Mittelman Wealth Management Acquires Shares of 10,801 Burke & Herbert Financial Services Corp. (NASDAQ:BHRB)

Mittelman Wealth Management bought a new position in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor bought 10,801 shares of the company’s stock, valued at approximately $659,000. Burke & Herbert Financial Services accounts for about 0.4% of Mittelman Wealth Management’s holdings, making the stock its 17th biggest holding. Mittelman Wealth Management owned approximately 0.07% of Burke & Herbert Financial Services as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Fourthstone LLC grew its holdings in Burke & Herbert Financial Services by 29.3% in the third quarter. Fourthstone LLC now owns 397,598 shares of the company’s stock worth $24,250,000 after purchasing an additional 90,151 shares during the period. Dimensional Fund Advisors LP purchased a new stake in shares of Burke & Herbert Financial Services in the 2nd quarter worth approximately $18,137,000. Vanguard Group Inc. increased its position in Burke & Herbert Financial Services by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 341,705 shares of the company’s stock valued at $19,146,000 after buying an additional 4,574 shares in the last quarter. Geode Capital Management LLC raised its stake in Burke & Herbert Financial Services by 5.2% during the third quarter. Geode Capital Management LLC now owns 306,243 shares of the company’s stock valued at $18,681,000 after buying an additional 15,092 shares during the last quarter. Finally, State Street Corp boosted its holdings in Burke & Herbert Financial Services by 9.9% in the third quarter. State Street Corp now owns 289,576 shares of the company’s stock worth $17,661,000 after acquiring an additional 26,191 shares in the last quarter.

Insider Buying and Selling at Burke & Herbert Financial Services

In other news, Director Gary L. Hinkle acquired 3,652 shares of Burke & Herbert Financial Services stock in a transaction that occurred on Friday, November 15th. The stock was bought at an average price of $68.56 per share, for a total transaction of $250,381.12. Following the completion of the transaction, the director now owns 236,807 shares in the company, valued at $16,235,487.92. The trade was a 1.57 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Shawn Patrick Mclaughlin bought 555 shares of the company’s stock in a transaction on Monday, December 9th. The stock was purchased at an average cost of $69.35 per share, for a total transaction of $38,489.25. Following the completion of the transaction, the director now directly owns 61,000 shares of the company’s stock, valued at approximately $4,230,350. The trade was a 0.92 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 5,950 shares of company stock worth $408,461. Company insiders own 9.65% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on BHRB. DA Davidson started coverage on Burke & Herbert Financial Services in a research report on Wednesday, October 16th. They issued a “buy” rating and a $76.00 price target for the company. Keefe, Bruyette & Woods raised their price objective 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.

Burke & Herbert Financial Services Trading Down 0.2 %

Burke & Herbert Financial Services stock opened at $69.95 on Tuesday. 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 Corp. has a 12 month low of $46.00 and a 12 month high of $75.32. The stock has a fifty day simple moving average of $65.27 and a two-hundred day simple moving average of $60.38.

Burke & Herbert Financial Services Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 15th were given a $0.55 dividend. This is a positive change from Burke & Herbert Financial Services’s previous quarterly dividend of $0.53. The ex-dividend date was Friday, November 15th. This represents a $2.20 dividend on an annualized basis and a yield of 3.15%.

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.