Burke & Herbert Financial Services (NASDAQ:BHRB) Announces Quarterly Earnings Results

Burke & Herbert Financial Services (NASDAQ:BHRB) issued its quarterly earnings results on Thursday. The company reported $1.98 EPS for the quarter, topping the consensus estimate of $1.91 by $0.07, FiscalAI reports. Burke & Herbert Financial Services had a return on equity of 14.95% and a net margin of 21.68%.The firm had revenue of $86.56 million during the quarter, compared to analysts’ expectations of $80.72 million.

Burke & Herbert Financial Services Stock Up 1.4%

Shares of BHRB opened at $66.95 on Friday. The company’s 50-day moving average price is $64.65 and its 200 day moving average price is $62.49. Burke & Herbert Financial Services has a 12-month low of $47.57 and a 12-month high of $70.51. 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 firm has a market cap of $1.01 billion, a P/E ratio of 9.51 and a beta of 1.02.

Burke & Herbert Financial Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Friday, February 13th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 3.3%. The ex-dividend date is Friday, February 13th. Burke & Herbert Financial Services’s payout ratio is 31.25%.

Insider Buying and Selling at Burke & Herbert Financial Services

In other news, Director Shawn Patrick Mclaughlin acquired 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 28th. The shares were purchased at an average price of $61.00 per share, for a total transaction of $61,000.00. Following the acquisition, the director owned 67,000 shares of the company’s stock, valued at $4,087,000. This represents a 1.52% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 10.92% of the stock is currently owned by corporate insiders.

Institutional Trading of Burke & Herbert Financial Services

Several hedge funds have recently made changes to their positions in BHRB. Rafferty Asset Management LLC acquired a new position in shares of Burke & Herbert Financial Services in the second quarter worth $340,000. BNP Paribas Financial Markets boosted its holdings in Burke & Herbert Financial Services by 169.6% in the second quarter. BNP Paribas Financial Markets now owns 13,688 shares of the company’s stock valued at $818,000 after purchasing an additional 8,610 shares during the period. Sei Investments Co. purchased a new position in Burke & Herbert Financial Services in the second quarter valued at $204,000. Marshall Wace LLP grew its stake in Burke & Herbert Financial Services by 18.6% during the 2nd quarter. Marshall Wace LLP now owns 90,664 shares of the company’s stock worth $5,415,000 after purchasing an additional 14,217 shares in the last quarter. Finally, First Trust Advisors LP increased its holdings in Burke & Herbert Financial Services by 6.6% during the 2nd quarter. First Trust Advisors LP now owns 9,576 shares of the company’s stock worth $572,000 after purchasing an additional 592 shares during the period.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. DA Davidson cut shares of Burke & Herbert Financial Services from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. Zacks Research raised shares of Burke & Herbert Financial Services from a “strong sell” rating to a “hold” rating in a research note on Monday, September 29th. Summit Redstone set a $71.00 price objective on shares of Burke & Herbert Financial Services in a research note on Thursday, October 9th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Burke & Herbert Financial Services in a report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $71.50.

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.