Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Shares Bought by Fourthstone LLC

Fourthstone LLC boosted its holdings in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) by 29.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 397,598 shares of the company’s stock after acquiring an additional 90,151 shares during the quarter. Burke & Herbert Financial Services accounts for 5.4% of Fourthstone LLC’s portfolio, making the stock its 5th largest position. Fourthstone LLC owned about 2.66% of Burke & Herbert Financial Services worth $24,250,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. HHM Wealth Advisors LLC acquired a new position in shares of Burke & Herbert Financial Services in the second quarter worth about $29,000. Fortitude Family Office LLC grew its holdings in Burke & Herbert Financial Services by 1,666.0% during the second quarter. Fortitude Family Office LLC now owns 936 shares of the company’s stock valued at $48,000 after purchasing an additional 883 shares during the last quarter. Quantbot Technologies LP acquired a new position in Burke & Herbert Financial Services during the 3rd quarter worth $118,000. LSV Asset Management acquired a new position in shares of Burke & Herbert Financial Services during the 2nd quarter worth about $108,000. Finally, Truist Financial Corp acquired a new position in shares of Burke & Herbert Financial Services during the second quarter worth approximately $202,000.

Burke & Herbert Financial Services Trading Down 0.4 %

Shares of BHRB stock traded down $0.28 on Thursday, reaching $68.92. 26,782 shares of the stock were exchanged, compared to its average volume of 37,222. The stock has a 50 day moving average price of $64.18 and a 200 day moving average price of $59.19. The stock has a market cap of $1.03 billion and a PE ratio of 9.95. Burke & Herbert Financial Services Corp. has a one year low of $46.00 and a one year 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 declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be issued a $0.55 dividend. This is a boost from Burke & Herbert Financial Services’s previous quarterly dividend of $0.53. The ex-dividend date is Friday, November 15th. This represents a $2.20 annualized dividend and a yield of 3.19%. Burke & Herbert Financial Services’s dividend payout ratio (DPR) is currently 31.75%.

Insider Activity at Burke & Herbert Financial Services

In related news, Director Gary L. Hinkle bought 1,548 shares of Burke & Herbert Financial Services stock in a transaction on Monday, November 18th. The shares were purchased at an average price of $68.50 per share, for a total transaction of $106,038.00. Following the completion of the acquisition, the director now owns 238,355 shares in the company, valued at approximately $16,327,317.50. This represents a 0.65 % 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. 9.65% of the stock is owned by company insiders.

Analyst Ratings Changes

BHRB has been the subject of several research reports. Keefe, Bruyette & Woods reduced their target price on shares of Burke & Herbert Financial Services from $73.00 to $72.00 and set a “market perform” rating for the company in a research note on Tuesday, October 29th. 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.

About Burke & Herbert Financial Services

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.