Burke & Herbert Financial Services (NASDAQ:BHRB) Price Target Raised to $81.00

Burke & Herbert Financial Services (NASDAQ:BHRB) had its target price upped by stock analysts at Keefe, Bruyette & Woods from $80.00 to $81.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 10.93% from the company’s current price.

Other equities research analysts have also issued reports about the company. Weiss Ratings upgraded Burke & Herbert Financial Services from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, June 29th. Freedom Capital raised Burke & Herbert Financial Services from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 15th. Finally, DA Davidson set a $75.00 target price on Burke & Herbert Financial Services in a report on Monday. One equities 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $75.25.

Burke & Herbert Financial Services Stock Down 0.8%

Shares of NASDAQ:BHRB opened at $73.02 on Friday. The stock’s 50-day moving average price is $68.11 and its two-hundred day moving average price is $65.76. 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 has a 12-month low of $56.11 and a 12-month high of $74.32. The firm has a market cap of $1.47 billion, a price-to-earnings ratio of 11.70 and a beta of 0.58.

Burke & Herbert Financial Services (NASDAQ:BHRB) last issued its quarterly earnings results on Thursday, July 23rd. The company reported $2.03 EPS for the quarter, topping the consensus estimate of $1.98 by $0.05. Burke & Herbert Financial Services had a net margin of 18.86% and a return on equity of 15.11%. The firm had revenue of $106.90 million during the quarter, compared to analyst estimates of $112.86 million. On average, research analysts forecast that Burke & Herbert Financial Services will post 8.19 EPS for the current year.

Insider Transactions at Burke & Herbert Financial Services

In related news, Director Julian Forrest Jr. Barnwell bought 5,000 shares of the stock in a transaction dated Wednesday, June 3rd. The stock was acquired at an average price of $62.76 per share, for a total transaction of $313,800.00. Following the completion of the purchase, the director owned 26,580 shares in the company, valued at $1,668,160.80. This represents a 23.17% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jose David Riojas bought 1,000 shares of the company’s stock in a transaction that occurred on 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 owned 20,000 shares in the company, valued at approximately $1,240,000. This trade represents a 5.26% increase in their position. The SEC filing for this purchase provides additional information. Insiders purchased 11,300 shares of company stock valued at $709,650 over the last quarter. Company insiders own 11.99% of the company’s stock.

Institutional Investors Weigh In On Burke & Herbert Financial Services

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BHRB. Kestra Advisory Services LLC purchased a new position in Burke & Herbert Financial Services in the 4th quarter valued at about $30,000. Aquatic Capital Management LLC purchased a new position in Burke & Herbert Financial Services in the third quarter valued at about $117,000. Stonebridge Financial Group LLC purchased a new position in Burke & Herbert Financial Services in the second quarter valued at about $203,000. Tower Research Capital LLC TRC grew its stake in Burke & Herbert Financial Services by 585.5% during the 2nd 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 in the last quarter. Finally, Sei Investments Co. purchased a new stake in Burke & Herbert Financial Services during the 2nd quarter worth approximately $204,000.

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.