Burke & Herbert Financial Services (NASDAQ:BHRB) Sees Unusually-High Trading Volume

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) shares saw unusually-high trading volume on Wednesday . Approximately 76,154 shares changed hands during mid-day trading, an increase of 140% from the previous session’s volume of 31,753 shares.The stock last traded at $65.80 and had previously closed at $65.21.

Analyst Upgrades and Downgrades

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

Burke & Herbert Financial Services Price Performance

The business has a 50-day moving average of $62.52 and a two-hundred day moving average of $55.35. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.16. The firm has a market cap of $971.06 million and a P/E ratio of 8.02.

Burke & Herbert Financial Services (NASDAQ:BHRB) last released its quarterly earnings results on Friday, July 26th. The company reported $2.04 earnings per share for the quarter. The company had revenue of $69.27 million for the quarter. Burke & Herbert Financial Services had a positive return on equity of 9.96% and a negative net margin of 1.10%.

Burke & Herbert Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th were issued a $0.53 dividend. The ex-dividend date was Thursday, August 15th. This represents a $2.12 dividend on an annualized basis and a yield of 3.24%. Burke & Herbert Financial Services’s payout ratio is 26.01%.

Insiders Place Their Bets

In related news, Director Gary L. Hinkle acquired 5,000 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were bought at an average cost of $68.09 per share, with a total value of $340,450.00. Following the completion of the purchase, the director now directly owns 233,155 shares in the company, valued at $15,875,523.95. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 9.65% of the company’s stock.

Institutional Investors Weigh In On Burke & Herbert Financial Services

A number of hedge funds have recently added to or reduced their stakes in BHRB. HHM Wealth Advisors LLC bought a new stake in Burke & Herbert Financial Services in the second quarter valued at $29,000. Fortitude Family Office LLC raised its stake in Burke & Herbert Financial Services by 1,666.0% during the 2nd quarter. Fortitude Family Office LLC now owns 936 shares of the company’s stock worth $48,000 after buying an additional 883 shares during the period. LSV Asset Management bought a new position in Burke & Herbert Financial Services in the second quarter worth approximately $108,000. Truist Financial Corp acquired a new stake in Burke & Herbert Financial Services in the second quarter valued at approximately $202,000. Finally, TIAA Trust National Association bought a new stake in shares of Burke & Herbert Financial Services during the second quarter valued at approximately $213,000.

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.