Burke & Herbert Financial Services (NASDAQ:BHRB) Reaches New 12-Month High – Here’s What Happened

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB)’s share price hit a new 52-week high during trading on Tuesday . The company traded as high as $74.14 and last traded at $73.8850, with a volume of 33080 shares traded. The stock had previously closed at $72.50.

Analysts Set New Price Targets

Several analysts recently weighed in 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 set a $75.00 price target on Burke & Herbert Financial Services in a research note on Monday. Finally, Weiss Ratings raised Burke & Herbert Financial Services from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, June 29th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $73.33.

Burke & Herbert Financial Services Stock Up 1.5%

The firm’s 50-day moving average price is $67.46 and its two-hundred day moving average price is $65.54. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.78 and a current ratio of 0.78. The firm has a market cap of $1.48 billion, a PE ratio of 11.79 and a beta of 0.58.

Burke & Herbert Financial Services (NASDAQ:BHRB) last posted its earnings results on Thursday, July 23rd. The company reported $2.03 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $0.05. Burke & Herbert Financial Services had a net margin of 18.86% and a return on equity of 15.11%. The firm had revenue of $106.90 million for the quarter, compared to the consensus estimate of $112.86 million. As a group, equities research analysts expect that Burke & Herbert Financial Services Corp. will post 8.33 EPS for the current fiscal year.

Burke & Herbert Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be given a dividend of $0.55 per share. The ex-dividend date is Friday, August 14th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.0%. Burke & Herbert Financial Services’s payout ratio is 35.26%.

Insider Activity at Burke & Herbert Financial Services

In other news, Director Julian Forrest Jr. Barnwell acquired 5,000 shares of Burke & Herbert Financial Services stock in a transaction on Wednesday, June 3rd. The stock was bought at an average price of $62.76 per share, for a total transaction of $313,800.00. Following the completion of the purchase, the director owned 26,580 shares in the company, valued at $1,668,160.80. This represents a 23.17% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Jill S. Upson sold 1,112 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $63.30, for a total value of $70,389.60. Following the completion of the sale, the director owned 2,000 shares of the company’s stock, valued at approximately $126,600. This represents a 35.73% decrease in their position. The SEC filing for this sale provides additional information. Insiders bought a total of 11,300 shares of company stock valued at $709,650 in the last three months. 11.99% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Burke & Herbert Financial Services

A number of institutional investors have recently modified their holdings of the business. Goldman Sachs Group Inc. raised its position in Burke & Herbert Financial Services by 68.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 164,263 shares of the company’s stock valued at $10,235,000 after purchasing an additional 66,778 shares during the last quarter. Bridgeway Capital Management LLC boosted its stake in shares of 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 during the period. Dimensional Fund Advisors LP grew its holdings in shares of Burke & Herbert Financial Services by 15.7% during the first quarter. Dimensional Fund Advisors LP now owns 367,948 shares of the company’s stock worth $22,919,000 after buying an additional 49,957 shares during the last quarter. Empowered Funds LLC raised its stake in Burke & Herbert Financial Services by 122.0% during the 4th quarter. Empowered Funds LLC now owns 46,053 shares of the company’s stock valued at $2,870,000 after acquiring an additional 25,306 shares during the last quarter. Finally, Jane Street Group LLC purchased a new stake in Burke & Herbert Financial Services during the 1st quarter valued at approximately $1,287,000.

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.