Burke & Herbert Financial Services (NASDAQ:BHRB) Upgraded to Outperform at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods upgraded shares of Burke & Herbert Financial Services (NASDAQ:BHRB) from a market perform rating to an outperform rating in a research report report published on Monday morning, Marketbeat.com reports. They currently have $76.00 price objective on the stock, down from their prior price objective of $79.00.

Separately, DA Davidson started coverage on Burke & Herbert Financial Services in a research report on Wednesday, October 16th. They issued a “buy” rating and a $76.00 price target for the company.

Burke & Herbert Financial Services Trading Up 0.8 %

Shares of Burke & Herbert Financial Services stock opened at $63.67 on Monday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.83 and a current ratio of 0.83. Burke & Herbert Financial Services has a twelve month low of $46.00 and a twelve month high of $75.32. The company’s 50 day moving average is $64.88 and its 200 day moving average is $63.93.

Burke & Herbert Financial Services (NASDAQ:BHRB) last announced its earnings results on Friday, January 24th. The company reported $1.77 EPS for the quarter, hitting analysts’ consensus estimates of $1.77. Burke & Herbert Financial Services had a return on equity of 12.83% and a net margin of 6.55%. Research analysts predict that Burke & Herbert Financial Services will post 6.9 EPS for the current fiscal year.

Burke & Herbert Financial Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date of this dividend is Friday, February 14th.

Insider Buying and Selling at Burke & Herbert Financial Services

In other news, Director Shawn Patrick Mclaughlin purchased 555 shares of the stock in a transaction on Monday, December 9th. The stock was bought at an average price of $69.35 per share, with a total value of $38,489.25. Following the transaction, the director now owns 61,000 shares in the company, valued at $4,230,350. The trade was a 0.92 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gary L. Hinkle acquired 3,652 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were purchased at an average cost of $68.56 per share, for a total transaction of $250,381.12. Following the purchase, the director now directly owns 236,807 shares in the company, valued at approximately $16,235,487.92. This trade represents a 1.57 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 8,950 shares of company stock worth $614,711 over the last quarter. Insiders own 9.65% of the company’s stock.

Institutional Investors Weigh In On Burke & Herbert Financial Services

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Quadrature Capital Ltd grew its position in Burke & Herbert Financial Services by 4.8% in the third quarter. Quadrature Capital Ltd now owns 12,309 shares of the company’s stock worth $750,000 after acquiring an additional 566 shares during the period. Jane Street Group LLC increased its position in shares of Burke & Herbert Financial Services by 6.9% during the third quarter. Jane Street Group LLC now owns 18,772 shares of the company’s stock worth $1,145,000 after acquiring an additional 1,218 shares during the period. Quantbot Technologies LP purchased a new stake in Burke & Herbert Financial Services during the 3rd quarter worth about $118,000. SG Americas Securities LLC grew its position in shares of Burke & Herbert Financial Services by 49.8% during the fourth quarter. SG Americas Securities LLC now owns 7,591 shares of the company’s stock worth $473,000 after buying an additional 2,524 shares in the last quarter. Finally, Truist Financial Corp purchased a new stake in shares of Burke & Herbert Financial Services during the second quarter worth approximately $202,000.

Burke & Herbert Financial Services Company Profile

Burke Herbert Financial Services Corp. is a bank holding company, which engages in the provision of banking products and financial services to small to medium-sized businesses, their owners and employees, professional corporations, non-profits, and individuals. It operates through the following loan portfolio segments: Commercial Real Estate, Owner-Occupied Commercial Real Estate, Acquisition, Construction, and Development, Commercial and Industrial, Single Family Residential (1-4 Units), and Consumer Non-Real Estate and Other.