Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Given Average Rating of “Moderate Buy” by Analysts

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) has been assigned an average recommendation of “Moderate Buy” from the six research firms that are covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $75.25.

BHRB has been the topic of a number of recent research reports. Wall Street Zen lowered shares of Burke & Herbert Financial Services from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. Freedom Capital raised shares of Burke & Herbert Financial Services from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 15th. DA Davidson set a $75.00 target price on shares of Burke & Herbert Financial Services in a report on Monday, July 27th. Keefe, Bruyette & Woods raised their price target on shares of Burke & Herbert Financial Services from $80.00 to $81.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. Finally, Weiss Ratings upgraded Burke & Herbert Financial Services from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, June 29th.

Insider Activity at Burke & Herbert Financial Services

In other Burke & Herbert Financial Services news, Director James P. Geary II sold 3,150 shares of the firm’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $73.93, for a total transaction of $232,879.50. Following the transaction, the director directly owned 9,457 shares in the company, valued at approximately $699,156.01. This trade represents a 24.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Georgette R. George sold 1,000 shares of the firm’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $73.67, for a total value of $73,670.00. Following the transaction, the director owned 38,321 shares in the company, valued at approximately $2,823,108.07. This trade represents a 2.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have bought 11,434 shares of company stock valued at $719,523 and have sold 5,262 shares valued at $376,939. Corporate insiders own 11.99% of the company’s stock.

Institutional Trading of Burke & Herbert Financial Services

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

Burke & Herbert Financial Services Price Performance

Shares of NASDAQ:BHRB opened at $73.76 on Friday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.10. Burke & Herbert Financial Services has a twelve month low of $56.39 and a twelve month high of $75.08. The stock’s 50 day moving average is $69.19 and its 200-day moving average is $66.10. The firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of 11.82 and a beta of 0.57.

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

Burke & Herbert Financial Services Announces Dividend

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

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.