Verdence Capital Advisors LLC Has $3.14 Million Position in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB)

Verdence Capital Advisors LLC raised its stake in shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) by 18.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 51,500 shares of the company’s stock after buying an additional 8,000 shares during the period. Verdence Capital Advisors LLC owned about 0.34% of Burke & Herbert Financial Services worth $3,141,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Burke & Herbert Financial Services by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 341,705 shares of the company’s stock worth $19,146,000 after purchasing an additional 4,574 shares during the last quarter. Quadrature Capital Ltd acquired a new position in Burke & Herbert Financial Services during the first quarter worth $392,000. Folger Nolan Fleming Douglas Capital Management Inc. acquired a new position in Burke & Herbert Financial Services during the second quarter worth $280,000. Fortitude Family Office LLC raised 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 buying an additional 883 shares in the last quarter. Finally, Burke & Herbert Bank & Trust Co. lifted its position in shares of Burke & Herbert Financial Services by 50.6% in the second quarter. Burke & Herbert Bank & Trust Co. now owns 308,251 shares of the company’s stock worth $15,715,000 after buying an additional 103,527 shares during the last quarter.

Burke & Herbert Financial Services Price Performance

BHRB opened at $68.93 on Friday. Burke & Herbert Financial Services Corp. has a 1-year low of $44.21 and a 1-year high of $75.32. The business has a 50 day moving average of $62.99 and a 200-day moving average of $57.62. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.83 and a quick ratio of 0.83.

Burke & Herbert Financial Services Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 15th will be issued a dividend of $0.55 per share. This is an increase 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 dividend yield of 3.19%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. DA Davidson initiated coverage on shares of Burke & Herbert Financial Services in a research note on Wednesday, October 16th. They issued a “buy” rating and a $76.00 price objective for the company. Keefe, Bruyette & Woods cut 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 report on Tuesday, October 29th.

Insider Activity

In other news, Director Gary L. Hinkle bought 5,000 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was acquired at an average cost of $68.09 per share, for a total transaction of $340,450.00. Following the completion of the purchase, the director now owns 233,155 shares of the company’s stock, valued at $15,875,523.95. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 9.65% of the stock is owned by company insiders.

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.