Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Receives $75.25 Average PT from Analysts

Shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) have received an average recommendation of “Moderate Buy” from the six ratings firms that are currently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $75.25.

Several research analysts have recently commented on BHRB shares. Freedom Capital upgraded shares of Burke & Herbert Financial Services from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 15th. Keefe, Bruyette & Woods lifted their price objective on shares of Burke & Herbert Financial Services from $80.00 to $81.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. Weiss Ratings upgraded shares of Burke & Herbert Financial Services from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, August 12th. Wall Street Zen upgraded shares of Burke & Herbert Financial Services from a “sell” rating to a “hold” rating in a report on Sunday, August 9th. Finally, DA Davidson set a $75.00 target price on shares of Burke & Herbert Financial Services in a research report on Monday, July 27th.

Burke & Herbert Financial Services Trading Down 0.6%

Shares of NASDAQ BHRB opened at $71.31 on Tuesday. The business has a 50 day simple moving average of $71.66 and a 200 day simple moving average of $66.81. Burke & Herbert Financial Services has a 52 week low of $57.42 and a 52 week high of $75.08. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of 11.43 and a beta of 0.57. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.84 and a current ratio of 0.84.

Burke & Herbert Financial Services (NASDAQ:BHRB) last issued its quarterly earnings data on Thursday, July 23rd. The company reported $2.03 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.05. The firm had revenue of $106.89 million for 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 13.66%. On average, research analysts predict that Burke & Herbert Financial Services will post 8.19 earnings per share for the current fiscal year.

Burke & Herbert Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Friday, August 14th. Burke & Herbert Financial Services’s dividend payout ratio is 35.26%.

Insider Buying and Selling at Burke & Herbert Financial Services

In related news, Director Georgette R. George sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $73.67, for a total value of $73,670.00. Following the completion of the sale, the director directly owned 38,321 shares in the company, valued at approximately $2,823,108.07. The trade was a 2.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director James P. Geary II sold 3,150 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $73.93, for a total value of $232,879.50. Following the sale, the director directly owned 9,457 shares of the company’s stock, valued at $699,156.01. The trade was a 24.99% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have acquired 6,369 shares of company stock worth $414,547 and have sold 5,650 shares worth $416,094. Insiders own 11.99% of the company’s stock.

Hedge Funds Weigh In On Burke & Herbert Financial Services

Institutional investors have recently modified their holdings of the company. Kestra Advisory Services LLC acquired a new stake in shares of Burke & Herbert Financial Services in the fourth quarter worth $30,000. Aquatic Capital Management LLC bought a new stake in shares of Burke & Herbert Financial Services during the 3rd quarter worth $117,000. Stonebridge Financial Group LLC acquired a new position in Burke & Herbert Financial Services in the 2nd quarter valued at $203,000. Tower Research Capital LLC TRC grew its stake in Burke & Herbert Financial Services by 585.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,393 shares of the company’s stock valued at $203,000 after buying an additional 2,898 shares during the last quarter. Finally, Sei Investments Co. bought a new position in Burke & Herbert Financial Services in the 2nd quarter worth $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.