Burke & Herbert Financial Services (NASDAQ:BHRB) Research Coverage Started at DA Davidson

DA Davidson started coverage on shares of Burke & Herbert Financial Services (NASDAQ:BHRB) in a report released on Wednesday morning, Marketbeat.com reports. The brokerage issued a neutral rating and a $75.00 price objective on the stock.

Several other equities research analysts have also weighed in on BHRB. Zacks Research upgraded Burke & Herbert Financial Services from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 30th. Weiss Ratings restated a “hold (c+)” rating on shares of Burke & Herbert Financial Services in a report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Burke & Herbert Financial Services has a consensus rating of “Moderate Buy” and a consensus target price of $72.40.

Burke & Herbert Financial Services Trading Down 3.6%

Shares of BHRB opened at $64.44 on Wednesday. Burke & Herbert Financial Services has a 1-year low of $47.57 and a 1-year high of $70.90. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.11. The firm’s 50-day moving average price is $65.37 and its 200-day moving average price is $63.50. The firm has a market capitalization of $968.53 million, a price-to-earnings ratio of 8.35 and a beta of 1.02.

Burke & Herbert Financial Services (NASDAQ:BHRB) last issued its quarterly earnings data on Thursday, January 22nd. The company reported $1.98 EPS for the quarter, topping the consensus estimate of $1.91 by $0.07. The business had revenue of $86.56 million during the quarter, compared to analyst estimates of $80.72 million. Burke & Herbert Financial Services had a net margin of 23.89% and a return on equity of 15.11%. Sell-side analysts anticipate that Burke & Herbert Financial Services will post 8.05 EPS for the current year.

Burke & Herbert Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Friday, February 13th will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend is Friday, February 13th. Burke & Herbert Financial Services’s payout ratio is currently 28.50%.

Institutional Trading of Burke & Herbert Financial Services

Institutional investors have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Burke & Herbert Financial Services by 4.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,030 shares of the company’s stock worth $451,000 after buying an additional 319 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Burke & Herbert Financial Services by 16.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 71,849 shares of the company’s stock worth $4,031,000 after acquiring an additional 10,117 shares during the last quarter. Jane Street Group LLC purchased a new position in Burke & Herbert Financial Services in the 1st quarter worth approximately $1,287,000. CWM LLC lifted its position in Burke & Herbert Financial Services by 732.7% in the 2nd quarter. CWM LLC now owns 841 shares of the company’s stock valued at $50,000 after acquiring an additional 740 shares in the last quarter. Finally, AlphaQuest LLC boosted its stake in Burke & Herbert Financial Services by 49.7% during the 2nd quarter. AlphaQuest LLC now owns 6,888 shares of the company’s stock valued at $411,000 after purchasing an additional 2,287 shares during 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.