Burke & Herbert Financial Services (NASDAQ:BHRB) Stock Rating Lowered by Zacks Research

Burke & Herbert Financial Services (NASDAQ:BHRB) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

Other analysts have also recently issued reports about the stock. Freedom Capital cut shares of Burke & Herbert Financial Services from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 25th. Citigroup downgraded Burke & Herbert Financial Services to a “hold” rating in a research report on Wednesday, February 25th. Weiss Ratings reissued a “hold (c+)” rating on shares of Burke & Herbert Financial Services in a research note on Monday, December 29th. DA Davidson started coverage on Burke & Herbert Financial Services in a research report on Wednesday, February 25th. They set a “neutral” rating and a $75.00 target price for the company. Finally, Loop Capital set a $74.00 price target on Burke & Herbert Financial Services in a report on Wednesday, February 25th. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Burke & Herbert Financial Services currently has an average rating of “Hold” and a consensus target price of $72.40.

Burke & Herbert Financial Services Stock Up 0.5%

Shares of NASDAQ BHRB opened at $65.77 on Monday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.11. The company has a market cap of $989.18 million, a P/E ratio of 8.52 and a beta of 1.02. Burke & Herbert Financial Services has a 52 week low of $47.57 and a 52 week high of $70.90. The business has a 50-day simple moving average of $65.44 and a two-hundred day simple moving average of $63.62.

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

Institutional Investors Weigh In On Burke & Herbert Financial Services

Several hedge funds have recently added to or reduced their stakes in BHRB. Invesco Ltd. boosted its holdings in shares of Burke & Herbert Financial Services by 12.5% in the 4th quarter. Invesco Ltd. now owns 16,388 shares of the company’s stock worth $1,021,000 after purchasing an additional 1,820 shares in the last quarter. Empowered Funds LLC increased its stake in Burke & Herbert Financial Services by 122.0% in the 4th quarter. Empowered Funds LLC now owns 46,053 shares of the company’s stock worth $2,870,000 after purchasing an additional 25,306 shares during the period. Millennium Management LLC bought a new stake in Burke & Herbert Financial Services in the fourth quarter valued at approximately $454,000. Bridgeway Capital Management LLC boosted its stake in shares of Burke & Herbert Financial Services by 235.4% during the fourth quarter. Bridgeway Capital Management LLC now owns 81,653 shares of the company’s stock valued at $5,088,000 after purchasing an additional 57,306 shares during the period. Finally, AQR Capital Management LLC grew its holdings in shares of Burke & Herbert Financial Services by 15.0% in the fourth quarter. AQR Capital Management LLC now owns 74,551 shares of the company’s stock worth $4,645,000 after purchasing an additional 9,734 shares during the last quarter.

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.