Burke & Herbert Financial Services (NASDAQ:BHRB) Shares Gap Down – What’s Next?

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $66.95, but opened at $63.87. Burke & Herbert Financial Services shares last traded at $64.08, with a volume of 6,050 shares.

Analyst Ratings Changes

A number of brokerages recently weighed in on BHRB. Weiss Ratings restated a “hold (c+)” rating on shares of Burke & Herbert Financial Services in a research report on Monday, December 29th. Summit Redstone set a $71.00 price objective on Burke & Herbert Financial Services in a research note on Thursday, October 9th. Zacks Research raised Burke & Herbert Financial Services from a “strong sell” rating to a “hold” rating in a research note on Monday, September 29th. Finally, DA Davidson cut Burke & Herbert Financial Services from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $71.50.

Burke & Herbert Financial Services Price Performance

The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.11. The business’s fifty day moving average is $64.70 and its 200 day moving average is $62.48. The company has a market cap of $958.61 million, a P/E ratio of 8.27 and a beta of 1.02.

Burke & Herbert Financial Services (NASDAQ:BHRB) last released its earnings results on Thursday, January 22nd. The company reported $1.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.91 by $0.07. Burke & Herbert Financial Services had a return on equity of 15.11% and a net margin of 23.89%.The business had revenue of $86.56 million during the quarter, compared to the consensus estimate of $80.72 million. As a group, sell-side analysts anticipate that Burke & Herbert Financial Services Corp. will post 8.05 EPS for the current year.

Burke & Herbert Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Friday, February 13th will be paid a $0.55 dividend. The ex-dividend date is Friday, February 13th. This represents a $2.20 annualized dividend and a dividend yield of 3.4%. Burke & Herbert Financial Services’s dividend payout ratio (DPR) is presently 28.50%.

Insider Activity at Burke & Herbert Financial Services

In other Burke & Herbert Financial Services news, Director Shawn Patrick Mclaughlin acquired 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 28th. The stock was bought at an average cost of $61.00 per share, with a total value of $61,000.00. Following the acquisition, the director owned 67,000 shares in the company, valued at approximately $4,087,000. This represents a 1.52% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 10.92% of the company’s stock.

Hedge Funds Weigh In On Burke & Herbert Financial Services

A number of large investors have recently made changes to their positions in the stock. CWM LLC raised its stake in shares of Burke & Herbert Financial Services by 17.3% during the 4th quarter. CWM LLC now owns 5,128 shares of the company’s stock valued at $320,000 after purchasing an additional 758 shares during the period. Graves Light Lenhart Wealth Inc. purchased a new stake in shares of Burke & Herbert Financial Services in the fourth quarter worth about $201,000. JPMorgan Chase & Co. boosted its position in shares of Burke & Herbert Financial Services by 11.5% in the third quarter. JPMorgan Chase & Co. now owns 55,184 shares of the company’s stock valued at $3,404,000 after acquiring an additional 5,673 shares during the period. Voleon Capital Management LP grew its stake in Burke & Herbert Financial Services by 38.8% during the third quarter. Voleon Capital Management LP now owns 9,651 shares of the company’s stock valued at $595,000 after acquiring an additional 2,697 shares in the last quarter. Finally, Verition Fund Management LLC increased its holdings in Burke & Herbert Financial Services by 36.9% during the 3rd quarter. Verition Fund Management LLC now owns 5,423 shares of the company’s stock worth $335,000 after acquiring an additional 1,463 shares during the period.

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.