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

Shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) have received a consensus recommendation of “Moderate Buy” from the seven analysts that are covering the company, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $71.40.

A number of equities research analysts have recently weighed in on the company. Loop Capital set a $74.00 price target on Burke & Herbert Financial Services in a research note on Wednesday, February 25th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Burke & Herbert Financial Services in a research note on Friday, May 8th. Citigroup downgraded Burke & Herbert Financial Services to a “hold” rating in a research note on Wednesday, February 25th. DA Davidson reaffirmed a “neutral” rating and set a $70.00 price target on shares of Burke & Herbert Financial Services in a research note on Monday, April 27th. Finally, Freedom Capital raised Burke & Herbert Financial Services from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 15th.

Burke & Herbert Financial Services Price Performance

BHRB opened at $67.08 on Wednesday. Burke & Herbert Financial Services has a fifty-two week low of $55.40 and a fifty-two week high of $70.90. The business has a 50-day moving average of $63.94 and a 200-day moving average of $64.65. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.78 and a quick ratio of 0.78. The company has a market capitalization of $1.35 billion, a PE ratio of 8.70 and a beta of 0.69.

Burke & Herbert Financial Services (NASDAQ:BHRB) last posted its quarterly earnings results on Thursday, April 23rd. The company reported $1.87 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.87. Burke & Herbert Financial Services had a return on equity of 14.46% and a net margin of 24.04%.The company had revenue of $84.70 million during the quarter, compared to the consensus estimate of $86.50 million. Equities research analysts forecast that Burke & Herbert Financial Services will post 8.33 EPS for the current fiscal year.

Burke & Herbert Financial Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 15th were paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend was Friday, May 15th. Burke & Herbert Financial Services’s dividend payout ratio (DPR) is presently 28.53%.

Insider Buying and Selling

In related news, Director Jill S. Upson sold 1,112 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $63.30, for a total value of $70,389.60. Following the transaction, the director directly owned 2,000 shares of the company’s stock, valued at approximately $126,600. This trade represents a 35.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jose David Riojas acquired 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The stock was bought at an average cost of $62.00 per share, for a total transaction of $62,000.00. Following the completion of the purchase, the director directly owned 20,000 shares in the company, valued at $1,240,000. This represents a 5.26% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired a total of 12,300 shares of company stock valued at $774,450 over the last 90 days. 11.99% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in BHRB. Kestra Advisory Services LLC bought a new position in shares of Burke & Herbert Financial Services in the 4th quarter valued at approximately $30,000. Aquatic Capital Management LLC bought a new position in shares of Burke & Herbert Financial Services in the 3rd quarter valued at approximately $117,000. Graves Light Lenhart Wealth Inc. bought a new position in shares of Burke & Herbert Financial Services in the 4th quarter valued at approximately $201,000. Tower Research Capital LLC TRC increased its position in Burke & Herbert Financial Services by 585.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,393 shares of the company’s stock worth $203,000 after buying an additional 2,898 shares during the period. Finally, Sei Investments Co. bought a new position in Burke & Herbert Financial Services in the 2nd quarter worth approximately $204,000.

Burke & Herbert Financial Services Company Profile

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.