Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Receives Average Rating of “Moderate Buy” from Analysts

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) has earned a consensus rating of “Moderate Buy” from the six analysts that are presently covering the firm, Marketbeat reports. Three 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 analysts that have covered the stock in the last year is $75.25.

A number of analysts have issued reports on BHRB shares. Freedom Capital raised Burke & Herbert Financial Services from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 15th. Weiss Ratings raised shares of Burke & Herbert Financial Services from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, August 12th. Keefe, Bruyette & Woods increased their price objective on shares of Burke & Herbert Financial Services from $80.00 to $81.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Wall Street Zen raised shares of Burke & Herbert Financial Services from a “sell” rating to a “hold” rating in a research report on Sunday, August 9th. Finally, DA Davidson set a $75.00 target price on shares of Burke & Herbert Financial Services in a report on Monday, July 27th.

Insider Activity at Burke & Herbert Financial Services

In other news, Director Diane Poillon bought 1,200 shares of Burke & Herbert Financial Services stock in a transaction that occurred on Wednesday, August 12th. The shares were purchased at an average price of $73.67 per share, for a total transaction of $88,404.00. Following the completion of the acquisition, the director owned 4,128 shares of the company’s stock, valued at $304,109.76. The trade was a 40.98% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Julian Forrest Jr. Barnwell purchased 5,000 shares of the stock in a transaction on Wednesday, June 3rd. The shares were purchased at an average cost of $62.76 per share, with a total value of $313,800.00. Following the transaction, the director owned 26,580 shares of the company’s stock, valued at $1,668,160.80. This trade represents a 23.17% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders bought 6,369 shares of company stock worth $414,547 and sold 5,650 shares worth $416,094. 11.99% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Burke & Herbert Financial Services

Several hedge funds and other institutional investors have recently modified their holdings of the company. Endeavour Capital Advisors Inc. boosted its position in Burke & Herbert Financial Services by 22.0% during the 4th quarter. Endeavour Capital Advisors Inc. now owns 125,323 shares of the company’s stock worth $7,809,000 after purchasing an additional 22,601 shares during the period. Principal Financial Group Inc. purchased a new stake in shares of Burke & Herbert Financial Services in the first quarter worth about $1,038,000. Dimensional Fund Advisors LP raised its holdings in shares of Burke & Herbert Financial Services by 15.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 367,948 shares of the company’s stock valued at $22,919,000 after buying an additional 49,957 shares during the period. Pinnacle Holdings LLC purchased a new stake in shares of Burke & Herbert Financial Services during the 2nd quarter valued at about $3,101,000. Finally, Vanguard Group Inc. lifted its position in Burke & Herbert Financial Services by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 779,800 shares of the company’s stock worth $48,589,000 after acquiring an additional 14,358 shares in the last quarter.

Burke & Herbert Financial Services Trading Up 1.6%

Shares of BHRB opened at $72.70 on Tuesday. The stock has a fifty day moving average of $71.06 and a two-hundred day moving average of $66.73. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84. The company has a market capitalization of $1.47 billion, a PE ratio of 11.65 and a beta of 0.57. Burke & Herbert Financial Services has a fifty-two week low of $57.42 and a fifty-two week high of $75.08.

Burke & Herbert Financial Services (NASDAQ:BHRB) last announced its quarterly earnings data on Thursday, July 23rd. The company reported $2.03 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $0.05. The business had revenue of $106.89 million during the quarter, compared to the consensus estimate of $112.86 million. Burke & Herbert Financial Services had a return on equity of 13.66% and a net margin of 18.86%. As a group, analysts forecast that Burke & Herbert Financial Services will post 8.19 EPS for the current year.

Burke & Herbert Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Friday, August 14th. Burke & Herbert Financial Services’s dividend payout ratio (DPR) is 35.26%.

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.