Burke & Herbert Financial Services (NASDAQ:BHRB) Stock Rating Lowered by Zacks Research

Burke & Herbert Financial Services (NASDAQ:BHRB) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

BHRB has been the topic of a number of other research reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Burke & Herbert Financial Services in a research note on Monday, December 29th. Loop Capital set a $74.00 price objective on Burke & Herbert Financial Services in a report on Wednesday, February 25th. Freedom Capital cut Burke & Herbert Financial Services from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 25th. Citigroup downgraded Burke & Herbert Financial Services to a “hold” rating in a research report on Wednesday, February 25th. Finally, DA Davidson started coverage on Burke & Herbert Financial Services in a report on Wednesday, February 25th. They issued a “neutral” rating and a $75.00 price objective on the stock. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $72.40.

Burke & Herbert Financial Services Stock Performance

NASDAQ BHRB opened at $65.77 on Monday. The business’s 50-day moving average price is $65.44 and its 200 day moving average price is $63.62. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.11. Burke & Herbert Financial Services has a twelve month low of $47.57 and a twelve month high of $70.90. The company has a market capitalization of $989.18 million, a PE ratio of 8.52 and a beta of 1.02.

Burke & Herbert Financial Services (NASDAQ:BHRB) last posted its quarterly earnings data on Thursday, January 22nd. The company reported $1.98 EPS for the quarter, beating analysts’ consensus estimates of $1.91 by $0.07. The company had revenue of $86.56 million during the quarter, compared to the consensus estimate 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, research analysts predict that Burke & Herbert Financial Services will post 8.05 earnings per share for the current year.

Institutional Investors Weigh In On Burke & Herbert Financial Services

Several institutional investors and hedge funds have recently modified their holdings of the stock. Kestra Advisory Services LLC acquired a new stake in shares of Burke & Herbert Financial Services in the fourth quarter valued at about $30,000. State of Alaska Department of Revenue purchased a new position in Burke & Herbert Financial Services in the 3rd quarter worth approximately $37,000. CWM LLC grew its position in Burke & Herbert Financial Services by 732.7% in the second quarter. CWM LLC now owns 841 shares of the company’s stock valued at $50,000 after acquiring an additional 740 shares in the last quarter. Aquatic Capital Management LLC purchased a new stake in shares of Burke & Herbert Financial Services during the third quarter valued at approximately $117,000. Finally, PNC Financial Services Group Inc. lifted its position in shares of Burke & Herbert Financial Services by 22.2% during the second quarter. PNC Financial Services Group Inc. now owns 2,202 shares of the company’s stock worth $132,000 after purchasing an additional 400 shares in 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.