Keefe, Bruyette & Woods Cuts Burke & Herbert Financial Services (NASDAQ:BHRB) Price Target to $72.00

Burke & Herbert Financial Services (NASDAQ:BHRB) had its target price decreased by Keefe, Bruyette & Woods from $73.00 to $72.00 in a research report sent to investors on Tuesday, Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the stock.

Separately, DA Davidson began coverage on Burke & Herbert Financial Services in a report on Wednesday, October 16th. They set a “buy” rating and a $76.00 target price on the stock.

Burke & Herbert Financial Services Price Performance

NASDAQ:BHRB opened at $63.34 on Tuesday. The firm’s fifty day moving average is $62.99 and its two-hundred day moving average is $57.05. The firm has a market cap of $946.62 million and a price-to-earnings ratio of 7.53. Burke & Herbert Financial Services has a one year low of $44.21 and a one year high of $70.00. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.83 and a current ratio of 0.83.

Burke & Herbert Financial Services Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 3.47%. The ex-dividend date is 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 (DPR) is currently 26.16%.

Insiders Place Their Bets

In other Burke & Herbert Financial Services news, Director Gary L. Hinkle purchased 5,000 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was 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 in the company, valued at approximately $15,875,523.95. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 9.65% of the company’s stock.

Institutional Trading of Burke & Herbert Financial Services

Institutional investors have recently bought and sold shares of the business. Modera Wealth Management LLC purchased a new position in shares of Burke & Herbert Financial Services during the 3rd quarter valued at approximately $383,000. SG Americas Securities LLC raised its position in Burke & Herbert Financial Services by 113.7% during the third quarter. SG Americas Securities LLC now owns 5,067 shares of the company’s stock worth $309,000 after acquiring an additional 2,696 shares during the period. Truist Financial Corp purchased a new position in Burke & Herbert Financial Services during the second quarter valued at $202,000. The Manufacturers Life Insurance Company purchased a new position in Burke & Herbert Financial Services during the second quarter valued at $259,000. Finally, Marshall Wace LLP acquired a new stake in shares of Burke & Herbert Financial Services in the second quarter valued at about $427,000.

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.