette & Woods raised Burke & Herbert Financial Services from a “market perform” rating to an “outperform” rating and dropped their price target for the company from $79.00 to $76.00 in a research report on Monday. DA Davidson began coverage on shares of Burke & Herbert Financial Services in a research report on Wednesday, October 16th. They issued a “buy” rating and a $76.00 price target 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.