State Street Corp Has $17.66 Million Holdings in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB)

State Street Corp grew its position in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB - Free Report) by 9.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 289,576 shares of the company's stock after acquiring an additional 26,191 shares during the period. State Street Corp owned 1.94% of Burke & Herbert Financial Services worth $17,661,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. HHM Wealth Advisors LLC bought a new position in shares of Burke & Herbert Financial Services in the second quarter worth about $29,000. LSV Asset Management bought a new position in Burke & Herbert Financial Services in the 2nd quarter worth approximately $108,000. Quantbot Technologies LP acquired a new position in Burke & Herbert Financial Services during the 3rd quarter worth $118,000. Truist Financial Corp bought a new position in Burke & Herbert Financial Services in the 2nd quarter valued at $202,000. Finally, TIAA Trust National Association bought a new position in Burke & Herbert Financial Services in the 2nd quarter valued at $213,000.

Burke & Herbert Financial Services Trading Down 0.2 %

Shares of Burke & Herbert Financial Services stock traded down $0.15 on Wednesday, hitting $63.88. 16,645 shares of the company's stock traded hands, compared to its average volume of 37,196. The firm's 50-day moving average price is $67.17 and its two-hundred day moving average price is $61.75. 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 stock has a market capitalization of $956.16 million and a PE ratio of 8.31. Burke & Herbert Financial Services Corp. has a one year low of $46.00 and a one year high of $75.32.

Burke & Herbert Financial Services Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 15th were issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date of this dividend was Friday, November 15th. 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%.

Insider Buying and Selling at Burke & Herbert Financial Services

In other Burke & Herbert Financial Services news, Director Gary L. Hinkle bought 1,548 shares of Burke & Herbert Financial Services stock in a transaction on Monday, November 18th. The shares were purchased at an average cost of $68.50 per share, for a total transaction of $106,038.00. Following the completion of the acquisition, the director now owns 238,355 shares in the company, valued at approximately $16,327,317.50. The trade was a 0.65 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Shawn Patrick Mclaughlin bought 555 shares of the firm's stock in a transaction on Monday, December 9th. The stock was acquired at an average cost of $69.35 per share, with a total value of $38,489.25. Following the completion of the purchase, the director now owns 61,000 shares of the company's stock, valued at approximately $4,230,350. This trade represents a 0.92 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 8,950 shares of company stock valued at $614,711. 9.65% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on BHRB shares. Keefe, Bruyette & Woods upped their price target on Burke & Herbert Financial Services from $72.00 to $79.00 and gave the company a "market perform" rating in a research note on Wednesday, December 4th. DA Davidson began 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 target price on the stock.

Burke & Herbert Financial Services Profile

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.