Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) have been assigned an average recommendation of “Moderate Buy” from the six research firms that are currently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $75.25.

A number of equities research analysts have weighed in on the company. DA Davidson set a $75.00 price objective on Burke & Herbert Financial Services in a research note on Monday, July 27th. Freedom Capital raised Burke & Herbert Financial Services from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 15th. Wall Street Zen upgraded Burke & Herbert Financial Services from a “sell” rating to a “hold” rating in a research note on Sunday, August 9th. Keefe, Bruyette & Woods lifted their price target on shares of Burke & Herbert Financial Services from $80.00 to $81.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Finally, Weiss Ratings upgraded shares of Burke & Herbert Financial Services from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, August 12th.

Insiders Place Their Bets

In other news, Director Diane Poillon acquired 1,200 shares of the stock in a transaction that occurred on Wednesday, August 12th. The stock was purchased at an average cost of $73.67 per share, with a total value of $88,404.00. Following the completion of the acquisition, the director directly owned 4,128 shares in the company, valued at $304,109.76. This represents a 40.98% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Julian Forrest Jr. Barnwell acquired 5,000 shares of the business’s stock in a transaction on Wednesday, June 3rd. The shares were purchased at an average price of $62.76 per share, for a total transaction of $313,800.00. Following the purchase, the director directly owned 26,580 shares of the company’s stock, valued at $1,668,160.80. This represents a 23.17% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders acquired 6,369 shares of company stock valued at $414,547 and sold 5,650 shares valued at $416,094. 11.99% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Burke & Herbert Financial Services

Several large investors have recently added to or reduced their stakes in the company. Kestra Advisory Services LLC bought a new stake in Burke & Herbert Financial Services during the fourth quarter valued at $30,000. Aquatic Capital Management LLC acquired a new position in shares of Burke & Herbert Financial Services in the 3rd quarter valued at about $117,000. Stonebridge Financial Group LLC bought a new stake in shares of Burke & Herbert Financial Services during the 2nd quarter valued at about $203,000. Tower Research Capital LLC TRC grew its position 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 valued at $203,000 after buying an additional 2,898 shares during the last quarter. Finally, Sei Investments Co. acquired a new stake in Burke & Herbert Financial Services during the second quarter worth about $204,000.

Burke & Herbert Financial Services Stock Performance

Shares of BHRB stock opened at $72.70 on Tuesday. Burke & Herbert Financial Services has a 12 month low of $57.42 and a 12 month high of $75.08. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84. The firm has a market capitalization of $1.47 billion, a P/E ratio of 11.65 and a beta of 0.57. The company’s fifty day moving average price is $71.06 and its two-hundred day moving average price is $66.73.

Burke & Herbert Financial Services (NASDAQ:BHRB) last announced its earnings results on Thursday, July 23rd. The company reported $2.03 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.05. Burke & Herbert Financial Services had a return on equity of 13.66% and a net margin of 18.86%.The company had revenue of $106.89 million during the quarter, compared to the consensus estimate of $112.86 million. On average, research analysts anticipate that Burke & Herbert Financial Services will post 8.19 earnings per share for the current fiscal year.

Burke & Herbert Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $2.20 annualized dividend and a dividend yield of 3.0%. Burke & Herbert Financial Services’s dividend payout ratio (DPR) is presently 35.26%.

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.