Burke & Herbert Financial Services (NASDAQ:BHRB) Sets New 12-Month High – Still a Buy?

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB)’s share price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $73.32 and last traded at $72.76, with a volume of 231549 shares changing hands. The stock had previously closed at $71.86.

Wall Street Analysts Forecast Growth

Several brokerages have commented on BHRB. Freedom Capital upgraded shares of Burke & Herbert Financial Services from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 15th. Weiss Ratings raised Burke & Herbert Financial Services from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday. Finally, DA Davidson restated a “neutral” rating and issued a $70.00 target price on shares of Burke & Herbert Financial Services in a research report on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $71.40.

Burke & Herbert Financial Services Stock Performance

The stock has a market cap of $1.47 billion, a price-to-earnings ratio of 9.44 and a beta of 0.57. 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 company’s 50 day simple moving average is $64.85 and its 200 day simple moving average is $64.81.

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

Burke & Herbert Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 15th were given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date was Friday, May 15th. Burke & Herbert Financial Services’s dividend payout ratio is 28.53%.

Insider Transactions at Burke & Herbert Financial Services

In other news, Director Shawn Patrick Mclaughlin purchased 1,000 shares of the stock in a transaction dated Tuesday, April 28th. The shares were bought at an average cost of $64.80 per share, for a total transaction of $64,800.00. Following the transaction, the director owned 69,000 shares in the company, valued at $4,471,200. This trade represents a 1.47% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Julian Forrest Jr. Barnwell bought 5,000 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were purchased at an average cost of $63.05 per share, with a total value of $315,250.00. Following the purchase, the director directly owned 208,939 shares of the company’s stock, valued at approximately $13,173,603.95. This represents a 2.45% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 12,300 shares of company stock valued at $774,450 in the last quarter. Company insiders own 11.99% of the company’s stock.

Hedge Funds Weigh In On Burke & Herbert Financial Services

Several hedge funds have recently made changes to their positions in BHRB. Kestra Advisory Services LLC acquired a new stake in Burke & Herbert Financial Services during the fourth quarter valued at approximately $30,000. Aquatic Capital Management LLC acquired a new position in Burke & Herbert Financial Services in the third quarter worth approximately $117,000. Graves Light Lenhart Wealth Inc. acquired a new stake in shares of Burke & Herbert Financial Services during the fourth quarter worth $201,000. Tower Research Capital LLC TRC increased its stake in Burke & Herbert Financial Services by 585.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,393 shares of the company’s stock worth $203,000 after purchasing an additional 2,898 shares in the last quarter. Finally, Sei Investments Co. purchased a new position in Burke & Herbert Financial Services in the 2nd quarter worth about $204,000.

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.