Fourthstone LLC Grows Stock Position in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB)

Fourthstone LLC increased its holdings in shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) by 29.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 397,598 shares of the company’s stock after purchasing an additional 90,151 shares during the period. Burke & Herbert Financial Services makes up 5.4% of Fourthstone LLC’s portfolio, making the stock its 5th biggest position. Fourthstone LLC’s holdings in Burke & Herbert Financial Services were worth $24,250,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Dimensional Fund Advisors LP acquired a new stake in Burke & Herbert Financial Services in the 2nd quarter valued at approximately $18,137,000. Burke & Herbert Bank & Trust Co. raised its position in Burke & Herbert Financial Services by 50.6% in the 2nd quarter. Burke & Herbert Bank & Trust Co. now owns 308,251 shares of the company’s stock valued at $15,715,000 after buying an additional 103,527 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Burke & Herbert Financial Services by 190.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 108,481 shares of the company’s stock valued at $6,616,000 after buying an additional 71,105 shares during the last quarter. American Century Companies Inc. acquired a new stake in Burke & Herbert Financial Services in the 2nd quarter valued at approximately $3,091,000. Finally, Renaissance Technologies LLC acquired a new stake in Burke & Herbert Financial Services in the 2nd quarter valued at approximately $2,827,000.

Insider Transactions at Burke & Herbert Financial Services

In other Burke & Herbert Financial Services news, Director Gary L. Hinkle purchased 1,548 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were acquired at an average price of $68.50 per share, for a total transaction of $106,038.00. Following the purchase, the director now owns 238,355 shares in the company, valued at approximately $16,327,317.50. The trade was a 0.65 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 9.65% of the company’s stock.

Burke & Herbert Financial Services Stock Down 0.4 %

Shares of Burke & Herbert Financial Services stock traded down $0.28 on Thursday, reaching $68.92. 26,782 shares of the company were exchanged, compared to its average volume of 37,222. 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 market capitalization of $1.03 billion and a price-to-earnings ratio of 9.95. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.15. The company has a 50-day moving average of $64.18 and a 200 day moving average of $59.19.

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 paid a dividend of $0.55 per share. The ex-dividend date is Friday, November 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.19%. This is a boost from Burke & Herbert Financial Services’s previous quarterly dividend of $0.53. Burke & Herbert Financial Services’s dividend payout ratio is currently 31.75%.

Analyst Upgrades and Downgrades

BHRB has been the topic of a number of recent research reports. Keefe, Bruyette & Woods dropped their target price on Burke & Herbert Financial Services from $73.00 to $72.00 and set a “market perform” rating on the stock in a research report on Tuesday, October 29th. DA Davidson initiated coverage on 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.

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.