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

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) has received an average recommendation of “Moderate Buy” from the five analysts that are currently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $71.50.

Several research analysts have recently issued reports on BHRB shares. Summit Redstone set a $71.00 target price on shares of Burke & Herbert Financial Services in a research note on Thursday, October 9th. DA Davidson lowered shares of Burke & Herbert Financial Services from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. Zacks Research raised shares of Burke & Herbert Financial Services from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 30th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Burke & Herbert Financial Services in a research report on Monday, December 29th.

Burke & Herbert Financial Services Stock Up 1.5%

NASDAQ BHRB opened at $68.97 on Thursday. The stock has a market capitalization of $1.04 billion, a P/E ratio of 8.93 and a beta of 1.02. Burke & Herbert Financial Services has a 52 week low of $47.57 and a 52 week high of $70.51. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a fifty day moving average of $65.26 and a 200-day moving average of $62.58.

Burke & Herbert Financial Services (NASDAQ:BHRB) last posted its quarterly earnings results on Thursday, January 22nd. The company reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.91 by $0.07. The business had revenue of $86.56 million for the quarter, compared to analysts’ expectations of $80.72 million. Burke & Herbert Financial Services had a return on equity of 15.11% and a net margin of 23.89%. On average, equities research analysts forecast that Burke & Herbert Financial Services will post 8.05 EPS for the current year.

Burke & Herbert Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Friday, February 13th will be issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Friday, February 13th. Burke & Herbert Financial Services’s dividend payout ratio is currently 28.50%.

Hedge Funds Weigh In On Burke & Herbert Financial Services

Institutional investors have recently modified their holdings of the stock. Alliance Wealth Strategies LLC d b a Brown Edwards Wealth Strategies bought a new stake in shares of Burke & Herbert Financial Services in the 4th quarter valued at about $563,000. Vanguard Group Inc. grew its holdings in Burke & Herbert Financial Services by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 779,800 shares of the company’s stock valued at $48,589,000 after purchasing an additional 14,358 shares during the period. CWM LLC grew its holdings in Burke & Herbert Financial Services by 17.3% during the fourth quarter. CWM LLC now owns 5,128 shares of the company’s stock valued at $320,000 after purchasing an additional 758 shares during the period. Graves Light Lenhart Wealth Inc. bought a new stake in Burke & Herbert Financial Services in the fourth quarter valued at approximately $201,000. Finally, JPMorgan Chase & Co. raised its holdings in Burke & Herbert Financial Services by 11.5% in the third quarter. JPMorgan Chase & Co. now owns 55,184 shares of the company’s stock worth $3,404,000 after purchasing an additional 5,673 shares during the period.

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.