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

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) has received a consensus rating of “Hold” from the seven brokerages that are covering the company, MarketBeat reports. Five analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $71.40.

A number of brokerages have commented on BHRB. Freedom Capital downgraded shares of Burke & Herbert Financial Services from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 25th. Weiss Ratings restated a “hold (c+)” rating on shares of Burke & Herbert Financial Services in a research note on Friday, May 8th. Zacks Research downgraded shares of Burke & Herbert Financial Services from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 2nd. Citigroup downgraded shares of Burke & Herbert Financial Services to a “hold” rating in a research note on Wednesday, February 25th. Finally, DA Davidson restated a “neutral” rating and issued a $70.00 target price on shares of Burke & Herbert Financial Services in a research note on Monday, April 27th.

Insider Transactions at Burke & Herbert Financial Services

In other Burke & Herbert Financial Services news, Director Shawn Patrick Mclaughlin purchased 1,000 shares of the stock in a transaction dated Tuesday, April 28th. The stock was purchased at an average price of $64.80 per share, with a total value of $64,800.00. Following the transaction, the director owned 69,000 shares of the company’s stock, valued at approximately $4,471,200. This trade represents a 1.47% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jose David Riojas purchased 1,000 shares of the stock in a transaction dated Tuesday, May 12th. The stock was acquired at an average cost of $62.00 per share, with a total value of $62,000.00. Following the transaction, the director directly owned 20,000 shares in the company, valued at approximately $1,240,000. This trade represents a 5.26% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders acquired 7,300 shares of company stock valued at $460,650. Company insiders own 10.92% of the company’s stock.

Institutional Investors Weigh In On Burke & Herbert Financial Services

Hedge funds have recently modified their holdings of the business. LSV Asset Management lifted its position in shares of Burke & Herbert Financial Services by 152.5% in the 3rd quarter. LSV Asset Management now owns 40,900 shares of the company’s stock worth $2,523,000 after purchasing an additional 24,700 shares during the period. Endeavour Capital Advisors Inc. lifted its position in shares of Burke & Herbert Financial Services by 65.9% in the 3rd quarter. Endeavour Capital Advisors Inc. now owns 102,722 shares of the company’s stock worth $6,337,000 after purchasing an additional 40,809 shares during the period. Alps Advisors Inc. purchased a new stake in shares of Burke & Herbert Financial Services in the 3rd quarter worth approximately $457,000. Alliance Wealth Strategies LLC d b a Brown Edwards Wealth Strategies purchased a new stake in shares of Burke & Herbert Financial Services in the 4th quarter worth approximately $563,000. Finally, Teacher Retirement System of Texas purchased a new stake in Burke & Herbert Financial Services during the third quarter valued at approximately $835,000.

Burke & Herbert Financial Services Price Performance

Shares of BHRB stock opened at $61.47 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.78 and a quick ratio of 0.81. The company has a market capitalization of $1.24 billion, a P/E ratio of 7.97 and a beta of 0.74. The company’s 50-day simple moving average is $63.22 and its two-hundred day simple moving average is $64.20. Burke & Herbert Financial Services has a one year low of $54.45 and a one year high of $70.90.

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

Burke & Herbert Financial Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Friday, May 15th will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Friday, May 15th. Burke & Herbert Financial Services’s dividend payout ratio is presently 28.53%.

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.