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

Shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB – Get Free Report) have received a consensus rating of “Moderate Buy” from the six analysts that are currently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $76.67.

Several analysts have recently weighed in on BHRB shares. DA Davidson set a $75.00 price objective on Burke & Herbert Financial Services in a report on Monday, July 27th. Wall Street Zen upgraded Burke & Herbert Financial Services from a “sell” rating to a “hold” rating in a research note on Sunday, August 9th. Keefe, Bruyette & Woods upped their target price on Burke & Herbert Financial Services from $80.00 to $81.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. Finally, Weiss Ratings raised Burke & Herbert Financial Services from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, August 12th.

View Our Latest Stock Report on Burke & Herbert Financial Services

Burke & Herbert Financial Services Trading Down 1.1%

Shares of BHRB opened at $69.19 on Wednesday. Burke & Herbert Financial Services has a 12-month low of $57.42 and a 12-month high of $75.08. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of 11.09 and a beta of 0.58. The stock’s 50-day moving average price is $71.05 and its 200 day moving average price is $68.02.

Burke & Herbert Financial Services (NASDAQ:BHRB – Get Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The company reported $2.03 EPS for the quarter, beating the consensus estimate of $1.98 by $0.05. Burke & Herbert Financial Services had a return on equity of 13.66% and a net margin of 18.86%. The firm had revenue of $106.89 million during the quarter, compared to analysts’ expectations of $112.86 million. As a group, research analysts predict that Burke & Herbert Financial Services will post 8.09 earnings per share for the current year.

Burke & Herbert Financial Services Announces Dividend

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

Insider Buying and Selling at Burke & Herbert Financial Services

In other news, Director Georgette R. George sold 1,000 shares of the stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $73.67, for a total value of $73,670.00. Following the completion of the transaction, the director owned 38,321 shares in the company, valued at approximately $2,823,108.07. This represents a 2.54% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director James P. Geary II sold 3,150 shares of the firm’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $73.93, for a total transaction of $232,879.50. Following the transaction, the director directly owned 9,457 shares of the company’s stock, valued at $699,156.01. The trade was a 24.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have purchased 1,369 shares of company stock worth $100,747 and have sold 5,650 shares worth $416,094. 11.99% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Arizona State Retirement System lifted its holdings in shares of Burke & Herbert Financial Services by 23.1% during the second quarter. Arizona State Retirement System now owns 4,575 shares of the company’s stock valued at $329,000 after acquiring an additional 859 shares during the period. Quantinno Capital Management LP boosted its stake in shares of Burke & Herbert Financial Services by 13.9% in the 1st quarter. Quantinno Capital Management LP now owns 9,439 shares of the company’s stock valued at $588,000 after purchasing an additional 1,150 shares in the last quarter. Y Intercept Hong Kong Ltd grew its holdings in shares of Burke & Herbert Financial Services by 58.9% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 6,013 shares of the company’s stock worth $375,000 after purchasing an additional 2,230 shares during the last quarter. Stonebridge Financial Group LLC bought a new stake in shares of Burke & Herbert Financial Services in the 2nd quarter worth about $203,000. Finally, Folger Nolan Fleming Douglas Capital Management Inc. grew its holdings in shares of Burke & Herbert Financial Services by 100.3% in the 1st quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 7,591 shares of the company’s stock worth $473,000 after purchasing an additional 3,801 shares during the last quarter.

Burke & Herbert Financial Services Company Profile

(Get Free Report)

Burke & Herbert Financial Services Corporation (NASDAQ:BHRB) is the bank holding company for Burke & Herbert Bank, a community banking institution headquartered in Alexandria, Virginia. Founded in 1852, Burke & Herbert Bank is one of Virginia’s oldest continuously operating banks and provides financial services to individuals, businesses, nonprofit organizations and public-sector customers.

The company offers deposit accounts, consumer and commercial lending, residential mortgages, home equity loans, treasury and cash-management services, credit cards and online and mobile banking.

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

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