Burke & Herbert Financial Services (NASDAQ:BHRB) Hits New 52-Week High – Time to Buy?

Shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $73.32 and last traded at $72.76, with a volume of 231549 shares trading hands. The stock had previously closed at $71.86.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on BHRB shares. Weiss Ratings upgraded Burke & Herbert Financial Services from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday. DA Davidson reiterated a “neutral” rating and set a $70.00 price target on shares of Burke & Herbert Financial Services in a report on Monday, April 27th. 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. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Burke & Herbert Financial Services has an average rating of “Moderate Buy” and an average target price of $71.40.

Burke & Herbert Financial Services Stock Performance

The firm has a 50-day simple moving average of $64.85 and a two-hundred day simple moving average of $64.81. 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 company has a market capitalization of $1.47 billion, a price-to-earnings ratio of 9.44 and a beta of 0.57.

Burke & Herbert Financial Services (NASDAQ:BHRB) last announced its quarterly earnings results on Thursday, April 23rd. The company reported $1.87 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.87. The business had revenue of $84.70 million during the quarter, compared to analyst estimates of $86.50 million. Burke & Herbert Financial Services had a return on equity of 14.46% and a net margin of 24.04%. As a group, sell-side analysts forecast that Burke & Herbert Financial Services Corp. will post 8.33 earnings per share for the current fiscal year.

Burke & Herbert Financial Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 15th were given a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Friday, May 15th. Burke & Herbert Financial Services’s payout ratio is currently 28.53%.

Insider Buying and Selling at Burke & Herbert Financial Services

In other Burke & Herbert Financial Services news, Director Jill S. Upson sold 1,112 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $63.30, for a total transaction of $70,389.60. Following the transaction, the director directly owned 2,000 shares in the company, valued at $126,600. This trade represents a 35.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jose David Riojas purchased 1,000 shares of Burke & Herbert Financial Services stock in a transaction on Tuesday, May 12th. The stock was bought at an average cost of $62.00 per share, with a total value of $62,000.00. Following the transaction, the director directly owned 20,000 shares of the company’s stock, valued at approximately $1,240,000. The trade was a 5.26% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 12,300 shares of company stock worth $774,450 over the last quarter. Company insiders own 11.99% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in BHRB. Kestra Advisory Services LLC bought a new position in shares of Burke & Herbert Financial Services in the 4th quarter valued at approximately $30,000. Aquatic Capital Management LLC acquired a new position in Burke & Herbert Financial Services during the third quarter valued at approximately $117,000. Graves Light Lenhart Wealth Inc. acquired a new position in Burke & Herbert Financial Services during the fourth quarter valued at approximately $201,000. Tower Research Capital LLC TRC raised its position in shares of Burke & Herbert Financial Services by 585.5% in the second quarter. Tower Research Capital LLC TRC now owns 3,393 shares of the company’s stock valued at $203,000 after purchasing an additional 2,898 shares during the period. Finally, Sei Investments Co. bought a new position in shares of Burke & Herbert Financial Services in the second quarter valued at approximately $204,000.

About Burke & Herbert Financial Services

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.