Insider Buying: Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Director Purchases 1,000 Shares of Stock

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB - Get Free Report) Director Gary L. Hinkle bought 1,000 shares of the company's stock in a transaction on Friday, January 31st. The shares were bought at an average price of $64.48 per share, for a total transaction of $64,480.00. Following the completion of the acquisition, the director now directly owns 244,355 shares in the company, valued at approximately $15,756,010.40. This trade represents a 0.41 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link.

Burke & Herbert Financial Services Price Performance

Shares of NASDAQ BHRB traded up $1.10 during midday trading on Tuesday, reaching $64.34. The company's stock had a trading volume of 20,410 shares, compared to its average volume of 30,269. The company has a market cap of $963.17 million and a P/E ratio of 26.81. Burke & Herbert Financial Services Corp. has a fifty-two week low of $46.00 and a fifty-two week high of $75.32. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.83 and a current ratio of 0.83. The business's 50 day moving average price is $64.47 and its two-hundred day moving average price is $64.09.

Burke & Herbert Financial Services (NASDAQ:BHRB - Get Free Report) last announced its quarterly earnings data on Friday, January 24th. The company reported $1.77 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.77. Burke & Herbert Financial Services had a net margin of 8.88% and a return on equity of 15.15%. On average, analysts forecast that Burke & Herbert Financial Services Corp. will post 8.05 EPS for the current fiscal year.

Burke & Herbert Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be paid a $0.55 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.42%. Burke & Herbert Financial Services's payout ratio is currently 91.67%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on BHRB. Keefe, Bruyette & Woods upgraded shares of Burke & Herbert Financial Services from a "market perform" rating to an "outperform" rating and lowered their price objective for the company from $79.00 to $76.00 in a report on Monday, January 27th. DA Davidson started 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.

Hedge Funds Weigh In On Burke & Herbert Financial Services

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quantbot Technologies LP acquired a new position in shares of Burke & Herbert Financial Services in the third quarter valued at approximately $118,000. Truist Financial Corp acquired a new position in Burke & Herbert Financial Services in the 2nd quarter valued at approximately $202,000. The Manufacturers Life Insurance Company bought a new position in shares of Burke & Herbert Financial Services during the second quarter valued at $259,000. SG Americas Securities LLC lifted its holdings in shares of Burke & Herbert Financial Services by 113.7% during the third quarter. SG Americas Securities LLC now owns 5,067 shares of the company's stock worth $309,000 after purchasing an additional 2,696 shares during the period. Finally, Modera Wealth Management LLC bought a new stake in shares of Burke & Herbert Financial Services in the third quarter worth $383,000.

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.