Burke & Herbert Financial Services (NASDAQ:BHRB) Issues Earnings Results, Hits Estimates

Burke & Herbert Financial Services (NASDAQ:BHRB) released its quarterly earnings results on Friday. The company reported $1.77 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.77, Zacks reports. Burke & Herbert Financial Services had a return on equity of 12.83% and a net margin of 6.55%.

Burke & Herbert Financial Services Trading Up 1.1 %

Shares of BHRB stock opened at $62.40 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.83 and a quick ratio of 0.83. The business has a 50-day moving average of $65.05 and a 200 day moving average of $63.66. The stock has a market capitalization of $934.00 million and a PE ratio of 26.00. Burke & Herbert Financial Services has a 1-year low of $46.00 and a 1-year high of $75.32.

Insider Buying and Selling at Burke & Herbert Financial Services

In other Burke & Herbert Financial Services news, Director Gary L. Hinkle acquired 1,548 shares of the company’s stock in a transaction on Monday, November 18th. The stock was acquired at an average price of $68.50 per share, for a total transaction of $106,038.00. Following the acquisition, the director now owns 238,355 shares in the company, valued at $16,327,317.50. This represents a 0.65 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Shawn Patrick Mclaughlin bought 555 shares of Burke & Herbert Financial Services stock in a transaction dated Monday, December 9th. The shares were acquired at an average cost of $69.35 per share, for a total transaction of $38,489.25. Following the completion of the purchase, the director now directly owns 61,000 shares of the company’s stock, valued at approximately $4,230,350. This trade represents a 0.92 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 8,950 shares of company stock worth $614,711. 9.65% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Keefe, Bruyette & Woods boosted their target price on Burke & Herbert Financial Services from $72.00 to $79.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. DA Davidson assumed coverage on shares of Burke & Herbert Financial Services in a research note on Wednesday, October 16th. They issued a “buy” rating and a $76.00 price objective for the company.

About Burke & Herbert Financial Services

Burke Herbert Financial Services Corp. is a bank holding company, which engages in the provision of banking products and financial services to small to medium-sized businesses, their owners and employees, professional corporations, non-profits, and individuals. It operates through the following loan portfolio segments: Commercial Real Estate, Owner-Occupied Commercial Real Estate, Acquisition, Construction, and Development, Commercial and Industrial, Single Family Residential (1-4 Units), and Consumer Non-Real Estate and Other.