Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Director Julian Forrest Jr. Barnwell Acquires 3,000 Shares

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Director Julian Forrest Jr. Barnwell acquired 3,000 shares of Burke & Herbert Financial Services stock in a transaction on Friday, December 13th. The shares were bought at an average cost of $68.75 per share, with a total value of $206,250.00. Following the completion of the purchase, the director now 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 purchase was disclosed in a document filed with the SEC, which can be accessed through this link.

Burke & Herbert Financial Services Trading Down 0.5 %

Shares of Burke & Herbert Financial Services stock traded down $0.37 during mid-day trading on Friday, hitting $69.16. 38,162 shares of the stock were exchanged, compared to its average volume of 37,126. The stock has a market capitalization of $1.04 billion and a price-to-earnings ratio of 9.04. Burke & Herbert Financial Services Corp. has a twelve month low of $46.00 and a twelve month high of $75.32. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.15. The company has a 50-day simple moving average of $65.98 and a 200 day simple moving average of $60.66.

Burke & Herbert Financial Services Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 15th were paid a $0.55 dividend. This is a boost from Burke & Herbert Financial Services’s previous quarterly dividend of $0.53. This represents a $2.20 annualized dividend and a yield of 3.18%. The ex-dividend date was Friday, November 15th. Burke & Herbert Financial Services’s payout ratio is presently 28.61%.

Analyst Ratings Changes

A number of equities research analysts have commented on BHRB shares. Keefe, Bruyette & Woods raised their target price on Burke & Herbert Financial Services from $72.00 to $79.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. DA Davidson started coverage on Burke & Herbert Financial Services in a research note on Wednesday, October 16th. They set a “buy” rating and a $76.00 price target for the company.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Fifth Third Bancorp purchased a new stake in shares of Burke & Herbert Financial Services in the second quarter valued at $1,167,000. Verdence Capital Advisors LLC purchased a new stake in Burke & Herbert Financial Services in the 2nd quarter valued at about $2,218,000. Bank of New York Mellon Corp increased its stake in shares of Burke & Herbert Financial Services by 96.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 81,204 shares of the company’s stock valued at $4,140,000 after acquiring an additional 39,769 shares during the last quarter. Burney Co. purchased a new position in shares of Burke & Herbert Financial Services during the 2nd quarter worth about $246,000. Finally, Rhumbline Advisers increased its position in Burke & Herbert Financial Services by 126.9% during the second quarter. Rhumbline Advisers now owns 18,973 shares of the company’s stock worth $967,000 after purchasing an additional 10,613 shares during 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.