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Is Burke & Herbert Bank & Trust Co (NASDAQ:BHRB) the Best Financial Dividend Stock Insiders are Buying in 2024?

Insider Monkey has been scouring insider trades this year to see which stocks are seeing increased interest from corporate officers. Amid the market's broader shift towards defensive, safe stocks that also pay dividends, we saw that insiders are flocking to buy financial and bank dividend stocks. We covered these transactions and some of the best financial dividend stocks insiders are buying recently in a separate article.

Burke & Herbert Bank & Trust Co (NASDAQ:BHRB), being an important company, also saw insider buying and it deserves special attention and analysis.

Best Financial Dividend Stocks Insiders are Buying
Best Financial Dividend Stocks Insiders are Buying

Photo by Ferran Fusalba Roselló on Unsplash

Burke & Herbert Bank & Trust Co (NASDAQ:BHRB)

Number of Hedge Fund Investors: 1

While Virginia-based Burke & Herbert Bank & Trust Co (NASDAQ:BHRB) has a healthy dividend yield (over 4%) and a low PE ratio as of May 13, the stock isn’t very popular among the hedge funds we track. As of the end of 2023, just one hedge fund had stake in Burke & Herbert Bank & Trust Co (NASDAQ:BHRB).

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On May 10, Gary L. Hinkle, a director at Burke & Herbert Bank & Trust Co (NASDAQ:BHRB), piled into 1,608 shares of Burke & Herbert Bank & Trust Co (NASDAQ:BHRB) at $49.60 per share. The net worth of this transaction was $79,757. Since this transaction the stock price has gained about 1.95%.

Despite this excellent track record, the stock begs the question: is it the best bank dividend stock insiders are buying in 2024? Does it make sense for individual investors to buy small-bank stocks or giants like JPMorgan Chase & Co. (NYSE:JPM), Wells Fargo & Company (NYSE:WFC), Citigroup Inc. (NYSE:C)? The answer is no, based on Insider Monkey's analysis. Click to see 10 Best Financial Dividend Stocks with Insider Buying that are better than Burke & Herbert Bank & Trust. Disclosure: None