Burke & Herbert Financial Services (NASDAQ:BHRB) Cut to “Sell” at Wall Street Zen

Wall Street Zen cut shares of Burke & Herbert Financial Services (NASDAQ:BHRB) from a hold rating to a sell rating in a research note issued to investors on Saturday morning.

Several other research analysts have also issued reports on the company. Freedom Capital raised Burke & Herbert Financial Services from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 15th. Weiss Ratings raised Burke & Herbert Financial Services from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, June 29th. Keefe, Bruyette & Woods increased their price objective on Burke & Herbert Financial Services from $80.00 to $81.00 and gave the stock an “outperform” rating in a report on Friday. Finally, DA Davidson set a $75.00 target price on shares of Burke & Herbert Financial Services in a report on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Burke & Herbert Financial Services currently has an average rating of “Moderate Buy” and a consensus target price of $75.25.

Burke & Herbert Financial Services Price Performance

Shares of NASDAQ BHRB opened at $73.65 on Friday. Burke & Herbert Financial Services has a 1 year low of $56.11 and a 1 year high of $74.78. The stock has a market capitalization of $1.48 billion, a P/E ratio of 11.80 and a beta of 0.57. The company’s 50-day moving average is $68.53 and its 200 day moving average is $65.90. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.78 and a quick ratio of 0.78.

Burke & Herbert Financial Services (NASDAQ:BHRB) last issued its quarterly earnings data on Thursday, July 23rd. The company reported $2.03 EPS for the quarter, topping the consensus estimate of $1.98 by $0.05. The business had revenue of $106.90 million during the quarter, compared to analyst estimates of $112.86 million. Burke & Herbert Financial Services had a net margin of 18.86% and a return on equity of 15.11%. On average, sell-side analysts expect that Burke & Herbert Financial Services will post 8.19 earnings per share for the current year.

Burke & Herbert Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 14th will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Friday, August 14th. Burke & Herbert Financial Services’s dividend payout ratio (DPR) is 35.26%.

Insider Buying and Selling at Burke & Herbert Financial Services

In related news, Director Jose David Riojas bought 1,000 shares of the company’s stock in a transaction on Tuesday, May 12th. The shares were acquired at an average cost of $62.00 per share, with a total value of $62,000.00. Following the completion of the acquisition, the director owned 20,000 shares of the company’s stock, valued at $1,240,000. The trade was a 5.26% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Julian Forrest Jr. Barnwell bought 5,000 shares of the business’s 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 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 position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders purchased 11,300 shares of company stock worth $709,650. 11.99% of the stock is owned by insiders.

Institutional Trading of Burke & Herbert Financial Services

A number of institutional investors and hedge funds have recently bought and sold shares of BHRB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position 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. Goldman Sachs Group Inc. boosted its stake in Burke & Herbert Financial Services by 16.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 71,849 shares of the company’s stock valued at $4,031,000 after purchasing an additional 10,117 shares during the last quarter. Jane Street Group LLC purchased a new stake in Burke & Herbert Financial Services during the 1st quarter valued at $1,287,000. JPMorgan Chase & Co. increased its holdings in shares of Burke & Herbert Financial Services by 32.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 49,511 shares of the company’s stock worth $2,957,000 after purchasing an additional 12,057 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of Burke & Herbert Financial Services by 4.2% in the 2nd quarter. Legal & General Group Plc now owns 13,389 shares of the company’s stock worth $798,000 after purchasing 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.