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

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

Burke & Herbert Financial Services has a payout ratio of 28.0% indicating that 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 Trading Up 0.1%

Burke & Herbert Financial Services stock opened at $64.50 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.10. Burke & Herbert Financial Services has a 12 month low of $50.61 and a 12 month high of $70.90. The stock’s 50 day simple moving average is $64.18 and its two-hundred day simple moving average is $63.86. The firm has a market cap of $970.08 million, a PE ratio of 8.35 and a beta of 0.98.

Burke & Herbert Financial Services (NASDAQ:BHRB) last released its quarterly earnings data on Friday, April 24th. The company reported $1.87 EPS for the quarter, hitting the consensus estimate of $1.87. Burke & Herbert Financial Services had a return on equity of 14.79% and a net margin of 23.89%.The business had revenue of $84.70 million for the quarter, compared to analyst estimates of $86.50 million. Analysts anticipate that Burke & Herbert Financial Services will post 8.15 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Quantbot Technologies LP raised its stake in shares of Burke & Herbert Financial Services by 8.1% during the 2nd quarter. Quantbot Technologies LP now owns 3,897 shares of the company’s stock worth $233,000 after buying an additional 292 shares during the period. Rhumbline Advisers raised its stake in shares of Burke & Herbert Financial Services by 1.7% during the 2nd quarter. Rhumbline Advisers now owns 17,961 shares of the company’s stock worth $1,073,000 after buying an additional 298 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Burke & Herbert Financial Services by 4.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,030 shares of the company’s stock worth $451,000 after buying an additional 319 shares during the period. EJF Capital LLC raised its stake in shares of Burke & Herbert Financial Services by 0.9% during the 3rd quarter. EJF Capital LLC now owns 49,850 shares of the company’s stock worth $3,075,000 after buying an additional 448 shares during the period. Finally, Kestra Advisory Services LLC acquired a new position in shares of Burke & Herbert Financial Services during the 4th quarter worth approximately $30,000.

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.