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

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) announced a quarterly dividend on Thursday, April 23rd. Stockholders of record on Friday, May 15th will be paid a dividend of 0.55 per share on Monday, June 1st. This represents a c) annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Friday, May 15th.

Burke & Herbert Financial Services has a payout ratio of 28.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Burke & Herbert Financial Services to earn $8.75 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 25.1%.

Burke & Herbert Financial Services Price Performance

NASDAQ BHRB opened at $64.50 on Friday. The company has a market cap of $970.08 million, a PE ratio of 8.35 and a beta of 0.98. The firm’s 50 day moving average price is $64.18 and its 200-day moving average price is $63.86. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.81 and a current ratio of 0.81. Burke & Herbert Financial Services has a 52-week low of $50.61 and a 52-week high of $70.90.

Burke & Herbert Financial Services (NASDAQ:BHRB) last posted its earnings results on Friday, April 24th. The company reported $1.87 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.87. The company had revenue of $84.70 million during the quarter, compared to analyst estimates of $86.50 million. Burke & Herbert Financial Services had a return on equity of 14.79% and a net margin of 23.89%. Sell-side analysts forecast that Burke & Herbert Financial Services will post 8.15 EPS for the current fiscal year.

About Burke & Herbert Financial Services

Burke & Herbert Financial Services, Inc is a bank holding company headquartered in Alexandria, Virginia, and the parent company of Burke & Herbert Bank. The company operates as a community‐focused financial institution, offering a full suite of commercial and consumer banking products to individuals, small businesses, and nonprofit organizations in the Washington, DC metropolitan area.

The company’s core banking services include traditional deposit accounts such as checking, savings, money market and certificates of deposit, alongside digital banking platforms for online and mobile account access.