Burke & Herbert Financial Services (NASDAQ:BHRB) Releases Earnings Results, Beats Estimates By $0.09 EPS

Burke & Herbert Financial Services (NASDAQ:BHRB) announced its quarterly earnings data on Thursday. The company reported $2.14 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.09, FiscalAI reports. The company had revenue of $119.74 million during the quarter, compared to analysts’ expectations of $121.32 million. Burke & Herbert Financial Services had a return on equity of 13.66% and a net margin of 18.86%.

Burke & Herbert Financial Services Stock Performance

Shares of BHRB stock traded up $2.26 on Thursday, reaching $71.73. The stock had a trading volume of 196,413 shares, compared to its average volume of 132,140. Burke & Herbert Financial Services has a 12 month low of $58.01 and a 12 month high of $75.08. The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of 11.50 and a beta of 0.58. The firm’s 50-day moving average is $70.55 and its two-hundred day moving average is $68.34. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13.

Analyst Ratings Changes

Several research firms recently issued reports on BHRB. DA Davidson set a $75.00 target price on Burke & Herbert Financial Services in a report on Monday, July 27th. Weiss Ratings raised Burke & Herbert Financial Services from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, August 12th. Keefe, Bruyette & Woods boosted their price target on Burke & Herbert Financial Services from $80.00 to $81.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Finally, Wall Street Zen upgraded Burke & Herbert Financial Services from a “sell” rating to a “hold” rating in a research note on Sunday, August 9th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $76.67.

Insiders Place Their Bets

In other news, Director James Mason Burke sold 1,500 shares of Burke & Herbert Financial Services stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $73.03, for a total transaction of $109,545.00. Following the completion of the transaction, the director directly owned 258,480 shares in the company, valued at approximately $18,876,794.40. The trade was a 0.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director James P. Geary II sold 3,150 shares of the firm’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $73.93, for a total value of $232,879.50. Following the sale, the director directly owned 9,457 shares of the company’s stock, valued at $699,156.01. This represents a 24.99% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have acquired 1,369 shares of company stock worth $100,747 and have sold 5,650 shares worth $416,094. Company insiders own 11.99% of the company’s stock.

About Burke & Herbert Financial Services

Burke & Herbert Financial Services Corp. is the bank holding company for Burke & Herbert Bank & Trust Company, a community bank headquartered in Alexandria, Virginia. The bank traces its history to 1852 and serves consumers, businesses, nonprofit organizations and government-related entities in the Washington, DC, metropolitan region.

Burke & Herbert Bank provides traditional banking services, including checking and savings accounts, certificates of deposit, consumer loans, residential mortgages, commercial real estate financing and business loans.