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

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) has been assigned a consensus recommendation of “Moderate Buy” from the six analysts that are covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $75.25.

A number of equities analysts have commented on the stock. Keefe, Bruyette & Woods raised their target price on shares of Burke & Herbert Financial Services from $80.00 to $81.00 and gave the stock an “outperform” rating in a research report on Friday. DA Davidson set a $75.00 target price on Burke & Herbert Financial Services in a research report on Monday. Weiss Ratings upgraded Burke & Herbert Financial Services from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, June 29th. Finally, Freedom Capital upgraded shares of Burke & Herbert Financial Services from a “hold” rating to a “strong-buy” rating in a report on Friday, May 15th.

Burke & Herbert Financial Services Trading Down 0.8%

Burke & Herbert Financial Services stock traded down $0.59 during mid-day trading on Friday, hitting $72.43. The company’s stock had a trading volume of 11,274 shares, compared to its average volume of 132,489. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.78 and a current ratio of 0.78. The company has a 50 day moving average of $68.11 and a 200-day moving average of $65.76. Burke & Herbert Financial Services has a one year low of $56.11 and a one year high of $74.32. The stock has a market cap of $1.46 billion, a PE ratio of 11.65 and a beta of 0.58.

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

Burke & Herbert Financial Services Dividend Announcement

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

Insider Buying and Selling at Burke & Herbert Financial Services

In related news, Director Jose David Riojas purchased 1,000 shares of Burke & Herbert Financial Services stock in a transaction dated Tuesday, May 12th. The stock was purchased at an average cost 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. The trade was a 5.26% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jill S. Upson sold 1,112 shares of the company’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $63.30, for a total value of $70,389.60. Following the sale, the director owned 2,000 shares of the company’s stock, valued at $126,600. This trade represents a 35.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have purchased 11,300 shares of company stock valued at $709,650. 11.99% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Burke & Herbert Financial Services

Large investors have recently added to or reduced their stakes in the company. Kestra Advisory Services LLC bought a new stake in shares of Burke & Herbert Financial Services in the 4th quarter valued at about $30,000. Aquatic Capital Management LLC bought a new position in shares of Burke & Herbert Financial Services during the 3rd quarter worth approximately $117,000. Stonebridge Financial Group LLC purchased a new stake in Burke & Herbert Financial Services during the second quarter valued at approximately $203,000. Tower Research Capital LLC TRC lifted its position in Burke & Herbert Financial Services by 585.5% during the second quarter. Tower Research Capital LLC TRC now owns 3,393 shares of the company’s stock valued at $203,000 after acquiring an additional 2,898 shares during the last quarter. Finally, Sei Investments Co. acquired a new stake in Burke & Herbert Financial Services in the second quarter valued at 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.