Burke & Herbert Financial Services Corp. (BHRB) to Issue Quarterly Dividend of $0.55 on December 2nd

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) declared a quarterly dividend on Friday, October 25th, Zacks reports. Investors of record on Friday, November 15th will be given a dividend of 0.55 per share on Monday, December 2nd. This represents a $2.20 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date is Friday, November 15th. This is a positive change from Burke & Herbert Financial Services’s previous quarterly dividend of $0.53.

Burke & Herbert Financial Services has increased its dividend payment by an average of 2.0% annually over the last three years. Burke & Herbert Financial Services has a dividend payout ratio of 26.4% indicating that its dividend is sufficiently covered by earnings.

Burke & Herbert Financial Services Price Performance

Shares of BHRB stock opened at $62.16 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.16. The stock has a market cap of $922.95 million and a price-to-earnings ratio of 7.39. The business’s fifty day moving average is $62.88 and its 200 day moving average is $56.74. Burke & Herbert Financial Services has a twelve month low of $42.91 and a twelve month high of $70.00.

Burke & Herbert Financial Services (NASDAQ:BHRB) last posted its quarterly earnings data on Friday, October 25th. The company reported $1.98 EPS for the quarter, topping the consensus estimate of $1.71 by $0.27. Burke & Herbert Financial Services had a negative net margin of 1.10% and a positive return on equity of 9.96%. The business had revenue of $83.80 million for the quarter.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Keefe, Bruyette & Woods raised their price objective on Burke & Herbert Financial Services from $66.00 to $73.00 and gave the company a “market perform” rating in a research report on Monday, July 29th. DA Davidson assumed 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.

Insider Transactions at Burke & Herbert Financial Services

In other news, Director Gary L. Hinkle purchased 5,000 shares of Burke & Herbert Financial Services stock in a transaction that occurred on Friday, August 23rd. The stock was bought at an average price of $68.09 per share, with a total value of $340,450.00. Following the completion of the transaction, the director now directly owns 233,155 shares of the company’s stock, valued at approximately $15,875,523.95. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.