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

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) shares saw strong trading volume on Wednesday after Keefe, Bruyette & Woods raised their price target on the stock from $72.00 to $79.00. Keefe, Bruyette & Woods currently has a market perform rating on the stock. 27,397 shares changed hands during mid-day trading, a decline of 26% from the previous session’s volume of 37,086 shares.The stock last traded at $69.30 and had previously closed at $69.34.

Separately, DA Davidson started coverage on shares of Burke & Herbert Financial Services in a report on Wednesday, October 16th. They issued a “buy” rating and a $76.00 price target for the company.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Burke & Herbert Financial Services

Hedge funds and other institutional investors have recently made changes to their positions in the company. HHM Wealth Advisors LLC bought a new position in shares of Burke & Herbert Financial Services during the second quarter worth $29,000. LSV Asset Management bought a new position in shares of Burke & Herbert Financial Services during the second quarter worth $108,000. Quantbot Technologies LP bought a new position in shares of Burke & Herbert Financial Services during the third quarter worth $118,000. Truist Financial Corp bought a new stake in Burke & Herbert Financial Services in the 2nd quarter valued at $202,000. Finally, TIAA Trust National Association bought a new stake in Burke & Herbert Financial Services in the 2nd quarter valued at $213,000.

Burke & Herbert Financial Services Trading Up 2.1 %

The firm’s 50-day moving average is $64.74 and its 200 day moving average is $59.86. 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 Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 15th were given a $0.55 dividend. This is a boost from Burke & Herbert Financial Services’s previous quarterly dividend of $0.53. This represents a $2.20 annualized dividend and a yield of 3.11%. The ex-dividend date was Friday, November 15th.

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.