Insider Buying: Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Director Purchases $14,875.00 in Stock

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Director Shawn Patrick Mclaughlin acquired 250 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was purchased at an average price of $59.50 per share, with a total value of $14,875.00. Following the acquisition, the director now owns 58,750 shares of the company’s stock, valued at approximately $3,495,625. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Burke & Herbert Financial Services Stock Performance

Burke & Herbert Financial Services stock opened at $59.04 on Thursday. Burke & Herbert Financial Services Corp. has a twelve month low of $42.91 and a twelve month high of $70.00. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 1.13. The company has a market capitalization of $876.63 million and a P/E ratio of 7.24. The stock’s 50 day moving average is $53.57 and its 200 day moving average is $53.96.

Burke & Herbert Financial Services (NASDAQ:BHRB) last released its earnings results on Friday, July 26th. The company reported $2.04 EPS for the quarter. The business had revenue of $69.27 million for the quarter. Burke & Herbert Financial Services had a positive return on equity of 13.11% and a negative net margin of 1.10%.

Burke & Herbert Financial Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th will be issued a $0.53 dividend. The ex-dividend date is Thursday, August 15th. This represents a $2.12 annualized dividend and a yield of 3.59%. Burke & Herbert Financial Services’s dividend payout ratio (DPR) is presently 26.01%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Burke & Herbert Financial Services by 1.4% during the first quarter. Vanguard Group Inc. now owns 341,705 shares of the company’s stock valued at $19,146,000 after purchasing an additional 4,574 shares in the last quarter. Burke & Herbert Bank & Trust Co. raised its position in Burke & Herbert Financial Services by 50.6% in the 2nd quarter. Burke & Herbert Bank & Trust Co. now owns 308,251 shares of the company’s stock worth $15,715,000 after buying an additional 103,527 shares during the last quarter. Bank of New York Mellon Corp lifted its stake 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 valued at $4,140,000 after acquiring an additional 39,769 shares during the period. American Century Companies Inc. purchased a new stake in shares of Burke & Herbert Financial Services during the 2nd quarter valued at about $3,091,000. Finally, Verdence Capital Advisors LLC purchased a new stake in shares of Burke & Herbert Financial Services during the 2nd quarter valued at about $2,218,000.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods lifted their price target on shares of Burke & Herbert Financial Services from $66.00 to $73.00 and gave the company a “market perform” rating in a research report on Monday, July 29th.

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.