Barclays PLC Boosts Position in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB)

Barclays PLC raised its stake in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) by 204.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,225 shares of the company’s stock after buying an additional 14,915 shares during the period. Barclays PLC’s holdings in Burke & Herbert Financial Services were worth $1,357,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in BHRB. HHM Wealth Advisors LLC bought a new stake in shares of Burke & Herbert Financial Services during the second quarter valued at approximately $29,000. Quadrature Capital Ltd increased its holdings in Burke & Herbert Financial Services by 4.8% during the 3rd quarter. Quadrature Capital Ltd now owns 12,309 shares of the company’s stock worth $750,000 after purchasing an additional 566 shares during the period. Jane Street Group LLC increased its holdings in Burke & Herbert Financial Services by 6.9% during the 3rd quarter. Jane Street Group LLC now owns 18,772 shares of the company’s stock worth $1,145,000 after purchasing an additional 1,218 shares during the period. Moors & Cabot Inc. raised its position in Burke & Herbert Financial Services by 6.9% during the 2nd 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. Finally, Quantbot Technologies LP purchased a new stake in shares of Burke & Herbert Financial Services in the 3rd quarter worth $118,000.

Burke & Herbert Financial Services Stock Performance

Shares of BHRB stock opened at $62.44 on Friday. The company’s 50 day moving average is $67.13 and its 200 day moving average is $61.99. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.15. The firm has a market cap of $934.60 million and a price-to-earnings ratio of 8.12. Burke & Herbert Financial Services Corp. has a 52-week low of $46.00 and a 52-week high of $75.32.

Burke & Herbert Financial Services Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 15th were given a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 3.52%. This is a positive change from Burke & Herbert Financial Services’s previous quarterly dividend of $0.53. The ex-dividend date was Friday, November 15th. Burke & Herbert Financial Services’s payout ratio is presently 28.61%.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Keefe, Bruyette & Woods raised their price target on Burke & Herbert Financial Services from $72.00 to $79.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. DA Davidson started coverage on shares of Burke & Herbert Financial Services in a report on Wednesday, October 16th. They set a “buy” rating and a $76.00 target price on the stock.

Insider Buying and Selling

In other news, Director Shawn Patrick Mclaughlin acquired 555 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were purchased at an average price of $69.35 per share, with a total value of $38,489.25. Following the transaction, the director now directly owns 61,000 shares in the company, valued at approximately $4,230,350. This represents a 0.92 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gary L. Hinkle bought 3,652 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were purchased at an average cost of $68.56 per share, with a total value of $250,381.12. Following the transaction, the director now directly owns 236,807 shares of the company’s stock, valued at $16,235,487.92. The trade was a 1.57 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 8,950 shares of company stock worth $614,711 in the last three months. 9.65% of the stock is owned by insiders.

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.