Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) have been given a consensus recommendation of “Hold” by the seven ratings firms that are covering the company, Marketbeat reports. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $72.40.

A number of research analysts have recently weighed in on the company. Freedom Capital lowered Burke & Herbert Financial Services from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 25th. Weiss Ratings restated a “hold (c+)” rating on shares of Burke & Herbert Financial Services in a research report on Monday, December 29th. Loop Capital set a $74.00 price objective on Burke & Herbert Financial Services in a research report on Wednesday, February 25th. Citigroup lowered Burke & Herbert Financial Services to a “hold” rating in a research report on Wednesday, February 25th. Finally, Zacks Research lowered Burke & Herbert Financial Services from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 2nd.

Burke & Herbert Financial Services Trading Down 0.0%

Shares of Burke & Herbert Financial Services stock opened at $66.23 on Tuesday. The firm has a market cap of $996.10 million, a price-to-earnings ratio of 8.58 and a beta of 0.98. The business has a 50-day moving average price of $64.46 and a 200-day moving average price of $63.82. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.10. Burke & Herbert Financial Services has a twelve month low of $48.73 and a twelve month high of $70.90.

Burke & Herbert Financial Services (NASDAQ:BHRB) last issued its quarterly earnings data on Thursday, January 22nd. The company reported $1.98 earnings per share for the quarter, beating analysts’ consensus estimates of $1.91 by $0.07. The firm had revenue of $86.56 million during the quarter, compared to analyst estimates of $80.72 million. Burke & Herbert Financial Services had a return on equity of 14.79% and a net margin of 23.89%. Equities research analysts anticipate that Burke & Herbert Financial Services will post 8.15 EPS for the current fiscal year.

Burke & Herbert Financial Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Friday, February 13th were given a dividend of $0.55 per share. The ex-dividend date was Friday, February 13th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.3%. Burke & Herbert Financial Services’s dividend payout ratio (DPR) is presently 28.50%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in 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 worth $451,000 after acquiring an additional 319 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Burke & Herbert Financial Services by 16.4% in the first quarter. Goldman Sachs Group Inc. now owns 71,849 shares of the company’s stock worth $4,031,000 after acquiring an additional 10,117 shares in the last quarter. Jane Street Group LLC purchased a new position in Burke & Herbert Financial Services in the first quarter worth about $1,287,000. JPMorgan Chase & Co. grew its position in Burke & Herbert Financial Services by 32.2% in the second quarter. JPMorgan Chase & Co. now owns 49,511 shares of the company’s stock worth $2,957,000 after acquiring an additional 12,057 shares in the last quarter. Finally, Legal & General Group Plc grew its position in Burke & Herbert Financial Services by 4.2% in the second quarter. Legal & General Group Plc now owns 13,389 shares of the company’s stock worth $798,000 after acquiring an additional 538 shares in the last quarter.

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.