Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Given Consensus Recommendation of “Hold” by Brokerages

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) has earned an average rating of “Hold” from the five research firms that are currently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $71.50.

BHRB has been the subject of a number of research reports. DA Davidson downgraded shares of Burke & Herbert Financial Services from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. Weiss Ratings reissued a “hold (c+)” rating on shares of Burke & Herbert Financial Services in a research report on Monday, December 29th. Summit Redstone set a $71.00 price objective on Burke & Herbert Financial Services in a research report on Thursday, October 9th. Finally, Zacks Research raised Burke & Herbert Financial Services from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th.

Insiders Place Their Bets

In other Burke & Herbert Financial Services news, Director Shawn Patrick Mclaughlin purchased 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 28th. The stock was purchased at an average price of $61.00 per share, with a total value of $61,000.00. Following the completion of the transaction, the director directly owned 67,000 shares of the company’s stock, valued at approximately $4,087,000. This trade represents a 1.52% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 10.92% of the stock is currently owned by insiders.

Institutional Trading of Burke & Herbert Financial Services

Several hedge funds have recently modified their holdings of BHRB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Burke & Herbert Financial Services by 4.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,030 shares of the company’s stock worth $451,000 after acquiring an additional 319 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Burke & Herbert Financial Services by 16.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 71,849 shares of the company’s stock worth $4,031,000 after acquiring an additional 10,117 shares during the last quarter. Jane Street Group LLC acquired a new stake in Burke & Herbert Financial Services in the 1st quarter valued at about $1,287,000. Wealth Enhancement Advisory Services LLC raised its stake in shares of Burke & Herbert Financial Services by 7.7% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 6,600 shares of the company’s stock worth $422,000 after acquiring an additional 470 shares during the last quarter. Finally, CWM LLC lifted its position in shares of Burke & Herbert Financial Services by 732.7% during the second 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.

Burke & Herbert Financial Services Stock Performance

BHRB opened at $64.67 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.11. The stock’s 50 day moving average price is $64.38 and its two-hundred day moving average price is $62.43. The firm has a market capitalization of $971.93 million, a P/E ratio of 9.19 and a beta of 1.02. Burke & Herbert Financial Services has a 12-month low of $47.57 and a 12-month high of $70.51.

Burke & Herbert Financial Services (NASDAQ:BHRB) last issued its quarterly earnings results on Thursday, October 23rd. The company reported $1.97 EPS for the quarter, topping analysts’ consensus estimates of $1.88 by $0.09. The company had revenue of $85.36 million during the quarter, compared to analyst estimates of $86.40 million. Burke & Herbert Financial Services had a return on equity of 14.95% and a net margin of 21.68%. On average, equities analysts forecast that Burke & Herbert Financial Services will post 8.05 earnings per share for the current year.

Burke & Herbert Financial Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Friday, November 14th were given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 3.4%. The ex-dividend date was Friday, November 14th. Burke & Herbert Financial Services’s payout ratio is 31.25%.

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.