Gary L. Hinkle Buys 3,000 Shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Stock

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Director Gary L. Hinkle bought 3,000 shares of the firm’s stock in a transaction on Monday, February 10th. The shares were bought at an average cost of $64.97 per share, with a total value of $194,910.00. Following the transaction, the director now directly owns 248,459 shares of the company’s stock, valued at approximately $16,142,381.23. This trade represents a 1.22 % 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.

Burke & Herbert Financial Services Stock Performance

Shares of NASDAQ BHRB opened at $65.33 on Wednesday. The business has a fifty day simple moving average of $64.01 and a 200 day simple moving average of $64.17. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $977.99 million and a price-to-earnings ratio of 27.22. 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 (NASDAQ:BHRB) last issued its earnings results on Friday, January 24th. The company reported $1.77 EPS for the quarter, meeting analysts’ consensus estimates of $1.77. Burke & Herbert Financial Services had a return on equity of 15.15% and a net margin of 8.88%. Sell-side analysts expect that Burke & Herbert Financial Services Corp. will post 8.05 EPS for the current year.

Burke & Herbert Financial Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Friday, February 14th will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.20 annualized dividend and a yield of 3.37%. Burke & Herbert Financial Services’s dividend payout ratio is currently 91.67%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. DA Davidson assumed coverage on Burke & Herbert Financial Services in a report on Wednesday, October 16th. They set a “buy” rating and a $76.00 price target for the company. Keefe, Bruyette & Woods upgraded Burke & Herbert Financial Services from a “market perform” rating to an “outperform” rating and cut their price target for the stock from $79.00 to $76.00 in a report on Monday, January 27th.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Burke & Herbert Financial Services by 3.2% during the fourth quarter. Vanguard Group Inc. now owns 732,163 shares of the company’s stock worth $45,658,000 after acquiring an additional 22,559 shares in the last quarter. Fourthstone LLC grew its holdings in shares of Burke & Herbert Financial Services by 29.3% during the third quarter. Fourthstone LLC now owns 397,598 shares of the company’s stock worth $24,250,000 after purchasing an additional 90,151 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Burke & Herbert Financial Services by 5.2% during the third quarter. Geode Capital Management LLC now owns 306,243 shares of the company’s stock worth $18,681,000 after purchasing an additional 15,092 shares during the last quarter. State Street Corp grew its holdings in shares of Burke & Herbert Financial Services by 9.9% during the third quarter. State Street Corp now owns 289,576 shares of the company’s stock worth $17,661,000 after purchasing an additional 26,191 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Burke & Herbert Financial Services by 1.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 110,559 shares of the company’s stock worth $6,894,000 after purchasing an additional 2,078 shares during the last quarter.

About Burke & Herbert Financial Services

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.