Modera Wealth Management LLC Purchases New Holdings in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB)

Modera Wealth Management LLC purchased a new stake in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 6,280 shares of the company’s stock, valued at approximately $383,000.

Several other institutional investors have also made changes to their positions in BHRB. 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 valued at $309,000 after purchasing an additional 2,696 shares in the last quarter. Truist Financial Corp acquired a new position in Burke & Herbert Financial Services during the second quarter valued at approximately $202,000. The Manufacturers Life Insurance Company acquired a new position in Burke & Herbert Financial Services during the second quarter valued at approximately $259,000. Marshall Wace LLP acquired a new position in Burke & Herbert Financial Services during the second quarter valued at approximately $427,000. Finally, Moors & Cabot Inc. raised its position in Burke & Herbert Financial Services by 6.9% during the second quarter. Moors & Cabot Inc. now owns 28,872 shares of the company’s stock valued at $1,472,000 after purchasing an additional 1,851 shares in the last quarter.

Burke & Herbert Financial Services Stock Performance

Shares of Burke & Herbert Financial Services stock opened at $64.04 on Wednesday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.16. Burke & Herbert Financial Services Corp. has a twelve month low of $43.80 and a twelve month high of $70.00. The stock has a market cap of $957.08 million and a price-to-earnings ratio of 7.61. The company’s fifty day moving average is $62.94 and its 200 day moving average is $56.95.

Burke & Herbert Financial Services Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be given a dividend of $0.55 per share. The ex-dividend date is Friday, November 15th. This represents a $2.20 dividend on an annualized basis and a yield of 3.44%. This is a boost from Burke & Herbert Financial Services’s previous quarterly dividend of $0.53. Burke & Herbert Financial Services’s dividend payout ratio is 26.16%.

Analyst Ratings Changes

BHRB has been the subject of several research analyst reports. DA Davidson started coverage on shares of Burke & Herbert Financial Services in a research report on Wednesday, October 16th. They set a “buy” rating and a $76.00 price objective for the company. Keefe, Bruyette & Woods lowered their price target on shares of Burke & Herbert Financial Services from $73.00 to $72.00 and set a “market perform” rating for the company in a report on Tuesday.

Insider Buying and Selling at Burke & Herbert Financial Services

In other news, Director Gary L. Hinkle purchased 5,000 shares of the business’s stock in a transaction on 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 completion of the transaction, the director now owns 233,155 shares of the company’s stock, valued at $15,875,523.95. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 9.65% of the company’s stock.

Burke & Herbert Financial Services 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.