Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Stock Now Rated “Moderate Buy” by Sell-Side Brokerages

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB – Get Free Report) has been assigned a consensus rating of “Moderate Buy” from the six analysts that are currently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $75.25.

BHRB has been the subject of several recent research reports. 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. Keefe, Bruyette & Woods upped their price target on Burke & Herbert Financial Services from $80.00 to $81.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. DA Davidson set a $75.00 price objective on Burke & Herbert Financial Services in a research report on Monday, July 27th. Finally, Weiss Ratings upgraded Burke & Herbert Financial Services from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, August 12th.

View Our Latest Stock Report on BHRB

Insider Buying and Selling

In other news, Director Diane Poillon purchased 1,200 shares of the company’s stock in a transaction that occurred on Wednesday, August 12th. The shares were bought at an average price of $73.67 per share, for a total transaction of $88,404.00. Following the purchase, the director directly owned 4,128 shares in the company, valued at approximately $304,109.76. This trade represents a 40.98% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James Mason Burke sold 1,500 shares of the stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $73.03, for a total transaction of $109,545.00. Following the sale, the director directly owned 258,480 shares in the company, valued at $18,876,794.40. This trade represents a 0.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders bought 1,369 shares of company stock worth $100,747 and sold 5,650 shares worth $416,094. 11.99% of the stock is owned by insiders.

Institutional Investors Weigh In On Burke & Herbert Financial Services

Institutional investors have recently made changes to their positions in the company. BlackRock Inc. purchased a new position in Burke & Herbert Financial Services in the 2nd quarter worth approximately $87,556,000. Dimensional Fund Advisors LP boosted its stake in Burke & Herbert Financial Services by 15.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 367,948 shares of the company’s stock valued at $22,919,000 after purchasing an additional 49,957 shares during the last quarter. Endeavour Capital Advisors Inc. boosted its stake in Burke & Herbert Financial Services by 22.0% during the 4th quarter. Endeavour Capital Advisors Inc. now owns 125,323 shares of the company’s stock valued at $7,809,000 after purchasing an additional 22,601 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Burke & Herbert Financial Services in the 2nd quarter worth $7,555,000. Finally, Empowered Funds LLC bought a new stake in shares of Burke & Herbert Financial Services in the 2nd quarter worth $5,140,000.

Burke & Herbert Financial Services Stock Up 0.7%

NASDAQ:BHRB opened at $69.84 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84. The firm’s 50-day moving average price is $71.85 and its 200-day moving average price is $67.37. The company has a market capitalization of $1.41 billion, a PE ratio of 11.19 and a beta of 0.56. Burke & Herbert Financial Services has a 1-year low of $57.42 and a 1-year high of $75.08.

Burke & Herbert Financial Services (NASDAQ:BHRB – Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The company reported $2.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.05. The company had revenue of $106.89 million during the quarter, compared to analysts’ expectations 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, equities analysts predict that Burke & Herbert Financial Services will post 8.19 EPS for the current fiscal year.

Burke & Herbert Financial Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th were given a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend was Friday, August 14th. Burke & Herbert Financial Services’s payout ratio is currently 35.26%.

Burke & Herbert Financial Services Company Profile

(Get Free Report)

Burke & Herbert Financial Services Corp. is the bank holding company for Burke & Herbert Bank, a community-focused financial institution headquartered in Alexandria, Virginia. Founded in 1852, Burke & Herbert Bank is one of the oldest continuously operating banks in Virginia and has built its business around serving individuals, families, businesses and nonprofit organizations.

Through its banking subsidiary, the company offers deposit accounts, consumer and commercial lending, residential mortgage services, cash-management and other treasury services, online and mobile banking, and investment and wealth-management solutions.

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Analyst Recommendations for Burke & Herbert Financial Services (NASDAQ:BHRB)

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