Keefe, Bruyette & Woods Lowers Burke & Herbert Financial Services (NASDAQ:BHRB) Price Target to $72.00

Burke & Herbert Financial Services (NASDAQ:BHRB) had its price target trimmed by Keefe, Bruyette & Woods from $73.00 to $72.00 in a report issued on Tuesday morning, Benzinga reports. They currently have a market perform rating on the stock.

Separately, DA Davidson assumed 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 objective for the company.

Burke & Herbert Financial Services Trading Down 0.7 %

Shares of Burke & Herbert Financial Services stock opened at $62.90 on Tuesday. The company has a market cap of $939.73 million and a price-to-earnings ratio of 9.08. Burke & Herbert Financial Services has a 1 year low of $44.21 and a 1 year high of $70.00. The company’s fifty day simple moving average is $62.91 and its 200-day simple moving average is $57.12. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.16.

Burke & Herbert Financial Services Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders 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 yield of 3.50%. This is an increase from Burke & Herbert Financial Services’s previous quarterly dividend of $0.53. Burke & Herbert Financial Services’s payout ratio is currently 30.59%.

Insider Buying and Selling at Burke & Herbert Financial Services

In other Burke & Herbert Financial Services news, Director Gary L. Hinkle acquired 5,000 shares of Burke & Herbert Financial Services stock in a transaction dated Friday, August 23rd. The stock was bought at an average cost of $68.09 per share, with a total value of $340,450.00. Following the acquisition, the director now owns 233,155 shares of the company’s stock, valued at approximately $15,875,523.95. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 9.65% of the company’s stock.

Hedge Funds Weigh In On Burke & Herbert Financial Services

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Burke & Herbert Financial Services by 1.4% during the first quarter. Vanguard Group Inc. now owns 341,705 shares of the company’s stock worth $19,146,000 after buying an additional 4,574 shares in the last quarter. Quadrature Capital Ltd acquired a new position in Burke & Herbert Financial Services in the first quarter worth $392,000. Folger Nolan Fleming Douglas Capital Management Inc. bought a new stake in shares of Burke & Herbert Financial Services during the second quarter worth $280,000. Fortitude Family Office LLC grew its holdings in shares of Burke & Herbert Financial Services by 1,666.0% during the second quarter. Fortitude Family Office LLC now owns 936 shares of the company’s stock worth $48,000 after purchasing an additional 883 shares during the last quarter. Finally, Burke & Herbert Bank & Trust Co. increased its stake in shares of Burke & Herbert Financial Services by 50.6% in the second quarter. Burke & Herbert Bank & Trust Co. now owns 308,251 shares of the company’s stock valued at $15,715,000 after buying an additional 103,527 shares in the last quarter.

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.