Burke & Herbert Financial Services (NASDAQ:BHRB) Hits New 52-Week High – What’s Next?

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) shares reached a new 52-week high on Friday . The company traded as high as $71.38 and last traded at $71.1050, with a volume of 569646 shares changing hands. The stock had previously closed at $69.68.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on BHRB shares. DA Davidson reissued a “neutral” rating and issued a $70.00 price objective on shares of Burke & Herbert Financial Services in a research note on Monday, April 27th. Zacks Research cut Burke & Herbert Financial Services from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 2nd. Weiss Ratings reissued a “hold (c+)” rating on shares of Burke & Herbert Financial Services in a report on Friday, May 8th. Finally, Freedom Capital upgraded Burke & Herbert Financial Services from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $71.40.

Burke & Herbert Financial Services Trading Up 2.0%

The company has a market cap of $1.43 billion, a P/E ratio of 9.22 and a beta of 0.69. The firm’s 50 day moving average is $64.36 and its two-hundred day moving average is $64.70. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.10.

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

Burke & Herbert Financial Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were paid a $0.55 dividend. The ex-dividend date was Friday, May 15th. This represents a $2.20 annualized dividend and a dividend yield of 3.1%. Burke & Herbert Financial Services’s payout ratio is currently 28.53%.

Insider Activity at Burke & Herbert Financial Services

In related news, Director Jose David Riojas bought 1,000 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were bought at an average price of $62.00 per share, for a total transaction of $62,000.00. Following the completion of the acquisition, the director directly owned 20,000 shares of the company’s stock, valued at $1,240,000. This trade represents a 5.26% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Shawn Patrick Mclaughlin purchased 1,000 shares of the stock in a transaction that occurred on Tuesday, April 28th. The stock was bought at an average cost of $64.80 per share, with a total value of $64,800.00. Following the completion of the transaction, the director directly owned 69,000 shares in the company, valued at $4,471,200. The trade was a 1.47% increase in their position. The SEC filing for this purchase provides additional information. Insiders have bought a total of 12,300 shares of company stock worth $774,450 over the last three months. 11.99% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Burke & Herbert Financial Services

A number of institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE raised its stake in shares of Burke & Herbert Financial Services by 68.3% during the 1st quarter. Bank of America Corp DE now owns 32,188 shares of the company’s stock worth $2,005,000 after purchasing an additional 13,063 shares during the period. Empowered Funds LLC increased its stake in shares of Burke & Herbert Financial Services by 46.1% during the 1st quarter. Empowered Funds LLC now owns 67,280 shares of the company’s stock worth $4,191,000 after purchasing an additional 21,227 shares during the last quarter. Quantinno Capital Management LP raised its stake in shares of Burke & Herbert Financial Services by 13.9% in the first quarter. Quantinno Capital Management LP now owns 9,439 shares of the company’s stock valued at $588,000 after buying an additional 1,150 shares during the period. Sei Investments Co. boosted its position in Burke & Herbert Financial Services by 144.5% during the first quarter. Sei Investments Co. now owns 8,366 shares of the company’s stock worth $521,000 after purchasing an additional 4,944 shares during the period. Finally, First Trust Advisors LP grew its stake in Burke & Herbert Financial Services by 66.9% in the 1st quarter. First Trust Advisors LP now owns 9,897 shares of the company’s stock valued at $616,000 after buying an additional 3,966 shares in the last quarter.

Burke & Herbert Financial Services Company Profile

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.