Burke & Herbert Financial Services Corp. (BHRB) to Issue Quarterly Dividend of $0.55 on December 1st

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) declared a quarterly dividend on Thursday, October 22nd. Shareholders of record on Friday, November 13th will be given a dividend of $0.55 per share on Tuesday, December 1st. This represents a $2.20 annualized dividend and a yield of 3.1%. The ex-dividend date is Friday, November 13th.

Burke & Herbert Financial Services has a dividend payout ratio of 28.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Burke & Herbert Financial Services to earn $8.78 per share next year, which means the company should continue to be able to cover its $2.20 annual dividend with an expected future payout ratio of 25.1%.

Burke & Herbert Financial Services Stock Performance

NASDAQ BHRB opened at $70.70 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84. The stock has a market capitalization of $1.43 billion, a PE ratio of 8.94 and a beta of 0.58. Burke & Herbert Financial Services has a 1-year low of $58.01 and a 1-year high of $75.08. The business has a 50 day simple moving average of $70.47 and a two-hundred day simple moving average of $68.42.

Burke & Herbert Financial Services (NASDAQ:BHRB) last released its quarterly earnings results on Thursday, October 22nd. The company reported $2.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.05 by $0.09. Burke & Herbert Financial Services had a net margin of 18.43% and a return on equity of 14.54%. The company had revenue of $119.74 million for the quarter, compared to the consensus estimate of $121.32 million. On average, research analysts predict that Burke & Herbert Financial Services will post 8.09 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Weiss Ratings raised Burke & Herbert Financial Services from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, August 12th. Keefe, Bruyette & Woods upped their price objective on Burke & Herbert Financial Services from $80.00 to $81.00 and gave the company an “outperform” rating in a research report on Friday, July 31st. DA Davidson set a $75.00 price objective on Burke & Herbert Financial Services in a research note on Monday, July 27th. Finally, Wall Street Zen upgraded Burke & Herbert Financial Services from a “sell” rating to a “hold” rating in a report on Sunday, August 9th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Burke & Herbert Financial Services has a consensus rating of “Moderate Buy” and an average target price of $76.67.

Burke & Herbert Financial Services Company Profile

Burke & Herbert Financial Services Corp. is the bank holding company for Burke & Herbert Bank & Trust Company, a community bank headquartered in Alexandria, Virginia. The bank traces its history to 1852 and serves consumers, businesses, nonprofit organizations and government-related entities in the Washington, DC, metropolitan region.

Burke & Herbert Bank provides traditional banking services, including checking and savings accounts, certificates of deposit, consumer loans, residential mortgages, commercial real estate financing and business loans.