Burke & Herbert Financial Services Corp. (BHRB) – What Are Researchers Saying About This Stock?

Shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) have been assigned an average rating of “Moderate Buy” from the six research firms that are currently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $76.67.

A number of equities research analysts recently weighed in on BHRB shares. Weiss Ratings upgraded shares of Burke & Herbert Financial Services from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, August 12th. DA Davidson set a $75.00 price objective on shares of Burke & Herbert Financial Services in a report on Monday, July 27th. Wall Street Zen upgraded shares of Burke & Herbert Financial Services from a “sell” rating to a “hold” rating in a research report on Sunday, August 9th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Burke & Herbert Financial Services from $80.00 to $81.00 and gave the company an “outperform” rating in a research note on Friday, July 31st.

Insider Activity

In other news, Director Diane Poillon bought 1,200 shares of the company’s stock in a transaction that occurred on Wednesday, August 12th. The shares were purchased at an average price of $73.67 per share, with a total value of $88,404.00. Following the completion of the acquisition, the director directly owned 4,128 shares in the company, valued at approximately $304,109.76. This trade represents a 40.98% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Shawn Mclaughlin bought 500 shares of the business’s stock in a transaction on Thursday, October 29th. The stock was purchased at an average price of $71.00 per share, with a total value of $35,500.00. Following the completion of the transaction, the director directly owned 71,500 shares of the company’s stock, valued at $5,076,500. This trade represents a 0.70% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased 1,839 shares of company stock worth $133,648 over the last three months. Corporate insiders own 11.99% of the company’s stock.

Institutional Trading of Burke & Herbert Financial Services

A number of hedge funds and other institutional investors have recently modified their holdings of BHRB. BlackRock Inc. acquired a new stake in shares of Burke & Herbert Financial Services in the second quarter valued at $87,556,000. Dimensional Fund Advisors LP grew its holdings in Burke & Herbert Financial Services by 15.7% during the first quarter. Dimensional Fund Advisors LP now owns 367,948 shares of the company’s stock worth $22,919,000 after acquiring an additional 49,957 shares during the period. Bank of New York Mellon Corp bought a new stake in Burke & Herbert Financial Services in the second quarter worth about $7,555,000. Empowered Funds LLC bought a new stake in Burke & Herbert Financial Services in the second quarter worth about $5,140,000. Finally, Pinnacle Holdings LLC acquired a new stake in Burke & Herbert Financial Services in the 2nd quarter valued at about $3,101,000.

Burke & Herbert Financial Services Stock Up 0.0%

Shares of Burke & Herbert Financial Services stock opened at $69.88 on Friday. The business’s fifty day moving average price is $70.24 and its two-hundred day moving average price is $67.64. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84. The company has a market capitalization of $1.41 billion, a P/E ratio of 11.55 and a beta of 0.57. Burke & Herbert Financial Services has a 1-year low of $59.00 and a 1-year high of $75.08.

Burke & Herbert Financial Services (NASDAQ:BHRB) last released its quarterly earnings results on Thursday, October 22nd. The company reported $2.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.09. Burke & Herbert Financial Services had a return on equity of 14.54% and a net margin of 18.43%. The company had revenue of $119.74 million during the quarter, compared to analysts’ expectations of $121.32 million. As a group, research analysts forecast that Burke & Herbert Financial Services will post 8.06 EPS for the current year.

Burke & Herbert Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Friday, November 13th will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Friday, November 13th. Burke & Herbert Financial Services’s dividend payout ratio is currently 36.36%.

Burke & Herbert Financial Services Company Profile

Burke & Herbert Financial Services Corp. is the bank holding company for Burke & Herbert Bank & Trust Company, a community bank headquartered in Alexandria, Virginia. The bank traces its history to 1852 and serves consumers, businesses, nonprofit organizations and government-related entities in the Washington, DC, metropolitan region.

Burke & Herbert Bank provides traditional banking services, including checking and savings accounts, certificates of deposit, consumer loans, residential mortgages, commercial real estate financing and business loans.