Burke & Herbert Financial Services Corp. to Issue Quarterly Dividend of $0.55 (NASDAQ:BHRB)

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) announced a quarterly dividend on Thursday, January 23rd,Wall Street Journal reports. Investors of record on Friday, February 14th will be given a dividend of 0.55 per share on Monday, March 3rd. This represents a $2.20 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date is Friday, February 14th.

Burke & Herbert Financial Services has increased its dividend payment by an average of 2.3% per year over the last three years. Burke & Herbert Financial Services has a payout ratio of 28.0% meaning its dividend is sufficiently covered by earnings.

Burke & Herbert Financial Services Stock Up 1.7 %

Shares of BHRB opened at $65.33 on Wednesday. Burke & Herbert Financial Services has a fifty-two week low of $46.00 and a fifty-two week high of $75.32. The company’s fifty day moving average is $64.01 and its two-hundred day moving average is $64.17. The firm has a market cap of $977.99 million and a PE ratio of 27.22. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.15.

Burke & Herbert Financial Services (NASDAQ:BHRB) last issued its earnings results on Friday, January 24th. The company reported $1.77 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.77. Burke & Herbert Financial Services had a return on equity of 15.15% and a net margin of 8.88%. Analysts forecast that Burke & Herbert Financial Services will post 8.05 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Shawn Patrick Mclaughlin bought 555 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was bought at an average cost of $69.35 per share, for a total transaction of $38,489.25. Following the completion of the purchase, the director now directly owns 61,000 shares in the company, valued at approximately $4,230,350. The trade was a 0.92 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gary L. Hinkle bought 1,548 shares of the company’s stock in a transaction on Monday, November 18th. The stock was bought at an average cost of $68.50 per share, for a total transaction of $106,038.00. Following the completion of the transaction, the director now directly owns 238,355 shares of the company’s stock, valued at $16,327,317.50. This trade represents a 0.65 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 13,950 shares of company stock worth $937,101. Insiders own 9.65% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. DA Davidson assumed coverage on shares of Burke & Herbert Financial Services in a research note on Wednesday, October 16th. They set a “buy” rating and a $76.00 price objective on the stock. Keefe, Bruyette & Woods upgraded Burke & Herbert Financial Services from a “market perform” rating to an “outperform” rating and cut their price target for the stock from $79.00 to $76.00 in a research note on Monday, January 27th.

About Burke & Herbert Financial Services

Burke Herbert Financial Services Corp. is a bank holding company, which engages in the provision of banking products and financial services to small to medium-sized businesses, their owners and employees, professional corporations, non-profits, and individuals. It operates through the following loan portfolio segments: Commercial Real Estate, Owner-Occupied Commercial Real Estate, Acquisition, Construction, and Development, Commercial and Industrial, Single Family Residential (1-4 Units), and Consumer Non-Real Estate and Other.