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

Shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) have earned an average rating of “Moderate Buy” from the five analysts that are covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $71.50.

Several brokerages recently issued reports on BHRB. Weiss Ratings reiterated a “hold (c+)” rating on shares of Burke & Herbert Financial Services in a research report on Monday, December 29th. Summit Redstone set a $71.00 price target on shares of Burke & Herbert Financial Services in a research note on Thursday, October 9th. DA Davidson downgraded shares of Burke & Herbert Financial Services from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 20th. Finally, Zacks Research upgraded shares of Burke & Herbert Financial Services from a “hold” rating to a “strong-buy” rating in a report on Friday, January 30th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Alliance Wealth Strategies LLC d b a Brown Edwards Wealth Strategies acquired a new stake in Burke & Herbert Financial Services in the 4th quarter valued at approximately $563,000. Vanguard Group Inc. boosted its position in Burke & Herbert Financial Services by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 779,800 shares of the company’s stock worth $48,589,000 after acquiring an additional 14,358 shares during the last quarter. CWM LLC grew its stake in shares of Burke & Herbert Financial Services by 17.3% during the 4th quarter. CWM LLC now owns 5,128 shares of the company’s stock worth $320,000 after acquiring an additional 758 shares in the last quarter. Graves Light Lenhart Wealth Inc. bought a new position in shares of Burke & Herbert Financial Services during the 4th quarter worth approximately $201,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of Burke & Herbert Financial Services by 11.5% in the third quarter. JPMorgan Chase & Co. now owns 55,184 shares of the company’s stock valued at $3,404,000 after purchasing an additional 5,673 shares during the last quarter.

Burke & Herbert Financial Services Stock Performance

Shares of Burke & Herbert Financial Services stock opened at $68.97 on Thursday. The stock’s fifty day simple moving average is $65.26 and its 200 day simple moving average is $62.58. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $1.04 billion, a PE ratio of 8.93 and a beta of 1.02. Burke & Herbert Financial Services has a 12 month low of $47.57 and a 12 month high of $70.51.

Burke & Herbert Financial Services (NASDAQ:BHRB) last posted its earnings results on Thursday, January 22nd. The company reported $1.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.91 by $0.07. The firm had revenue of $86.56 million during the quarter, compared to analysts’ expectations of $80.72 million. Burke & Herbert Financial Services had a return on equity of 15.11% and a net margin of 23.89%. On average, research analysts predict that Burke & Herbert Financial Services will post 8.05 EPS for the current year.

Burke & Herbert Financial Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Friday, February 13th will be paid a $0.55 dividend. The ex-dividend date of this dividend is Friday, February 13th. This represents a $2.20 annualized dividend and a dividend yield of 3.2%. Burke & Herbert Financial Services’s dividend payout ratio (DPR) is currently 28.50%.

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.