Analysts Set Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Target Price at $71.40

Shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) have been assigned a consensus rating of “Moderate Buy” from the seven ratings firms that are currently covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $71.40.

A number of equities analysts have recently weighed in on BHRB shares. Loop Capital set a $74.00 target price on Burke & Herbert Financial Services in a research report on Wednesday, February 25th. Freedom Capital raised Burke & Herbert Financial Services from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 15th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Burke & Herbert Financial Services in a report on Friday, May 8th. DA Davidson reissued a “neutral” rating and issued a $70.00 price target on shares of Burke & Herbert Financial Services in a research report on Monday, April 27th. Finally, Zacks Research lowered Burke & Herbert Financial Services from a “strong-buy” rating to a “hold” rating in a report on Monday, March 2nd.

Insider Buying and Selling at Burke & Herbert Financial Services

In other Burke & Herbert Financial Services news, Director Shawn Patrick Mclaughlin purchased 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 28th. The stock was purchased at an average price of $64.80 per share, for a total transaction of $64,800.00. Following the purchase, the director directly owned 69,000 shares in the company, valued at approximately $4,471,200. This trade represents a 1.47% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Julian Forrest Jr. Barnwell acquired 5,000 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was purchased at an average price of $63.05 per share, for a total transaction of $315,250.00. Following the completion of the acquisition, the director owned 208,939 shares in the company, valued at $13,173,603.95. The trade was a 2.45% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders acquired 12,300 shares of company stock valued at $774,450. Corporate insiders own 10.92% of the company’s stock.

Institutional Investors Weigh In On Burke & Herbert Financial Services

Several large investors have recently added to or reduced their stakes in BHRB. Kestra Advisory Services LLC acquired a new position in Burke & Herbert Financial Services in the fourth quarter valued at approximately $30,000. Aquatic Capital Management LLC purchased a new position in Burke & Herbert Financial Services during the 3rd quarter worth $117,000. Graves Light Lenhart Wealth Inc. purchased a new position in shares of Burke & Herbert Financial Services during the 4th quarter worth approximately $201,000. Tower Research Capital LLC TRC lifted its stake in shares of Burke & Herbert Financial Services by 585.5% in the second quarter. Tower Research Capital LLC TRC now owns 3,393 shares of the company’s stock valued at $203,000 after purchasing an additional 2,898 shares during the period. Finally, Sei Investments Co. purchased a new stake in Burke & Herbert Financial Services during the second quarter worth $204,000.

Burke & Herbert Financial Services Price Performance

BHRB stock opened at $67.08 on Wednesday. The stock has a 50-day moving average price of $63.94 and a two-hundred day moving average price of $64.64. Burke & Herbert Financial Services has a 1 year low of $55.40 and a 1 year high of $70.90. The stock has a market cap of $1.35 billion, a PE ratio of 8.70 and a beta of 0.69. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.10.

Burke & Herbert Financial Services (NASDAQ:BHRB) last posted 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 analysts’ expectations of $86.50 million. Burke & Herbert Financial Services had a return on equity of 14.46% and a net margin of 24.04%. Equities analysts forecast that Burke & Herbert Financial Services will post 8.33 EPS for the current fiscal year.

Burke & Herbert Financial Services Dividend Announcement

The company 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 of this dividend was Friday, May 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.3%. Burke & Herbert Financial Services’s dividend payout ratio is 28.53%.

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.