Burke & Herbert Financial Services Corp. (NASDAQ:BHRB – Get Free Report) announced a quarterly dividend on Monday, January 27th,Wall Street Journal reports. Shareholders 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 annualized dividend and a yield of 3.44%. The ex-dividend date of this dividend is Friday, February 14th.
Burke & Herbert Financial Services has increased its dividend payment by an average of 2.3% annually over the last three years. Burke & Herbert Financial Services has a payout ratio of 29.9% meaning its dividend is sufficiently covered by earnings. 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
Burke & Herbert Financial Services stock traded up $1.55 during trading hours on Monday, reaching $63.95. The company had a trading volume of 21,586 shares, compared to its average volume of 29,256. 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 current ratio of 0.83 and a quick ratio of 0.83. The company has a 50-day moving average price of $65.05 and a 200 day moving average price of $63.77.
Insider Transactions at Burke & Herbert Financial Services
In other news, Director Gary L. Hinkle bought 3,652 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were bought at an average price of $68.56 per share, for a total transaction of $250,381.12. Following the purchase, the director now owns 236,807 shares in the company, valued at approximately $16,235,487.92. The trade was a 1.57 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Julian Forrest Jr. Barnwell acquired 3,000 shares of Burke & Herbert Financial Services stock in a transaction dated Friday, December 13th. The shares were bought at an average price of $68.75 per share, for a total transaction of $206,250.00. Following the transaction, the director now owns 182,939 shares of the company’s stock, valued at approximately $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. Insiders have acquired 8,950 shares of company stock valued at $614,711 in the last three months. 9.65% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
BHRB has been the topic of several recent analyst reports. Keefe, Bruyette & Woods upgraded shares of Burke & Herbert Financial Services from a “market perform” rating to an “outperform” rating and cut their price target for the company from $79.00 to $76.00 in a report on Monday. DA Davidson initiated 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.
Read Our Latest Research Report on BHRB
Burke & Herbert Financial Services Company Profile
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.
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