Burke & Herbert Financial Services Corp. (BHRB) To Go Ex-Dividend on August 14th

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) announced a quarterly dividend on Thursday, July 23rd. Investors of record on Friday, August 14th will be paid a dividend of 0.55 per share on Tuesday, September 1st. This represents a c) annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Friday, August 14th.

Burke & Herbert Financial Services has a dividend payout ratio of 28.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Burke & Herbert Financial Services to earn $8.78 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 Stock Performance

Shares of NASDAQ BHRB opened at $73.62 on Wednesday. Burke & Herbert Financial Services has a 12-month low of $57.42 and a 12-month high of $75.08. The firm has a market capitalization of $1.48 billion, a price-to-earnings ratio of 11.80 and a beta of 0.57. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.10. The firm has a 50 day moving average of $69.77 and a 200 day moving average of $66.28.

Burke & Herbert Financial Services (NASDAQ:BHRB) last released its quarterly earnings results on Thursday, July 23rd. The company reported $2.03 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.05. The business had revenue of $106.89 million for the quarter, compared to the consensus estimate of $112.86 million. Burke & Herbert Financial Services had a net margin of 18.86% and a return on equity of 15.11%. On average, research analysts anticipate that Burke & Herbert Financial Services will post 8.19 earnings per share for the current year.

Insider Transactions at Burke & Herbert Financial Services

In other Burke & Herbert Financial Services news, Director Jill S. Upson sold 1,112 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $63.30, for a total transaction of $70,389.60. Following the completion of the transaction, the director owned 2,000 shares in the company, valued at $126,600. This trade represents a 35.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Georgette R. George sold 1,000 shares of Burke & Herbert Financial Services stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $73.67, for a total value of $73,670.00. Following the completion of the sale, the director directly owned 38,321 shares in the company, valued at approximately $2,823,108.07. The trade was a 2.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have purchased 5,134 shares of company stock valued at $323,673 and have sold 5,262 shares valued at $376,939. Corporate insiders own 11.99% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of BHRB. Kestra Advisory Services LLC bought a new position in Burke & Herbert Financial Services during the 4th quarter valued at about $30,000. Aquatic Capital Management LLC bought a new position in shares of Burke & Herbert Financial Services during the third quarter valued at approximately $117,000. Stonebridge Financial Group LLC purchased a new stake in shares of Burke & Herbert Financial Services in the second quarter worth approximately $203,000. Tower Research Capital LLC TRC lifted its stake in shares of Burke & Herbert Financial Services by 585.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,393 shares of the company’s stock worth $203,000 after acquiring an additional 2,898 shares during the last quarter. Finally, Sei Investments Co. purchased a new position in Burke & Herbert Financial Services during the 2nd quarter valued at $204,000.

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.