Burke & Herbert Financial Services (NASDAQ:BHRB) Earns Neutral Rating from Analysts at DA Davidson

Research analysts at DA Davidson initiated coverage on shares of Burke & Herbert Financial Services (NASDAQ:BHRB) in a research report issued on Wednesday. The brokerage set a “neutral” rating and a $75.00 price target on the stock. DA Davidson’s target price points to a potential upside of 15.08% from the company’s previous close.

A number of other analysts have also recently issued reports on the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Burke & Herbert Financial Services in a research report on Monday, December 29th. Zacks Research upgraded Burke & Herbert Financial Services from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Burke & Herbert Financial Services currently has an average rating of “Moderate Buy” and an average price target of $72.00.

Burke & Herbert Financial Services Trading Down 0.2%

NASDAQ BHRB opened at $65.17 on Wednesday. The firm’s fifty day moving average price is $65.52 and its 200 day moving average price is $63.40. Burke & Herbert Financial Services has a 12 month low of $47.57 and a 12 month high of $70.90. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market capitalization of $979.51 million, a price-to-earnings ratio of 8.44 and a beta of 1.02.

Burke & Herbert Financial Services (NASDAQ:BHRB) last announced its quarterly earnings results on Thursday, January 22nd. The company reported $1.98 earnings per share for the quarter, beating analysts’ consensus estimates of $1.91 by $0.07. The firm had revenue of $86.56 million during the quarter, compared to analysts’ expectations of $80.72 million. Burke & Herbert Financial Services had a net margin of 23.89% and a return on equity of 15.11%. On average, sell-side analysts expect that Burke & Herbert Financial Services will post 8.05 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of BHRB. Kestra Advisory Services LLC purchased a new stake in shares of Burke & Herbert Financial Services during the fourth quarter worth approximately $30,000. State of Alaska Department of Revenue purchased a new position in Burke & Herbert Financial Services in the 3rd quarter valued at $37,000. CWM LLC increased its stake in Burke & Herbert Financial Services by 732.7% in the 2nd quarter. CWM LLC now owns 841 shares of the company’s stock valued at $50,000 after buying an additional 740 shares during the period. Aquatic Capital Management LLC purchased a new position in Burke & Herbert Financial Services during the 3rd quarter worth $117,000. Finally, PNC Financial Services Group Inc. raised its position in Burke & Herbert Financial Services by 22.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 2,202 shares of the company’s stock worth $132,000 after buying an additional 400 shares during the last quarter.

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.