Geode Capital Management LLC Purchases 15,092 Shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB)

Geode Capital Management LLC lifted its position in shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) by 5.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 306,243 shares of the company’s stock after purchasing an additional 15,092 shares during the quarter. Geode Capital Management LLC owned about 2.05% of Burke & Herbert Financial Services worth $18,681,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BHRB. HHM Wealth Advisors LLC bought a new position in shares of Burke & Herbert Financial Services in the 2nd quarter worth about $29,000. Quadrature Capital Ltd grew its holdings in Burke & Herbert Financial Services by 4.8% in the third quarter. Quadrature Capital Ltd now owns 12,309 shares of the company’s stock worth $750,000 after purchasing an additional 566 shares during the period. Jane Street Group LLC increased its stake in shares of Burke & Herbert Financial Services by 6.9% during the third quarter. Jane Street Group LLC now owns 18,772 shares of the company’s stock valued at $1,145,000 after purchasing an additional 1,218 shares in the last quarter. Moors & Cabot Inc. lifted its holdings in shares of Burke & Herbert Financial Services by 6.9% during the second quarter. Moors & Cabot Inc. now owns 28,872 shares of the company’s stock valued at $1,472,000 after purchasing an additional 1,851 shares during the last quarter. Finally, Quantbot Technologies LP bought a new stake in shares of Burke & Herbert Financial Services in the 3rd quarter worth approximately $118,000.

Burke & Herbert Financial Services Trading Down 2.2 %

Shares of NASDAQ:BHRB opened at $62.44 on Friday. The stock’s 50-day simple moving average is $67.13 and its two-hundred day simple moving average is $61.99. The stock has a market capitalization of $934.60 million and a price-to-earnings ratio of 8.12. Burke & Herbert Financial Services Corp. has a 52-week low of $46.00 and a 52-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.

Burke & Herbert Financial Services Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 15th were given a $0.55 dividend. This is a boost from Burke & Herbert Financial Services’s previous quarterly dividend of $0.53. The ex-dividend date was Friday, November 15th. This represents a $2.20 dividend on an annualized basis and a yield of 3.52%. Burke & Herbert Financial Services’s dividend payout ratio is presently 28.61%.

Insider Activity

In other news, Director Gary L. Hinkle acquired 1,548 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were purchased at an average cost of $68.50 per share, for a total transaction of $106,038.00. Following the transaction, the director now directly owns 238,355 shares of the company’s stock, valued at approximately $16,327,317.50. This trade represents a 0.65 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Julian Forrest Jr. Barnwell acquired 3,000 shares of the stock in a transaction dated Friday, December 13th. The stock was acquired at an average price of $68.75 per share, for a total transaction of $206,250.00. Following the completion of the transaction, the director now directly owns 182,939 shares of the company’s stock, valued at approximately $12,577,056.25. This represents a 1.67 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 8,950 shares of company stock valued at $614,711 in the last ninety days. Corporate insiders own 9.65% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on BHRB. Keefe, Bruyette & Woods raised their price objective on Burke & Herbert Financial Services from $72.00 to $79.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. DA Davidson started 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.

Burke & Herbert Financial Services 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.