Burke & Herbert Financial Services Corp. (BHRB) To Go Ex-Dividend on November 13th

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) declared a quarterly dividend on Thursday, October 22nd. Shareholders of record on Friday, November 13th will be given a dividend of $0.55 per share on Tuesday, December 1st. This represents a $2.20 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Friday, November 13th.

Burke & Herbert Financial Services has a dividend payout ratio of 28.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Burke & Herbert Financial Services to earn $8.82 per share next year, which means the company should continue to be able to cover its $2.20 annual dividend with an expected future payout ratio of 24.9%.

Burke & Herbert Financial Services Stock Performance

NASDAQ:BHRB opened at $70.60 on Wednesday. The company has a market cap of $1.43 billion, a P/E ratio of 8.81 and a beta of 0.57. The firm’s 50 day moving average is $70.21 and its two-hundred day moving average is $67.68. Burke & Herbert Financial Services has a fifty-two week low of $59.00 and a fifty-two week high of $75.08. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13.

Burke & Herbert Financial Services (NASDAQ:BHRB) last announced its quarterly earnings data on Thursday, October 22nd. The company reported $2.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.05 by $0.09. The company had revenue of $119.74 million during the quarter, compared to analysts’ expectations of $121.32 million. Burke & Herbert Financial Services had a net margin of 18.43% and a return on equity of 14.54%. Analysts expect that Burke & Herbert Financial Services will post 8.06 EPS for the current year.

Insiders Place Their Bets

In other Burke & Herbert Financial Services news, Director Shawn Mclaughlin purchased 500 shares of the firm’s stock in a transaction that occurred on Thursday, October 29th. The stock was purchased at an average cost of $71.00 per share, with a total value of $35,500.00. Following the transaction, the director owned 71,500 shares in the company, valued at approximately $5,076,500. This trade represents a 0.70% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last three months, insiders have acquired 639 shares of company stock worth $45,244. 11.99% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of BHRB. Banc Funds Co. LLC boosted its position in shares of Burke & Herbert Financial Services by 14.7% in the third quarter. Banc Funds Co. LLC now owns 94,494 shares of the company’s stock worth $6,482,000 after buying an additional 12,120 shares during the period. Ieq Capital LLC acquired a new position in Burke & Herbert Financial Services during the 3rd quarter worth approximately $297,000. Signaturefd LLC boosted its holdings in Burke & Herbert Financial Services by 2,636.4% in the 3rd quarter. Signaturefd LLC now owns 1,505 shares of the company’s stock worth $103,000 after acquiring an additional 1,450 shares during the period. NTV Asset Management LLC purchased a new position in Burke & Herbert Financial Services in the 3rd quarter worth approximately $465,000. Finally, Canton Hathaway LLC purchased a new position in Burke & Herbert Financial Services in the 3rd quarter worth approximately $305,000.

Burke & Herbert Financial Services Company Profile

Burke & Herbert Financial Services Corp. is the bank holding company for Burke & Herbert Bank & Trust, a community bank headquartered in Alexandria, Virginia. The bank traces its roots to 1852 and provides personal and business banking services, including deposit accounts, commercial and consumer loans, mortgage lending, and cash-management services. The company also offers wealth management, trust, and investment services. Its banking operations serve customers in Virginia and other Mid-Atlantic and Appalachian markets, including communities added through its merger with Summit Financial Group in 2023.