Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Stock Now Rated “Moderate Buy” by Sell-Side Analysts

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) has been assigned an average recommendation of “Moderate Buy” from the six analysts that are currently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $76.67.

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

Burke & Herbert Financial Services Trading Up 1.5%

Shares of NASDAQ BHRB opened at $70.15 on Wednesday. Burke & Herbert Financial Services has a 12-month low of $58.01 and a 12-month high of $75.08. The company has a market cap of $1.42 billion, a price-to-earnings ratio of 8.80 and a beta of 0.58. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13. The stock’s 50 day simple moving average is $70.64 and its 200 day simple moving average is $68.29.

Burke & Herbert Financial Services (NASDAQ:BHRB) last announced its quarterly earnings results on Thursday, July 23rd. The company reported $2.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.05. Burke & Herbert Financial Services had a net margin of 18.86% and a return on equity of 13.66%. The company had revenue of $106.89 million during the quarter, compared to the consensus estimate of $112.86 million. Equities research analysts expect that Burke & Herbert Financial Services will post 8.09 EPS for the current year.

Burke & Herbert Financial Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Friday, August 14th were paid a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Friday, August 14th. Burke & Herbert Financial Services’s dividend payout ratio is currently 35.26%.

Insiders Place Their Bets

In related news, Director Georgette R. George sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $73.67, for a total transaction of $73,670.00. Following the transaction, the director directly owned 38,321 shares of the company’s stock, valued at approximately $2,823,108.07. The trade was a 2.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director James P. Geary II sold 3,150 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $73.93, for a total value of $232,879.50. Following the sale, the director owned 9,457 shares of the company’s stock, valued at approximately $699,156.01. This represents a 24.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have purchased 1,369 shares of company stock worth $100,747 and have sold 5,650 shares worth $416,094. Company insiders own 11.99% of the company’s stock.

Hedge Funds Weigh In On Burke & Herbert Financial Services

Several hedge funds have recently bought and sold shares of BHRB. State of Alaska Department of Revenue increased its stake in Burke & Herbert Financial Services by 33.3% in the third quarter. State of Alaska Department of Revenue now owns 808 shares of the company’s stock valued at $55,000 after acquiring an additional 202 shares during the period. Arizona State Retirement System raised its holdings in shares of Burke & Herbert Financial Services by 23.1% in the 2nd quarter. Arizona State Retirement System now owns 4,575 shares of the company’s stock worth $329,000 after buying an additional 859 shares in the last quarter. Quantinno Capital Management LP boosted its stake in Burke & Herbert Financial Services by 13.9% in the 1st quarter. Quantinno Capital Management LP now owns 9,439 shares of the company’s stock valued at $588,000 after buying an additional 1,150 shares in the last quarter. Y Intercept Hong Kong Ltd increased its position in shares of Burke & Herbert Financial Services by 58.9% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 6,013 shares of the company’s stock worth $375,000 after purchasing an additional 2,230 shares in the last quarter. Finally, Stonebridge Financial Group LLC bought a new position in Burke & Herbert Financial Services during the 2nd quarter valued at about $203,000.

About Burke & Herbert Financial Services

Burke & Herbert Financial Services Corporation (NASDAQ:BHRB) is the bank holding company for Burke & Herbert Bank, a community banking institution headquartered in Alexandria, Virginia. Founded in 1852, Burke & Herbert Bank is one of Virginia’s oldest continuously operating banks and provides financial services to individuals, businesses, nonprofit organizations and public-sector customers.

The company offers deposit accounts, consumer and commercial lending, residential mortgages, home equity loans, treasury and cash-management services, credit cards and online and mobile banking.