Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Receives Average Rating of “Hold” from Brokerages

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) has been assigned an average recommendation of “Hold” from the seven analysts that are covering the company, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $72.40.

A number of analysts have commented on the company. Loop Capital set a $74.00 price target 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. Zacks Research cut Burke & Herbert Financial Services from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 2nd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Burke & Herbert Financial Services in a report on Monday, December 29th. Finally, DA Davidson started coverage on Burke & Herbert Financial Services in a research report on Wednesday, February 25th. They issued a “neutral” rating and a $75.00 target price on the stock.

Burke & Herbert Financial Services Stock Up 0.3%

BHRB stock opened at $61.45 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.10. Burke & Herbert Financial Services has a 52 week low of $47.57 and a 52 week high of $70.90. The stock has a market capitalization of $924.15 million, a PE ratio of 7.96 and a beta of 1.02. The firm has a 50 day moving average of $65.17 and a 200 day moving average of $63.58.

Burke & Herbert Financial Services (NASDAQ:BHRB) last posted its quarterly 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. The business had revenue of $86.56 million during the quarter, compared to analysts’ expectations of $80.72 million. Burke & Herbert Financial Services had a net margin of 23.89% and a return on equity of 14.79%. Sell-side analysts forecast that Burke & Herbert Financial Services will post 8.05 earnings per share for the current year.

Burke & Herbert Financial Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Friday, February 13th were paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 3.6%. The ex-dividend date was Friday, February 13th. Burke & Herbert Financial Services’s payout ratio is presently 28.50%.

Institutional Trading of Burke & Herbert Financial Services

A number of hedge funds and other institutional investors have recently made changes to their positions in BHRB. Vanguard Group Inc. lifted its position in Burke & Herbert Financial Services by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 779,800 shares of the company’s stock valued at $48,589,000 after purchasing an additional 14,358 shares during the period. Geode Capital Management LLC boosted its holdings in Burke & Herbert Financial Services by 6.7% in the second quarter. Geode Capital Management LLC now owns 337,425 shares of the company’s stock valued at $20,155,000 after purchasing an additional 21,258 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Burke & Herbert Financial Services by 12.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 317,991 shares of the company’s stock worth $19,814,000 after purchasing an additional 36,027 shares during the period. Hutchinson Capital Management CA raised its stake in shares of Burke & Herbert Financial Services by 0.4% during the 3rd quarter. Hutchinson Capital Management CA now owns 258,080 shares of the company’s stock valued at $15,921,000 after buying an additional 1,000 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of Burke & Herbert Financial Services by 68.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 164,263 shares of the company’s stock valued at $10,235,000 after buying an additional 66,778 shares during the last quarter.

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.