Insider Buying: Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Director Purchases 1,548 Shares of Stock

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Director Gary L. Hinkle purchased 1,548 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were purchased at an average price of $68.50 per share, with a total value of $106,038.00. Following the acquisition, the director now directly owns 238,355 shares in the company, valued at approximately $16,327,317.50. The trade was a 0.65 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Burke & Herbert Financial Services Stock Up 1.3 %

NASDAQ BHRB opened at $68.69 on Friday. Burke & Herbert Financial Services Corp. has a 12 month low of $46.00 and a 12 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’s fifty day moving average price is $63.74 and its two-hundred day moving average price is $58.50.

Burke & Herbert Financial Services Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 15th will be given a $0.55 dividend. This is an increase from Burke & Herbert Financial Services’s previous quarterly dividend of $0.53. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date is Friday, November 15th.

Institutional Trading of Burke & Herbert Financial Services

Large investors have recently modified their holdings of the company. Burke & Herbert Bank & Trust Co. boosted its position in shares of Burke & Herbert Financial Services by 50.6% during the 2nd quarter. Burke & Herbert Bank & Trust Co. now owns 308,251 shares of the company’s stock valued at $15,715,000 after purchasing an additional 103,527 shares in the last quarter. American Century Companies Inc. acquired a new position in shares of Burke & Herbert Financial Services in the second quarter worth about $3,091,000. Rhumbline Advisers boosted its holdings in shares of Burke & Herbert Financial Services by 126.9% in the second quarter. Rhumbline Advisers now owns 18,973 shares of the company’s stock worth $967,000 after buying an additional 10,613 shares during the period. Fifth Third Bancorp acquired a new position in shares of Burke & Herbert Financial Services in the second quarter worth about $1,167,000. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Burke & Herbert Financial Services by 96.0% during the second quarter. Bank of New York Mellon Corp now owns 81,204 shares of the company’s stock worth $4,140,000 after purchasing an additional 39,769 shares during the period.

Analyst Upgrades and Downgrades

BHRB has been the subject of several recent analyst reports. Keefe, Bruyette & Woods decreased their price objective on shares of Burke & Herbert Financial Services from $73.00 to $72.00 and set a “market perform” rating for the company in a research report on Tuesday, October 29th. 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 objective for the company.

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.