Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Receives $71.50 Average Target Price from Analysts

Shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) have earned a consensus recommendation of “Moderate Buy” from the five ratings firms that are presently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $71.50.

A number of analysts have commented on the stock. Zacks Research upgraded shares of Burke & Herbert Financial Services from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 30th. 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, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Burke & Herbert Financial Services in a research report on Monday, December 29th.

Institutional Trading of Burke & Herbert Financial Services

Several institutional investors have recently made changes to their positions in BHRB. Quantbot Technologies LP boosted its holdings in Burke & Herbert Financial Services by 8.1% during the second quarter. Quantbot Technologies LP now owns 3,897 shares of the company’s stock worth $233,000 after purchasing an additional 292 shares during the last quarter. Rhumbline Advisers grew its holdings in shares of Burke & Herbert Financial Services by 1.7% in the second quarter. Rhumbline Advisers now owns 17,961 shares of the company’s stock valued at $1,073,000 after acquiring an additional 298 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Burke & Herbert Financial Services by 4.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,030 shares of the company’s stock valued at $451,000 after acquiring an additional 319 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of Burke & Herbert Financial Services by 22.2% during the second quarter. PNC Financial Services Group Inc. now owns 2,202 shares of the company’s stock valued at $132,000 after acquiring an additional 400 shares during the last quarter. Finally, EJF Capital LLC lifted its holdings in Burke & Herbert Financial Services by 0.9% during the third quarter. EJF Capital LLC now owns 49,850 shares of the company’s stock worth $3,075,000 after acquiring an additional 448 shares during the period.

Burke & Herbert Financial Services Stock Up 0.1%

BHRB stock opened at $69.71 on Thursday. The stock’s 50 day simple moving average is $65.65 and its 200 day simple moving average is $62.77. The company has a market cap of $1.05 billion, a P/E ratio of 9.03 and a beta of 1.02. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.81 and a current ratio of 0.81. Burke & Herbert Financial Services has a fifty-two week low of $47.57 and a fifty-two week high of $70.90.

Burke & Herbert Financial Services (NASDAQ:BHRB) last released its quarterly earnings data on Thursday, January 22nd. The company reported $1.98 EPS 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 during the quarter, compared to the consensus estimate of $80.72 million. On average, research analysts expect that Burke & Herbert Financial Services will post 8.05 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 Monday, March 2nd. Investors of record on Friday, February 13th will be given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Friday, February 13th. Burke & Herbert Financial Services’s dividend payout ratio is presently 28.50%.

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.