Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) have earned a consensus rating of “Moderate Buy” from the six ratings firms that are covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $71.75.

A number of analysts have commented on the stock. 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. DA Davidson restated a “neutral” rating and issued a $70.00 price target on shares of Burke & Herbert Financial Services in a research report on Monday, April 27th. Finally, Weiss Ratings raised Burke & Herbert Financial Services from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, June 29th.

Burke & Herbert Financial Services Trading Up 0.3%

Burke & Herbert Financial Services stock traded up $0.18 during trading hours on Friday, reaching $70.30. 123,852 shares of the company’s stock traded hands, compared to its average volume of 202,082. The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of 9.12 and a beta of 0.58. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.78 and a current ratio of 0.78. Burke & Herbert Financial Services has a fifty-two week low of $56.11 and a fifty-two week high of $73.69. The firm’s 50 day moving average is $65.63 and its 200-day moving average is $64.89.

Burke & Herbert Financial Services (NASDAQ:BHRB) last issued its quarterly earnings results on Thursday, April 23rd. The company reported $1.87 EPS for the quarter, hitting the consensus estimate of $1.87. Burke & Herbert Financial Services had a net margin of 24.04% and a return on equity of 14.46%. The company had revenue of $84.70 million during the quarter, compared to analysts’ expectations of $86.50 million. On average, analysts predict that Burke & Herbert Financial Services will post 8.33 earnings per share for the current year.

Burke & Herbert Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were paid a $0.55 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.1%. Burke & Herbert Financial Services’s dividend payout ratio is 28.53%.

Insider Activity

In other news, Director Jose David Riojas bought 1,000 shares of the stock in a transaction on Tuesday, May 12th. The stock was purchased at an average price of $62.00 per share, with a total value of $62,000.00. Following the completion of the purchase, the director owned 20,000 shares of the company’s stock, valued at approximately $1,240,000. This trade represents a 5.26% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Jill S. Upson sold 1,112 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $63.30, for a total transaction of $70,389.60. Following the completion of the transaction, the director directly owned 2,000 shares of the company’s stock, valued at $126,600. This trade represents a 35.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have bought a total of 12,300 shares of company stock worth $774,450 in the last ninety days. Company insiders own 11.99% of the company’s stock.

Institutional Investors Weigh In On Burke & Herbert Financial Services

Large investors have recently modified their holdings of the business. Kestra Advisory Services LLC bought a new position in shares of Burke & Herbert Financial Services during the 4th quarter valued at about $30,000. Aquatic Capital Management LLC bought a new stake in Burke & Herbert Financial Services during the 3rd quarter worth approximately $117,000. Graves Light Lenhart Wealth Inc. bought a new stake in Burke & Herbert Financial Services during the 4th quarter worth approximately $201,000. Stonebridge Financial Group LLC acquired a new stake in Burke & Herbert Financial Services during the 2nd quarter worth approximately $203,000. Finally, Tower Research Capital LLC TRC raised its holdings in 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 worth $203,000 after buying an additional 2,898 shares during the period.

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.