Burke & Herbert Financial Services (NASDAQ:BHRB) Sees Unusually-High Trading Volume

Shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) saw unusually-strong trading volume on Wednesday . Approximately 76,154 shares traded hands during trading, an increase of 140% from the previous session’s volume of 31,753 shares.The stock last traded at $65.80 and had previously closed at $65.21.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods upped their target price on shares of Burke & Herbert Financial Services from $66.00 to $73.00 and gave the stock a “market perform” rating in a report on Monday, July 29th.

Burke & Herbert Financial Services Stock Up 0.3 %

The stock has a fifty day moving average price of $62.52 and a two-hundred day moving average price of $55.35. The company has a market cap of $971.06 million and a P/E ratio of 8.02. 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 (NASDAQ:BHRB) last issued its quarterly earnings data on Friday, July 26th. The company reported $2.04 earnings per share for the quarter. The business had revenue of $69.27 million for the quarter. Burke & Herbert Financial Services had a positive return on equity of 9.96% and a negative net margin of 1.10%.

Burke & Herbert Financial Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date was Thursday, August 15th. Burke & Herbert Financial Services’s payout ratio is 26.01%.

Insider Buying and Selling at Burke & Herbert Financial Services

In other Burke & Herbert Financial Services news, Director Gary L. Hinkle bought 5,000 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were purchased at an average price of $68.09 per share, for a total transaction of $340,450.00. Following the purchase, the director now directly owns 233,155 shares of the company’s stock, valued at $15,875,523.95. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 9.65% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. HHM Wealth Advisors LLC bought a new stake in shares of Burke & Herbert Financial Services during the 2nd quarter worth $29,000. Fortitude Family Office LLC increased 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 worth $48,000 after buying an additional 883 shares during the last quarter. LSV Asset Management bought a new stake in Burke & Herbert Financial Services in the second quarter worth about $108,000. Truist Financial Corp purchased a new position in Burke & Herbert Financial Services in the second quarter valued at about $202,000. Finally, TIAA Trust National Association bought a new position in shares of Burke & Herbert Financial Services during the 2nd quarter valued at approximately $213,000.

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.