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In a recent transaction, Shawn Patrick McLaughlin, a director at Burke & Herbert Financial Services Corp. (NASDAQ:BHRB), acquired 1,000 shares of the company’s common stock. The shares were bought at a price of $56.25 each, amounting to a total purchase value of $56,250. Following this acquisition, McLaughlin now holds a total of 66,000 shares directly. The director’s continued investment comes as the company maintains its 19-year track record of consistent dividend payments. Additionally, McLaughlin has indirect ownership of 1,000 shares through McLaughlin Ryder Investments, Inc., an affiliated company. For more detailed insights and analysis, including 5 additional ProTips, visit InvestingPro.
In other recent news, Burke & Herbert Financial Services Corp. announced its first-quarter financial results, reporting a net income of $27.0 million, or $1.80 per diluted common share. This represents an increase from the previous quarter’s net income of $19.6 million. The company declared a regular cash dividend of $0.55 per share and authorized a share repurchase program of up to $50.0 million. In corporate governance developments, shareholders approved the election of all fifteen directors at the Annual Meeting, as well as the appointment of Crowe LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2025. In executive news, Burke & Herbert appointed Patrick "Kip" Huffman as Senior Vice President and Chief Accounting Officer. This follows the departure of Julie R. Markwood, who will not return due to health reasons after a 37-year tenure. Kirtan Parikh will continue as Interim Chief Accounting Officer during this transition. These updates reflect the company’s ongoing strategic initiatives and leadership changes.
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