Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Shares Acquired by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC raised its stake in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB - Free Report) by 18.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 51,500 shares of the company's stock after purchasing an additional 8,000 shares during the quarter. Verdence Capital Advisors LLC owned 0.34% of Burke & Herbert Financial Services worth $3,141,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. HHM Wealth Advisors LLC purchased a new stake in shares of Burke & Herbert Financial Services in the second quarter valued at approximately $29,000. Fortitude Family Office LLC raised its holdings in Burke & Herbert Financial Services by 1,666.0% during the second quarter. Fortitude Family Office LLC now owns 936 shares of the company's stock worth $48,000 after purchasing an additional 883 shares during the last quarter. Moors & Cabot Inc. raised its holdings in Burke & Herbert Financial Services by 6.9% during the second quarter. Moors & Cabot Inc. now owns 28,872 shares of the company's stock worth $1,472,000 after purchasing an additional 1,851 shares during the last quarter. LSV Asset Management acquired a new position in Burke & Herbert Financial Services during the second quarter worth $108,000. Finally, SG Americas Securities LLC raised its holdings in 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 last quarter.

Insider Activity at Burke & Herbert Financial Services

In other news, Director Gary L. Hinkle purchased 5,000 shares of the stock in a transaction on Friday, August 23rd. The stock was purchased at an average price of $68.09 per share, with a total value of $340,450.00. Following the completion of the transaction, the director now owns 233,155 shares in the company, valued at approximately $15,875,523.95. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 9.65% of the company's stock.

Burke & Herbert Financial Services Stock Performance

Burke & Herbert Financial Services stock traded up $0.65 during trading on Friday, hitting $68.93. The company's stock had a trading volume of 35,622 shares, compared to its average volume of 50,892. The stock's fifty day moving average is $62.99 and its 200 day moving average is $57.64. Burke & Herbert Financial Services Corp. has a 1-year low of $44.21 and a 1-year high of $75.32. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.83 and a current ratio of 0.83.

Burke & Herbert Financial Services Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be paid a $0.55 dividend. This is a positive change from Burke & Herbert Financial Services's previous quarterly dividend of $0.53. This represents a $2.20 annualized dividend and a yield of 3.19%. The ex-dividend date of this dividend is Friday, November 15th.

Analysts Set New Price Targets

BHRB has been the subject of several research reports. Keefe, Bruyette & Woods reduced their price objective on Burke & Herbert Financial Services from $73.00 to $72.00 and set a "market perform" rating for the company in a report on Tuesday, October 29th. DA Davidson assumed coverage on Burke & Herbert Financial Services in a report on Wednesday, October 16th. They issued a "buy" rating and a $76.00 price target for the company.

Burke & Herbert Financial Services Company 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.