Brokerages Set Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) PT at $71.67

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) has been assigned an average rating of “Moderate Buy” from the five analysts that are currently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $71.6667.

BHRB has been the subject of several research reports. Janney Montgomery Scott initiated coverage on Burke & Herbert Financial Services in a research report on Thursday, July 10th. They issued a “buy” rating and a $70.00 target price for the company. Wall Street Zen downgraded shares of Burke & Herbert Financial Services from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. Zacks Research raised shares of Burke & Herbert Financial Services from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th. DA Davidson boosted their price target on shares of Burke & Herbert Financial Services from $69.00 to $73.00 and gave the stock a “buy” rating in a research note on Monday, July 28th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Burke & Herbert Financial Services in a report on Saturday, September 27th.

Burke & Herbert Financial Services Stock Performance

Shares of BHRB stock opened at $60.26 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a market cap of $905.11 million, a P/E ratio of 8.75 and a beta of 1.11. The firm’s 50 day moving average price is $61.15 and its 200-day moving average price is $58.51. Burke & Herbert Financial Services has a one year low of $47.57 and a one year high of $75.32.

Burke & Herbert Financial Services (NASDAQ:BHRB) last released its quarterly earnings results on Thursday, July 24th. The company reported $1.97 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.12. The company had revenue of $87.11 million for the quarter, compared to analysts’ expectations of $86.06 million. Burke & Herbert Financial Services had a return on equity of 15.39% and a net margin of 20.93%. As a group, equities research analysts predict that Burke & Herbert Financial Services will post 8.05 EPS for the current year.

Burke & Herbert Financial Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Friday, August 15th were given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date was Friday, August 15th. Burke & Herbert Financial Services’s dividend payout ratio (DPR) is 31.93%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in BHRB. CWM LLC increased its position in Burke & Herbert Financial Services by 732.7% during the 2nd quarter. CWM LLC now owns 841 shares of the company’s stock worth $50,000 after purchasing an additional 740 shares in the last quarter. State of Wyoming acquired a new stake in Burke & Herbert Financial Services in the 1st quarter worth about $49,000. PNC Financial Services Group Inc. raised its stake in Burke & Herbert Financial Services by 104.3% during the first quarter. PNC Financial Services Group Inc. now owns 1,802 shares of the company’s stock worth $101,000 after purchasing an additional 920 shares during the period. Larson Financial Group LLC purchased a new position in shares of Burke & Herbert Financial Services in the 1st quarter worth about $141,000. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Burke & Herbert Financial Services by 585.5% during the 2nd 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.

Burke & Herbert Financial Services Company Profile

Burke Herbert Financial Services Corp. is a bank holding company, which engages in the provision of banking products and financial services to small to medium-sized businesses, their owners and employees, professional corporations, non-profits, and individuals. It operates through the following loan portfolio segments: Commercial Real Estate, Owner-Occupied Commercial Real Estate, Acquisition, Construction, and Development, Commercial and Industrial, Single Family Residential (1-4 Units), and Consumer Non-Real Estate and Other.