Burke & Herbert Financial Services (NASDAQ:BHRB) Stock Rating Lowered by Wall Street Zen

Burke & Herbert Financial Services (NASDAQ:BHRB) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

A number of other research firms also recently issued reports on BHRB. Keefe, Bruyette & Woods raised their price target on shares of Burke & Herbert Financial Services from $80.00 to $81.00 and gave the stock an “outperform” rating in a research report on Friday. Weiss Ratings raised shares of Burke & Herbert Financial Services from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, June 29th. DA Davidson set a $75.00 price objective on shares of Burke & Herbert Financial Services in a research note on Monday, July 27th. Finally, Freedom Capital raised shares of Burke & Herbert Financial Services from a “hold” rating to a “strong-buy” rating in a report on Friday, May 15th. One 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 company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $75.25.

Burke & Herbert Financial Services Stock Performance

BHRB stock opened at $73.25 on Friday. The stock’s 50 day simple moving average is $68.32 and its 200 day simple moving average is $65.83. Burke & Herbert Financial Services has a 12-month low of $56.11 and a 12-month high of $74.32. The firm has a market cap of $1.48 billion, a P/E ratio of 11.74 and a beta of 0.57. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.10.

Burke & Herbert Financial Services (NASDAQ:BHRB) last released its quarterly earnings data on Thursday, July 23rd. The company reported $2.03 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.05. Burke & Herbert Financial Services had a net margin of 18.86% and a return on equity of 15.11%. The firm had revenue of $106.90 million during the quarter, compared to the consensus estimate of $112.86 million. As a group, equities research analysts predict that Burke & Herbert Financial Services will post 8.19 EPS for the current year.

Insider Buying and Selling

In related news, Director Jill S. Upson sold 1,112 shares of the stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $63.30, for a total value of $70,389.60. Following the sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Julian Forrest Jr. Barnwell acquired 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was purchased at an average price of $62.76 per share, for a total transaction of $313,800.00. Following the completion of the transaction, the director owned 26,580 shares in the company, valued at $1,668,160.80. The trade was a 23.17% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought a total of 11,300 shares of company stock valued at $709,650 in the last quarter. Company insiders own 11.99% of the company’s stock.

Institutional Investors Weigh In On Burke & Herbert Financial Services

Hedge funds have recently made changes to their positions in the business. Endeavour Capital Advisors Inc. increased its position in Burke & Herbert Financial Services by 22.0% in the 4th quarter. Endeavour Capital Advisors Inc. now owns 125,323 shares of the company’s stock valued at $7,809,000 after acquiring an additional 22,601 shares during the period. Principal Financial Group Inc. acquired a new position in Burke & Herbert Financial Services during the 1st quarter worth $1,038,000. Vanguard Group Inc. grew its stake in shares of Burke & Herbert Financial Services by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 779,800 shares of the company’s stock worth $48,589,000 after purchasing an additional 14,358 shares in the last quarter. Hsbc Holdings PLC bought a new position in shares of Burke & Herbert Financial Services in the fourth quarter worth $627,000. Finally, Alliance Wealth Strategies LLC d b a Brown Edwards Wealth Strategies acquired a new position in shares of Burke & Herbert Financial Services during the fourth quarter valued at $563,000.

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.