Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Stock Holdings Lessened by Moors & Cabot Inc.

Moors & Cabot Inc. trimmed its position in shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) by 5.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 27,313 shares of the company’s stock after selling 1,559 shares during the period. Moors & Cabot Inc. owned 0.18% of Burke & Herbert Financial Services worth $1,666,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BHRB. HHM Wealth Advisors LLC purchased a new position in Burke & Herbert Financial Services during the 2nd quarter worth approximately $29,000. Fortitude Family Office LLC grew its holdings 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 acquiring an additional 883 shares in the last quarter. LSV Asset Management purchased a new position in shares of Burke & Herbert Financial Services during the 2nd quarter valued at $108,000. Truist Financial Corp purchased a new position in shares of Burke & Herbert Financial Services during the 2nd quarter valued at $202,000. Finally, TIAA Trust National Association purchased a new position in shares of Burke & Herbert Financial Services during the 2nd quarter valued at $213,000.

Burke & Herbert Financial Services Stock Down 0.1 %

NASDAQ BHRB opened at $67.78 on Thursday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.83 and a current ratio of 0.83. The firm has a 50-day simple moving average of $63.66 and a 200 day simple moving average of $58.44. Burke & Herbert Financial Services Corp. has a twelve month low of $46.00 and a twelve month high of $75.32. The stock has a market cap of $1.01 billion and a PE ratio of 9.79.

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. This is a boost from Burke & Herbert Financial Services’s previous quarterly dividend of $0.53. The ex-dividend date is Friday, November 15th. This represents a $2.20 dividend on an annualized basis and a yield of 3.25%. Burke & Herbert Financial Services’s dividend payout ratio (DPR) is currently 31.75%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on BHRB shares. DA Davidson started coverage on shares of Burke & Herbert Financial Services in a report on Wednesday, October 16th. They set a “buy” rating and a $76.00 price target on the stock. Keefe, Bruyette & Woods lowered their price target on shares of Burke & Herbert Financial Services from $73.00 to $72.00 and set a “market perform” rating on the stock in a report on Tuesday, October 29th.

Insiders Place Their Bets

In other news, Director Gary L. Hinkle acquired 5,000 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was bought at an average price of $68.09 per share, with a total value of $340,450.00. Following the completion of the acquisition, the director now owns 233,155 shares in the company, valued at approximately $15,875,523.95. This represents a 2.19 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders acquired a total of 10,200 shares of company stock worth $696,869 over the last quarter. Company insiders own 9.65% of the company’s stock.

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.