Burke & Herbert Financial Services (NASDAQ:BHRB) Releases Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Burke & Herbert Financial Services (NASDAQ:BHRB) issued its quarterly earnings results on Thursday. The company reported $2.03 EPS for the quarter, topping the consensus estimate of $1.98 by $0.05, FiscalAI reports. Burke & Herbert Financial Services had a net margin of 24.04% and a return on equity of 14.46%.

Burke & Herbert Financial Services Stock Down 0.3%

Shares of BHRB traded down $0.24 on Thursday, hitting $70.77. The company’s stock had a trading volume of 103,894 shares, compared to its average volume of 133,324. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.10. The firm’s fifty day moving average price is $66.91 and its 200-day moving average price is $65.35. Burke & Herbert Financial Services has a fifty-two week low of $56.11 and a fifty-two week high of $73.69. The firm has a market capitalization of $1.43 billion, a price-to-earnings ratio of 9.18 and a beta of 0.58.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on BHRB shares. DA Davidson restated a “neutral” rating and issued a $70.00 price objective on shares of Burke & Herbert Financial Services in a report on Monday, April 27th. Freedom Capital upgraded Burke & Herbert Financial Services from a “hold” rating to a “strong-buy” rating in a report on Friday, May 15th. Finally, Weiss Ratings raised Burke & Herbert Financial Services from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, June 29th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $71.75.

Insider Activity at Burke & Herbert Financial Services

In related news, Director Shawn Patrick Mclaughlin purchased 1,000 shares of the business’s stock in a transaction on Tuesday, April 28th. The shares were purchased at an average price of $64.80 per share, with a total value of $64,800.00. Following the completion of the purchase, the director owned 69,000 shares in the company, valued at $4,471,200. This represents a 1.47% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jill S. Upson sold 1,112 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $63.30, for a total transaction of $70,389.60. Following the completion of the transaction, the director owned 2,000 shares of the company’s stock, valued at $126,600. This trade represents a 35.73% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have bought 12,300 shares of company stock valued at $774,450. Corporate insiders own 11.99% of the company’s stock.

Hedge Funds Weigh In On Burke & Herbert Financial Services

Institutional investors and hedge funds have recently made changes to their positions in the company. Kestra Advisory Services LLC bought a new stake in Burke & Herbert Financial Services in the 4th quarter valued at $30,000. Aquatic Capital Management LLC bought a new stake in shares of Burke & Herbert Financial Services in the third quarter valued at about $117,000. Tower Research Capital LLC TRC grew its stake 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 acquiring an additional 2,898 shares in the last quarter. Sei Investments Co. bought a new position in Burke & Herbert Financial Services during the second quarter worth about $204,000. Finally, Quantbot Technologies LP raised its stake in Burke & Herbert Financial Services by 8.1% in the 2nd quarter. Quantbot Technologies LP now owns 3,897 shares of the company’s stock worth $233,000 after purchasing an additional 292 shares in 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.