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 raised by investment analysts at Keefe, Bruyette & Woods from $80.00 to $81.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ target price suggests a potential upside of 10.93% from the stock’s current price.

Other equities analysts also recently issued reports about the company. Weiss Ratings raised Burke & Herbert Financial Services from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, June 29th. 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. Finally, DA Davidson set a $75.00 target price on shares of Burke & Herbert Financial Services in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $75.25.

Burke & Herbert Financial Services Stock Performance

Shares of BHRB opened at $73.02 on Friday. 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 stock has a market capitalization of $1.47 billion, a P/E ratio of 11.70 and a beta of 0.58. The company’s fifty day moving average is $68.11 and its two-hundred day moving average is $65.76. Burke & Herbert Financial Services has a 1 year low of $56.11 and a 1 year high of $74.32.

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

Insiders Place Their Bets

In other Burke & Herbert Financial Services news, Director Jill S. Upson sold 1,112 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were 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 represents a 35.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jose David Riojas purchased 1,000 shares of the stock in a transaction dated Tuesday, May 12th. The stock was acquired at an average price of $62.00 per share, for a total transaction of $62,000.00. Following the completion of the transaction, the director directly owned 20,000 shares of the company’s stock, valued at approximately $1,240,000. The trade was 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 quarter, insiders acquired 11,300 shares of company stock worth $709,650. Insiders own 11.99% of the company’s stock.

Institutional Investors Weigh In On Burke & Herbert Financial Services

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of Burke & Herbert Financial Services by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 779,800 shares of the company’s stock worth $48,589,000 after acquiring an additional 14,358 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Burke & Herbert Financial Services by 15.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 367,948 shares of the company’s stock worth $22,919,000 after purchasing an additional 49,957 shares in the last quarter. Goldman Sachs Group Inc. increased its position in Burke & Herbert Financial Services by 68.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 164,263 shares of the company’s stock worth $10,235,000 after purchasing an additional 66,778 shares in the last quarter. Endeavour Capital Advisors Inc. raised its stake in Burke & Herbert Financial Services by 22.0% in the 4th quarter. Endeavour Capital Advisors Inc. now owns 125,323 shares of the company’s stock valued at $7,809,000 after purchasing an additional 22,601 shares during the last quarter. Finally, Marshall Wace LLP lifted its holdings in Burke & Herbert Financial Services by 18.6% in the 2nd quarter. Marshall Wace LLP now owns 90,664 shares of the company’s stock valued at $5,415,000 after purchasing an additional 14,217 shares in the last quarter.

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.