Barclays PLC Grows Stock Position in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB)

Barclays PLC boosted its stake in shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB - Free Report) by 204.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 22,225 shares of the company's stock after purchasing an additional 14,915 shares during the period. Barclays PLC owned approximately 0.15% of Burke & Herbert Financial Services worth $1,357,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its position in 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 worth $4,140,000 after acquiring an additional 39,769 shares during the period. Rhumbline Advisers boosted its position in Burke & Herbert Financial Services by 126.9% in the second quarter. Rhumbline Advisers now owns 18,973 shares of the company's stock valued at $967,000 after buying an additional 10,613 shares during the last quarter. TIAA Trust National Association purchased a new stake in Burke & Herbert Financial Services in the second quarter valued at approximately $213,000. Hendershot Investments Inc. acquired a new position in Burke & Herbert Financial Services in the 2nd quarter worth approximately $773,000. Finally, Emerald Mutual Fund Advisers Trust purchased a new position in Burke & Herbert Financial Services during the 2nd quarter worth approximately $667,000.

Insider Activity

In related news, Director Julian Forrest Jr. Barnwell bought 3,000 shares of the company's stock in a transaction on Friday, December 13th. The stock was bought at an average cost of $68.75 per share, for a total transaction of $206,250.00. Following the acquisition, the director now directly owns 182,939 shares in the company, valued at $12,577,056.25. This represents a 1.67 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Gary L. Hinkle bought 3,652 shares of the business's stock in a transaction on Friday, November 15th. The stock was bought at an average cost of $68.56 per share, with a total value of $250,381.12. Following the completion of the purchase, the director now directly 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 disclosure for this purchase can be found here. Insiders acquired 8,950 shares of company stock worth $614,711 over the last three months. Insiders own 9.65% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on BHRB. Keefe, Bruyette & Woods increased their price objective on shares of Burke & Herbert Financial Services from $72.00 to $79.00 and gave the stock a "market perform" rating in a research note on Wednesday, December 4th. DA Davidson started coverage on shares of Burke & Herbert Financial Services in a report on Wednesday, October 16th. They issued a "buy" rating and a $76.00 price target on the stock.

Burke & Herbert Financial Services Price Performance

Shares of BHRB stock traded down $1.43 during mid-day trading on Friday, hitting $62.44. 26,617 shares of the stock were exchanged, compared to its average volume of 37,095. Burke & Herbert Financial Services Corp. has a 52-week low of $46.00 and a 52-week high of $75.32. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.15. The company has a market cap of $934.60 million and a PE ratio of 8.12. The firm has a fifty day moving average of $67.13 and a 200 day moving average of $62.09.

Burke & Herbert Financial Services Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 15th were given a dividend of $0.55 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.20 dividend on an annualized basis and a yield of 3.52%. This is an increase from Burke & Herbert Financial Services's previous quarterly dividend of $0.53. Burke & Herbert Financial Services's dividend payout ratio is currently 28.61%.

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.