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

Shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) have earned an average rating of “Moderate Buy” from the seven brokerages that are presently covering the stock, Marketbeat Ratings reports. Four research 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 twelve-month target price among brokerages that have covered the stock in the last year is $71.40.

Several research analysts have commented on the company. DA Davidson reissued a “neutral” rating and issued a $70.00 price objective on shares of Burke & Herbert Financial Services in a research report on Monday, April 27th. Weiss Ratings reissued a “hold (c+)” rating on shares of Burke & Herbert Financial Services in a research report on Friday, May 8th. Citigroup lowered Burke & Herbert Financial Services to a “hold” rating in a research report on Wednesday, February 25th. Loop Capital set a $74.00 price objective on Burke & Herbert Financial Services in a research report on Wednesday, February 25th. Finally, Freedom Capital raised Burke & Herbert Financial Services from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 15th.

Burke & Herbert Financial Services Trading Up 2.1%

Shares of BHRB opened at $63.20 on Friday. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $1.27 billion, a P/E ratio of 8.20 and a beta of 0.74. The stock’s fifty day simple moving average is $63.16 and its 200 day simple moving average is $64.27. Burke & Herbert Financial Services has a twelve month low of $54.45 and a twelve month high of $70.90.

Burke & Herbert Financial Services (NASDAQ:BHRB) last issued its earnings results on Thursday, April 23rd. The company reported $1.87 earnings per share for the quarter, hitting the consensus estimate of $1.87. Burke & Herbert Financial Services had a return on equity of 14.46% and a net margin of 24.04%.The business had revenue of $84.70 million for the quarter, compared to analyst estimates of $86.50 million. On average, equities research analysts forecast that Burke & Herbert Financial Services will post 8.33 earnings per share for the current year.

Burke & Herbert Financial Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 15th will be given a $0.55 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $2.20 annualized dividend and a yield of 3.5%. Burke & Herbert Financial Services’s dividend payout ratio (DPR) is 28.53%.

Insider Activity

In other Burke & Herbert Financial Services news, Director Julian Forrest Jr. Barnwell bought 5,000 shares of the stock in a transaction dated Monday, May 11th. The stock was bought at an average cost of $63.05 per share, for a total transaction of $315,250.00. Following the completion of the purchase, the director directly owned 208,939 shares of the company’s stock, valued at approximately $13,173,603.95. The trade was a 2.45% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Shawn Patrick Mclaughlin bought 1,000 shares of the stock in a transaction dated Tuesday, April 28th. The shares were acquired at an average price of $64.80 per share, with a total value of $64,800.00. Following the completion of the purchase, the director directly owned 69,000 shares of the company’s stock, valued at approximately $4,471,200. This represents a 1.47% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired 7,300 shares of company stock worth $460,650 over the last ninety days. Corporate insiders own 10.92% of the company’s stock.

Institutional Trading of Burke & Herbert Financial Services

Several large investors have recently modified their holdings of the business. Quantbot Technologies LP grew its stake in shares of Burke & Herbert Financial Services by 8.1% during the second quarter. Quantbot Technologies LP now owns 3,897 shares of the company’s stock valued at $233,000 after acquiring an additional 292 shares in the last quarter. Rhumbline Advisers grew its stake in shares of Burke & Herbert Financial Services by 1.7% during the second quarter. Rhumbline Advisers now owns 17,961 shares of the company’s stock valued at $1,073,000 after acquiring an additional 298 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Burke & Herbert Financial Services by 4.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,030 shares of the company’s stock valued at $451,000 after acquiring an additional 319 shares in the last quarter. EJF Capital LLC grew its stake in shares of Burke & Herbert Financial Services by 0.9% during the third quarter. EJF Capital LLC now owns 49,850 shares of the company’s stock valued at $3,075,000 after acquiring an additional 448 shares in the last quarter. Finally, Kestra Advisory Services LLC acquired a new stake in shares of Burke & Herbert Financial Services during the fourth quarter valued at about $30,000.

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.