Burke & Herbert Financial Services (NASDAQ:BHRB) Stock Rating Upgraded by Wall Street Zen

Burke & Herbert Financial Services (NASDAQ:BHRB) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Sunday.

Other equities research analysts have also recently issued reports about the company. Freedom Capital upgraded Burke & Herbert Financial Services from a “hold” rating to a “strong-buy” rating in a report on Friday, May 15th. Keefe, Bruyette & Woods boosted their price objective on Burke & Herbert Financial Services from $80.00 to $81.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. DA Davidson set a $75.00 price objective on Burke & Herbert Financial Services in a research note on Monday, July 27th. Finally, Weiss Ratings upgraded shares of Burke & Herbert Financial Services from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, June 29th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Burke & Herbert Financial Services presently has a consensus rating of “Moderate Buy” and a consensus target price of $75.25.

Burke & Herbert Financial Services Stock Performance

Burke & Herbert Financial Services stock opened at $72.73 on Friday. The firm has a fifty day simple moving average of $69.58 and a two-hundred day simple moving average of $66.23. 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 has a twelve month low of $57.00 and a twelve month high of $75.08. The company has a market capitalization of $1.47 billion, a PE ratio of 11.66 and a beta of 0.57.

Burke & Herbert Financial Services (NASDAQ:BHRB) last announced its quarterly earnings data on Thursday, July 23rd. The company reported $2.03 earnings per share (EPS) for the quarter, beating 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 return on equity of 15.11% and a net margin of 18.86%. Research analysts expect that Burke & Herbert Financial Services will post 8.19 EPS for the current year.

Insiders Place Their Bets

In other Burke & Herbert Financial Services news, Director James P. Geary II sold 3,150 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $73.93, for a total transaction of $232,879.50. Following the completion of the transaction, the director owned 9,457 shares of the company’s stock, valued at $699,156.01. This represents a 24.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Georgette R. George sold 1,000 shares of the stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $73.67, for a total value of $73,670.00. Following the completion of the sale, the director owned 38,321 shares of the company’s stock, valued at approximately $2,823,108.07. This trade represents a 2.54% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders purchased 5,134 shares of company stock valued at $323,673 and sold 5,262 shares valued at $376,939. 11.99% of the stock is owned by insiders.

Hedge Funds Weigh In On Burke & Herbert Financial Services

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Quantbot Technologies LP grew its stake in Burke & Herbert Financial Services by 8.1% in the second quarter. Quantbot Technologies LP now owns 3,897 shares of the company’s stock worth $233,000 after purchasing an additional 292 shares during the period. Rhumbline Advisers increased its stake in shares of Burke & Herbert Financial Services by 1.7% in the 2nd quarter. Rhumbline Advisers now owns 17,961 shares of the company’s stock worth $1,073,000 after acquiring an additional 298 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Burke & Herbert Financial Services by 4.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,030 shares of the company’s stock valued at $451,000 after acquiring an additional 319 shares during the period. Kestra Advisory Services LLC purchased a new position in Burke & Herbert Financial Services during the 4th quarter valued at about $30,000. Finally, Swiss National Bank boosted its stake in Burke & Herbert Financial Services by 1.9% during the fourth quarter. Swiss National Bank now owns 26,600 shares of the company’s stock worth $1,657,000 after acquiring an additional 500 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.