Keefe, Bruyette & Woods Issues Positive Forecast for Burke & Herbert Financial Services (NASDAQ:BHRB) Stock Price

Burke & Herbert Financial Services (NASDAQ:BHRB) had its price target increased by Keefe, Bruyette & Woods from $80.00 to $81.00 in a report released on Friday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities analysts have also recently issued reports on BHRB. Freedom Capital upgraded Burke & Herbert Financial Services from a “hold” rating to a “strong-buy” rating in a report on Friday, May 15th. Weiss Ratings raised Burke & Herbert Financial Services from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, June 29th. Finally, DA Davidson set a $75.00 price target on Burke & Herbert Financial Services in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $75.25.

Burke & Herbert Financial Services Stock Up 0.3%

BHRB stock opened at $73.25 on Friday. The firm has a market cap of $1.48 billion, a PE ratio of 11.74 and a beta of 0.58. Burke & Herbert Financial Services has a 12 month low of $56.11 and a 12 month high of $74.32. 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 firm has a 50 day simple moving average of $68.32 and a 200 day simple moving average of $65.81.

Burke & Herbert Financial Services (NASDAQ:BHRB) last posted its quarterly earnings results on Thursday, July 23rd. The company reported $2.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.05. The firm had revenue of $106.90 million for the quarter, compared to analyst estimates of $112.86 million. Burke & Herbert Financial Services had a net margin of 18.86% and a return on equity of 15.11%. Equities research analysts forecast that Burke & Herbert Financial Services will post 8.19 earnings per share for the current fiscal year.

Burke & Herbert Financial Services Announces Dividend

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

Insider Buying and Selling

In related news, Director Jill S. Upson sold 1,112 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $63.30, for a total transaction of $70,389.60. Following the transaction, the director directly owned 2,000 shares of the company’s stock, valued at approximately $126,600. The trade was a 35.73% 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 Jose David Riojas bought 1,000 shares of the business’s stock in a transaction on Tuesday, May 12th. The stock was bought at an average price of $62.00 per share, with a total value of $62,000.00. Following the transaction, the director owned 20,000 shares in the company, valued at approximately $1,240,000. This represents a 5.26% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders purchased 11,300 shares of company stock worth $709,650. 11.99% of the stock is owned by company insiders.

Institutional Trading of Burke & Herbert Financial Services

Several hedge funds and other institutional investors have recently modified their holdings of BHRB. Kestra Advisory Services LLC acquired a new stake in Burke & Herbert Financial Services in the fourth quarter valued at approximately $30,000. Aquatic Capital Management LLC acquired a new position in shares of Burke & Herbert Financial Services during the 3rd quarter worth $117,000. Stonebridge Financial Group LLC acquired a new position in shares of Burke & Herbert Financial Services during the 2nd quarter worth $203,000. Tower Research Capital LLC TRC raised its holdings 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 purchasing an additional 2,898 shares in the last quarter. Finally, Sei Investments Co. acquired a new stake in shares of Burke & Herbert Financial Services in the 2nd quarter valued at $204,000.

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.