Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Stock Now Rated “Moderate Buy” by Wall Street Analysts

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) has received an average recommendation of “Moderate Buy” from the six brokerages that are currently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $76.67.

A number of brokerages have recently commented on BHRB. Weiss Ratings upgraded Burke & Herbert Financial Services from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, August 12th. Wall Street Zen upgraded Burke & Herbert Financial Services from a “sell” rating to a “hold” rating in a report on Sunday, August 9th. DA Davidson set a $75.00 target price on Burke & Herbert Financial Services in a report on Monday, July 27th. Finally, Keefe, Bruyette & Woods boosted their target price 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.

Insider Buying and Selling

In other Burke & Herbert Financial Services news, Director James Mason Burke sold 1,500 shares of the company’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $73.03, for a total transaction of $109,545.00. Following the completion of the sale, the director directly owned 258,480 shares of the company’s stock, valued at approximately $18,876,794.40. This represents a 0.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Shawn Mclaughlin acquired 500 shares of Burke & Herbert Financial Services stock in a transaction on Thursday, October 29th. The shares were purchased at an average cost of $71.00 per share, with a total value of $35,500.00. Following the completion of the purchase, the director directly owned 71,500 shares of the company’s stock, valued at approximately $5,076,500. This represents a 0.70% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have purchased 1,839 shares of company stock valued at $133,648. 11.99% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Burke & Herbert Financial Services

A number of large investors have recently made changes to their positions in BHRB. State of Alaska Department of Revenue lifted its position in shares of Burke & Herbert Financial Services by 33.3% in the 3rd quarter. State of Alaska Department of Revenue now owns 808 shares of the company’s stock valued at $55,000 after acquiring an additional 202 shares in the last quarter. Signaturefd LLC boosted its stake in Burke & Herbert Financial Services by 2,636.4% in the 3rd quarter. Signaturefd LLC now owns 1,505 shares of the company’s stock worth $103,000 after purchasing an additional 1,450 shares during the period. Stonebridge Financial Group LLC purchased a new position in Burke & Herbert Financial Services during the 2nd quarter worth approximately $203,000. The Manufacturers Life Insurance Company purchased a new position in Burke & Herbert Financial Services during the 2nd quarter worth approximately $291,000. Finally, Canton Hathaway LLC purchased a new position in Burke & Herbert Financial Services during the 3rd quarter worth approximately $305,000.

Burke & Herbert Financial Services Trading Up 0.0%

Shares of NASDAQ:BHRB opened at $69.88 on Friday. The stock has a market capitalization of $1.41 billion, a price-to-earnings ratio of 11.55 and a beta of 0.57. Burke & Herbert Financial Services has a 1-year low of $59.00 and a 1-year high of $75.08. 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 50 day moving average price of $70.24 and a 200 day moving average price of $67.64.

Burke & Herbert Financial Services (NASDAQ:BHRB) last posted its quarterly earnings results on Thursday, October 22nd. The company reported $2.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.05 by $0.09. The company had revenue of $119.74 million for the quarter, compared to analysts’ expectations of $121.32 million. Burke & Herbert Financial Services had a return on equity of 14.54% and a net margin of 18.43%. On average, research analysts anticipate that Burke & Herbert Financial Services will post 8.06 EPS for the current fiscal year.

Burke & Herbert Financial Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Friday, November 13th will be given a $0.55 dividend. The ex-dividend date is Friday, November 13th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.1%. Burke & Herbert Financial Services’s dividend payout ratio (DPR) is 36.36%.

Burke & Herbert Financial Services Company Profile

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.