Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) have earned a consensus rating of “Moderate Buy” from the seven research firms that are covering the company, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $71.40.

BHRB has been the topic of a number of recent research reports. Citigroup cut Burke & Herbert Financial Services to a “hold” rating in a report on Wednesday, February 25th. Loop Capital set a $74.00 price objective on Burke & Herbert Financial Services in a research report on Wednesday, February 25th. DA Davidson restated a “neutral” rating and set a $70.00 price target on shares of Burke & Herbert Financial Services in a report on Monday, April 27th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Burke & Herbert Financial Services in a research report on Friday, May 8th. Finally, Zacks Research lowered Burke & Herbert Financial Services from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 2nd.

Burke & Herbert Financial Services Stock Performance

BHRB stock opened at $65.49 on Wednesday. The stock’s 50 day simple moving average is $63.68 and its 200 day simple moving average is $64.57. The stock has a market capitalization of $1.32 billion, a PE ratio of 8.49 and a beta of 0.69. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.10. Burke & Herbert Financial Services has a 12-month low of $55.40 and a 12-month high of $70.90.

Burke & Herbert Financial Services (NASDAQ:BHRB) last released its quarterly earnings results on Thursday, April 23rd. The company reported $1.87 earnings per share for the quarter, meeting the consensus estimate of $1.87. The firm had revenue of $84.70 million for the quarter, compared to analysts’ expectations of $86.50 million. Burke & Herbert Financial Services had a return on equity of 14.46% and a net margin of 24.04%. As a group, research analysts forecast that Burke & Herbert Financial Services will post 8.33 earnings per share for the current fiscal year.

Burke & Herbert Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 15th were given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 3.4%. The ex-dividend date was Friday, May 15th. Burke & Herbert Financial Services’s payout ratio is 28.53%.

Insiders Place Their Bets

In related news, Director Jose David Riojas purchased 1,000 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The stock was purchased at an average price of $62.00 per share, with a total value of $62,000.00. Following the completion of the purchase, the director owned 20,000 shares of the company’s stock, valued at approximately $1,240,000. The trade was a 5.26% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Julian Forrest Jr. Barnwell purchased 5,000 shares of the firm’s stock in a transaction dated Monday, May 11th. The shares were bought at an average cost of $63.05 per share, with a total value of $315,250.00. Following the purchase, the director directly owned 208,939 shares of the company’s stock, valued at approximately $13,173,603.95. This represents a 2.45% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have acquired 12,300 shares of company stock worth $774,450 over the last three months. 10.92% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Burke & Herbert Financial Services

Large investors have recently bought and sold shares of the business. Kestra Advisory Services LLC bought a new position in Burke & Herbert Financial Services in the fourth quarter worth approximately $30,000. Aquatic Capital Management LLC bought a new position in Burke & Herbert Financial Services in the third quarter worth approximately $117,000. Graves Light Lenhart Wealth Inc. bought a new position in Burke & Herbert Financial Services in the fourth quarter worth approximately $201,000. Tower Research Capital LLC TRC raised its stake in Burke & Herbert Financial Services by 585.5% in the second quarter. Tower Research Capital LLC TRC now owns 3,393 shares of the company’s stock worth $203,000 after buying an additional 2,898 shares in the last quarter. Finally, Sei Investments Co. bought a new position in Burke & Herbert Financial Services in the second quarter worth approximately $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.