Burke & Herbert Financial Services Corp. Declares Quarterly Dividend of $0.55 (NASDAQ:BHRB)

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) declared a quarterly dividend on Thursday, January 23rd,Wall Street Journal reports. Shareholders of record on Friday, February 14th will be paid a dividend of 0.55 per share on Monday, March 3rd. This represents a $2.20 annualized dividend and a yield of 3.37%. The ex-dividend date is Friday, February 14th.

Burke & Herbert Financial Services has increased its dividend payment by an average of 2.3% annually over the last three years. Burke & Herbert Financial Services has a dividend payout ratio of 28.0% meaning its dividend is sufficiently covered by earnings.

Burke & Herbert Financial Services Stock Up 1.7 %

NASDAQ:BHRB opened at $65.33 on Wednesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.83 and a quick ratio of 0.83. The firm’s 50-day moving average price is $64.01 and its 200-day moving average price is $64.17. The company has a market capitalization of $977.99 million and a PE ratio of 27.22. Burke & Herbert Financial Services has a 1-year low of $46.00 and a 1-year high of $75.32.

Burke & Herbert Financial Services (NASDAQ:BHRB) last announced its quarterly earnings data on Friday, January 24th. The company reported $1.77 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.77. Burke & Herbert Financial Services had a net margin of 8.88% and a return on equity of 15.15%. On average, equities analysts predict that Burke & Herbert Financial Services will post 8.05 EPS for the current fiscal year.

Insiders Place Their Bets

In other Burke & Herbert Financial Services news, Director Shawn Patrick Mclaughlin acquired 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 29th. The shares were bought at an average cost of $63.00 per share, with a total value of $63,000.00. Following the completion of the transaction, the director now directly owns 62,000 shares of the company’s stock, valued at approximately $3,906,000. This represents a 1.64 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 acquired at an average price of $68.56 per share, with a total value of $250,381.12. Following the completion of the acquisition, the director now directly owns 236,807 shares in the company, valued at $16,235,487.92. This represents a 1.57 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 13,950 shares of company stock valued at $937,101. Insiders own 9.65% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on BHRB shares. Keefe, Bruyette & Woods upgraded Burke & Herbert Financial Services from a “market perform” rating to an “outperform” rating and cut their price target for the stock from $79.00 to $76.00 in a research note on Monday, January 27th. DA Davidson started coverage on Burke & Herbert Financial Services in a research note 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. is a bank holding company, which engages in the provision of banking products and financial services to small to medium-sized businesses, their owners and employees, professional corporations, non-profits, and individuals. It operates through the following loan portfolio segments: Commercial Real Estate, Owner-Occupied Commercial Real Estate, Acquisition, Construction, and Development, Commercial and Industrial, Single Family Residential (1-4 Units), and Consumer Non-Real Estate and Other.