Geode Capital Management LLC Increases Holdings in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB)

Geode Capital Management LLC lifted its holdings in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) by 5.2% in the third quarter, Holdings Channel reports. The fund owned 306,243 shares of the company’s stock after purchasing an additional 15,092 shares during the quarter. Geode Capital Management LLC’s holdings in Burke & Herbert Financial Services were worth $18,681,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BHRB. HHM Wealth Advisors LLC purchased a new position in shares of Burke & Herbert Financial Services in the 2nd quarter worth approximately $29,000. LSV Asset Management bought a new stake in Burke & Herbert Financial Services in the second quarter worth $108,000. Quantbot Technologies LP purchased a new position in Burke & Herbert Financial Services during the third quarter worth $118,000. Truist Financial Corp bought a new position in Burke & Herbert Financial Services during the second quarter valued at $202,000. Finally, TIAA Trust National Association purchased a new stake in shares of Burke & Herbert Financial Services in the second quarter valued at $213,000.

Analyst Ratings Changes

A number of research firms recently weighed in on BHRB. DA Davidson started coverage on shares of Burke & Herbert Financial Services in a research report on Wednesday, October 16th. They issued a “buy” rating and a $76.00 price objective on the stock. Keefe, Bruyette & Woods increased their price target on Burke & Herbert Financial Services from $72.00 to $79.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th.

Burke & Herbert Financial Services Trading Down 2.2 %

NASDAQ BHRB opened at $62.44 on Friday. Burke & Herbert Financial Services Corp. has a 52 week low of $46.00 and a 52 week high of $75.32. The company has a 50 day moving average price of $67.13 and a 200 day moving average price of $61.99. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.15. The firm has a market cap of $934.60 million and a PE ratio of 8.12.

Burke & Herbert Financial Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 15th were issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 3.52%. The ex-dividend date of this dividend was Friday, November 15th. This is a positive change from Burke & Herbert Financial Services’s previous quarterly dividend of $0.53. Burke & Herbert Financial Services’s dividend payout ratio is currently 28.61%.

Insider Transactions at Burke & Herbert Financial Services

In related news, Director Julian Forrest Jr. Barnwell purchased 3,000 shares of the business’s stock in a transaction on Friday, December 13th. The shares were bought at an average cost of $68.75 per share, with a total value of $206,250.00. Following the transaction, the director now owns 182,939 shares of the company’s stock, valued at approximately $12,577,056.25. This trade represents a 1.67 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gary L. Hinkle purchased 3,652 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was bought at an average cost 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 of the company’s stock, valued at $16,235,487.92. This trade represents a 1.57 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired 8,950 shares of company stock valued at $614,711 in the last quarter. 9.65% of the stock is currently owned by corporate insiders.

Burke & Herbert Financial Services Company 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.