Burke & Herbert Financial Services (NASDAQ:BHRB) Downgraded by Zacks Research to “Hold”

Burke & Herbert Financial Services (NASDAQ:BHRB) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

BHRB has been the topic of several other research reports. Citigroup lowered Burke & Herbert Financial Services to a “hold” rating in a research note on Wednesday, February 25th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Burke & Herbert Financial Services in a report on Monday, December 29th. Loop Capital set a $74.00 target price on Burke & Herbert Financial Services in a research report on Wednesday, February 25th. Freedom Capital lowered Burke & Herbert Financial Services from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 25th. Finally, DA Davidson began coverage on Burke & Herbert Financial Services in a research note on Wednesday, February 25th. They set a “neutral” rating and a $75.00 price target for the company. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $72.40.

Burke & Herbert Financial Services Stock Performance

NASDAQ:BHRB opened at $65.77 on Monday. The firm’s fifty day simple moving average is $65.44 and its 200-day simple moving average is $63.62. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.11. The stock has a market cap of $989.18 million, a PE ratio of 8.52 and a beta of 1.02. Burke & Herbert Financial Services has a fifty-two week low of $47.57 and a fifty-two week high of $70.90.

Burke & Herbert Financial Services (NASDAQ:BHRB) last announced its quarterly earnings data on Thursday, January 22nd. The company reported $1.98 EPS for the quarter, beating the consensus estimate of $1.91 by $0.07. Burke & Herbert Financial Services had a net margin of 23.89% and a return on equity of 15.11%. The firm had revenue of $86.56 million during the quarter, compared to analysts’ expectations of $80.72 million. Analysts expect that Burke & Herbert Financial Services will post 8.05 earnings per share for the current fiscal year.

Institutional Trading of Burke & Herbert Financial Services

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Burke & Herbert Financial Services by 4.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,030 shares of the company’s stock valued at $451,000 after purchasing an additional 319 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Burke & Herbert Financial Services by 16.4% in the first quarter. Goldman Sachs Group Inc. now owns 71,849 shares of the company’s stock valued at $4,031,000 after buying an additional 10,117 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of Burke & Herbert Financial Services during the first quarter valued at approximately $1,287,000. CWM LLC lifted its stake in shares of Burke & Herbert Financial Services by 732.7% during the second quarter. CWM LLC now owns 841 shares of the company’s stock valued at $50,000 after buying an additional 740 shares during the period. Finally, Hussman Strategic Advisors Inc. acquired a new stake in Burke & Herbert Financial Services during the second quarter worth approximately $627,000.

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.