Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Shares Purchased by State Street Corp

State Street Corp raised its stake in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) by 9.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 289,576 shares of the company’s stock after acquiring an additional 26,191 shares during the quarter. State Street Corp owned approximately 1.94% of Burke & Herbert Financial Services worth $17,661,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of BHRB. HHM Wealth Advisors LLC purchased a new stake in shares of Burke & Herbert Financial Services during the 2nd quarter worth about $29,000. LSV Asset Management purchased a new position in Burke & Herbert Financial Services during the second quarter worth approximately $108,000. Quantbot Technologies LP acquired a new stake in Burke & Herbert Financial Services in the third quarter valued at approximately $118,000. Truist Financial Corp purchased a new stake in shares of Burke & Herbert Financial Services in the second quarter valued at approximately $202,000. Finally, TIAA Trust National Association acquired a new position in shares of Burke & Herbert Financial Services during the 2nd quarter worth approximately $213,000.

Burke & Herbert Financial Services Price Performance

Shares of Burke & Herbert Financial Services stock opened at $63.88 on Wednesday. The stock has a market capitalization of $956.16 million and a P/E ratio of 8.31. The business has a 50 day simple moving average of $67.12 and a two-hundred day simple moving average of $61.64. Burke & Herbert Financial Services Corp. has a 12 month low of $46.00 and a 12 month high of $75.32. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.83 and a quick ratio of 0.83.

Burke & Herbert Financial Services Increases Dividend

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

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on BHRB. Keefe, Bruyette & Woods lifted their price target on shares of Burke & Herbert Financial Services from $72.00 to $79.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. DA Davidson started coverage on shares of Burke & Herbert Financial Services in a research report on Wednesday, October 16th. They issued a “buy” rating and a $76.00 target price on the stock.

Insider Buying and Selling at Burke & Herbert Financial Services

In other Burke & Herbert Financial Services news, Director Gary L. Hinkle bought 1,548 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were acquired at an average cost of $68.50 per share, with a total value of $106,038.00. Following the purchase, the director now directly owns 238,355 shares of the company’s stock, valued at $16,327,317.50. This trade represents a 0.65 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Julian Forrest Jr. Barnwell bought 3,000 shares of the stock in a transaction dated Friday, December 13th. The shares were bought at an average price of $68.75 per share, for a total transaction of $206,250.00. Following the completion of the acquisition, the director now owns 182,939 shares in the company, valued at approximately $12,577,056.25. The trade was a 1.67 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 8,950 shares of company stock worth $614,711. Corporate insiders own 9.65% of the company’s stock.

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.