Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Receives $71.50 Consensus Price Target from Analysts

Shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) have been assigned an average rating of “Hold” from the five research firms that are presently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $71.50.

A number of research firms have recently weighed in on BHRB. Summit Redstone set a $71.00 price target on Burke & Herbert Financial Services in a report on Thursday, October 9th. DA Davidson cut shares of Burke & Herbert Financial Services from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 20th. Weiss Ratings reissued a “hold (c+)” rating on shares of Burke & Herbert Financial Services in a research note on Monday, December 29th. Finally, Zacks Research raised shares of Burke & Herbert Financial Services from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th.

Insider Activity

In other news, Director Shawn Patrick Mclaughlin bought 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 28th. The shares were purchased at an average price of $61.00 per share, with a total value of $61,000.00. Following the purchase, the director owned 67,000 shares in the company, valued at approximately $4,087,000. The trade was a 1.52% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 10.92% of the company’s stock.

Institutional Trading of Burke & Herbert Financial Services

A number of institutional investors and hedge funds have recently bought and sold shares of BHRB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of 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 valued at $451,000 after purchasing an additional 319 shares during the period. Goldman Sachs Group Inc. boosted its position 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 valued at $4,031,000 after buying an additional 10,117 shares during the period. Jane Street Group LLC purchased a new position in Burke & Herbert Financial Services in the 1st quarter valued at approximately $1,287,000. Wealth Enhancement Advisory Services LLC grew its stake in shares of Burke & Herbert Financial Services by 7.7% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 6,600 shares of the company’s stock worth $422,000 after acquiring an additional 470 shares in the last quarter. Finally, CWM LLC increased its position in shares of Burke & Herbert Financial Services by 732.7% during the second quarter. CWM LLC now owns 841 shares of the company’s stock worth $50,000 after acquiring an additional 740 shares during the period.

Burke & Herbert Financial Services Stock Performance

Burke & Herbert Financial Services stock opened at $63.77 on Friday. The firm has a 50 day simple moving average of $64.14 and a 200-day simple moving average of $62.36. The stock has a market cap of $958.46 million, a price-to-earnings ratio of 9.06 and a beta of 1.02. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.81 and a quick ratio of 0.81. Burke & Herbert Financial Services has a 1-year low of $47.57 and a 1-year high of $70.51.

Burke & Herbert Financial Services (NASDAQ:BHRB) last released its quarterly earnings data on Thursday, October 23rd. The company reported $1.97 EPS for the quarter, beating analysts’ consensus estimates of $1.88 by $0.09. The firm had revenue of $85.36 million for the quarter, compared to analysts’ expectations of $86.40 million. Burke & Herbert Financial Services had a return on equity of 14.95% and a net margin of 21.68%. On average, analysts expect that Burke & Herbert Financial Services will post 8.05 EPS for the current year.

Burke & Herbert Financial Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Friday, November 14th were given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 3.4%. The ex-dividend date was Friday, November 14th. Burke & Herbert Financial Services’s dividend payout ratio (DPR) is currently 31.25%.

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.