355,782 Shares in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Purchased by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP acquired a new position in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) in the 2nd quarter, HoldingsChannel.com reports. The firm acquired 355,782 shares of the company’s stock, valued at approximately $18,137,000.

Other hedge funds have also recently bought and sold shares of the company. HHM Wealth Advisors LLC purchased a new stake in Burke & Herbert Financial Services in the 2nd quarter worth about $29,000. Fortitude Family Office LLC lifted its stake in Burke & Herbert Financial Services by 1,666.0% in the 2nd quarter. Fortitude Family Office LLC now owns 936 shares of the company’s stock worth $48,000 after acquiring an additional 883 shares in the last quarter. LSV Asset Management purchased a new stake in Burke & Herbert Financial Services in the 2nd quarter worth about $108,000. TIAA Trust National Association purchased a new stake in shares of Burke & Herbert Financial Services during the 2nd quarter worth about $213,000. Finally, Burney Co. purchased a new stake in shares of Burke & Herbert Financial Services during the 2nd quarter worth about $246,000.

Burke & Herbert Financial Services Stock Up 1.0 %

BHRB opened at $58.57 on Friday. Burke & Herbert Financial Services Corp. has a fifty-two week low of $42.91 and a fifty-two week high of $70.00. The business has a 50-day moving average of $63.28 and a 200-day moving average of $56.01. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.83 and a quick ratio of 0.83. The company has a market capitalization of $869.65 million and a PE ratio of 7.19.

Burke & Herbert Financial Services (NASDAQ:BHRB) last posted its quarterly earnings results on Friday, July 26th. The company reported $2.04 earnings per share for the quarter. The company had revenue of $69.27 million during 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th were issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date of this dividend was Thursday, August 15th. Burke & Herbert Financial Services’s dividend payout ratio is 26.01%.

Wall Street Analyst Weigh In

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

Insider Activity

In related news, Director Gary L. Hinkle acquired 5,000 shares of the stock in a transaction dated Friday, August 23rd. The shares were acquired at an average price of $68.09 per share, with a total value of $340,450.00. Following the acquisition, the director now owns 233,155 shares in the company, valued at approximately $15,875,523.95. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 9.65% of the stock is currently owned by insiders.

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.