Burke & Herbert Financial Services (NASDAQ:BHRB) Announces Earnings Results

Burke & Herbert Financial Services (NASDAQ:BHRB) announced its quarterly earnings results on Thursday. The company reported $1.87 EPS for the quarter, meeting the consensus estimate of $1.87, FiscalAI reports. The company had revenue of $84.70 million for the quarter, compared to analyst estimates of $86.50 million. Burke & Herbert Financial Services had a net margin of 23.89% and a return on equity of 14.79%.

Burke & Herbert Financial Services Price Performance

Shares of Burke & Herbert Financial Services stock traded up $0.09 during trading on Thursday, hitting $64.50. The stock had a trading volume of 86,960 shares, compared to its average volume of 96,635. The business has a fifty day moving average of $64.26 and a two-hundred day moving average of $63.86. Burke & Herbert Financial Services has a fifty-two week low of $50.61 and a fifty-two week high of $70.90. The firm has a market cap of $970.02 million, a P/E ratio of 8.35 and a beta of 0.98. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.81 and a quick ratio of 0.81.

Wall Street Analysts Forecast Growth

Several research firms recently commented on BHRB. Zacks Research cut Burke & Herbert Financial Services from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 2nd. Weiss Ratings reissued a “hold (c+)” rating on shares of Burke & Herbert Financial Services in a research note on Monday, December 29th. Loop Capital set a $74.00 price target on Burke & Herbert Financial Services in a report on Wednesday, February 25th. DA Davidson started coverage on shares of Burke & Herbert Financial Services in a research note on Wednesday, February 25th. They set a “neutral” rating and a $75.00 price objective on the stock. Finally, Freedom Capital downgraded shares of Burke & Herbert Financial Services from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 25th. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $72.40.

Institutional Investors Weigh In On Burke & Herbert Financial Services

Several hedge funds and other institutional investors have recently bought and sold shares of BHRB. Invesco Ltd. boosted its position in shares of Burke & Herbert Financial Services by 12.5% during the 4th quarter. Invesco Ltd. now owns 16,388 shares of the company’s stock valued at $1,021,000 after purchasing an additional 1,820 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of Burke & Herbert Financial Services by 122.0% in the 4th quarter. Empowered Funds LLC now owns 46,053 shares of the company’s stock worth $2,870,000 after purchasing an additional 25,306 shares in the last quarter. Millennium Management LLC acquired a new stake in Burke & Herbert Financial Services during the fourth quarter valued at approximately $454,000. Bridgeway Capital Management LLC boosted its holdings in Burke & Herbert Financial Services by 235.4% during the fourth quarter. Bridgeway Capital Management LLC now owns 81,653 shares of the company’s stock worth $5,088,000 after buying an additional 57,306 shares in the last quarter. Finally, AQR Capital Management LLC boosted its holdings in Burke & Herbert Financial Services by 15.0% during the fourth quarter. AQR Capital Management LLC now owns 74,551 shares of the company’s stock worth $4,645,000 after buying an additional 9,734 shares in the last quarter.

About Burke & Herbert Financial Services

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.