HighTower Advisors LLC Sells 400 Shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB)

HighTower Advisors LLC trimmed its position in shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) by 8.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,209 shares of the company’s stock after selling 400 shares during the quarter. HighTower Advisors LLC’s holdings in Burke & Herbert Financial Services were worth $257,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Dimensional Fund Advisors LP purchased a new position in Burke & Herbert Financial Services during the 2nd quarter worth $18,137,000. Fourthstone LLC increased its stake 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 valued at $24,250,000 after buying an additional 90,151 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Burke & Herbert Financial Services by 190.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 108,481 shares of the company’s stock valued at $6,616,000 after acquiring an additional 71,105 shares in the last quarter. American Century Companies Inc. purchased a new stake in Burke & Herbert Financial Services in the second quarter worth about $3,091,000. Finally, Renaissance Technologies LLC bought a new position in Burke & Herbert Financial Services during the 2nd quarter worth about $2,827,000.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on BHRB shares. DA Davidson began coverage on shares of 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. Keefe, Bruyette & Woods boosted their price objective on shares of Burke & Herbert Financial Services from $72.00 to $79.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th.

Burke & Herbert Financial Services Price Performance

BHRB opened at $63.88 on Wednesday. The firm has a market capitalization of $956.16 million and a PE ratio of 8.31. 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 business’s 50-day moving average is $67.12 and its two-hundred day moving average is $61.64. Burke & Herbert Financial Services Corp. has a 1 year low of $46.00 and a 1 year high of $75.32.

Burke & Herbert Financial Services Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 15th were given a $0.55 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.44%. This is an increase from Burke & Herbert Financial Services’s previous quarterly dividend of $0.53. Burke & Herbert Financial Services’s payout ratio is presently 28.61%.

Insider Buying and Selling

In other Burke & Herbert Financial Services news, Director Shawn Patrick Mclaughlin purchased 555 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was bought at an average cost of $69.35 per share, for a total transaction of $38,489.25. Following the completion of the purchase, the director now owns 61,000 shares in the company, valued at $4,230,350. This represents a 0.92 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gary L. Hinkle purchased 1,548 shares of the stock in a transaction on Monday, November 18th. The stock was acquired at an average cost of $68.50 per share, with a total value of $106,038.00. Following the acquisition, the director now owns 238,355 shares of the company’s stock, valued at approximately $16,327,317.50. This represents a 0.65 % increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 8,950 shares of company stock worth $614,711 in the last 90 days. 9.65% of the stock is owned by corporate insiders.

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.