Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Receives Average Rating of “Hold” from Analysts

Shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) have earned a consensus recommendation of “Hold” from the seven brokerages that are currently covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $72.40.

Several equities analysts recently issued reports on BHRB shares. Loop Capital set a $74.00 target price on shares of Burke & Herbert Financial Services in a research note on Wednesday, February 25th. Citigroup lowered shares of Burke & Herbert Financial Services to a “hold” rating in a research report on Wednesday, February 25th. Freedom Capital cut shares of Burke & Herbert Financial Services from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 25th. DA Davidson began coverage on shares of Burke & Herbert Financial Services in a research report on Wednesday, February 25th. They issued a “neutral” rating and a $75.00 price objective for the company. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Burke & Herbert Financial Services in a research note on Monday, December 29th.

Burke & Herbert Financial Services Stock Up 0.3%

Shares of BHRB stock opened at $61.45 on Friday. Burke & Herbert Financial Services has a twelve month low of $47.57 and a twelve month high of $70.90. The stock has a market cap of $924.15 million, a P/E ratio of 7.96 and a beta of 1.02. The stock has a 50 day moving average of $65.17 and a 200 day moving average of $63.58. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.10.

Burke & Herbert Financial Services (NASDAQ:BHRB) last released its quarterly earnings data on Thursday, January 22nd. The company reported $1.98 EPS for the quarter, topping the consensus estimate of $1.91 by $0.07. The business had revenue of $86.56 million for the quarter, compared to analyst estimates of $80.72 million. Burke & Herbert Financial Services had a return on equity of 14.79% and a net margin of 23.89%. As a group, sell-side analysts expect that Burke & Herbert Financial Services will post 8.05 EPS for the current year.

Burke & Herbert Financial Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Friday, February 13th were given a dividend of $0.55 per share. The ex-dividend date was Friday, February 13th. This represents a $2.20 dividend on an annualized basis and a yield of 3.6%. Burke & Herbert Financial Services’s dividend payout ratio is currently 28.50%.

Institutional Trading of Burke & Herbert Financial Services

Institutional investors and hedge funds have recently made changes to their positions in the business. Kestra Advisory Services LLC acquired a new position in shares of Burke & Herbert Financial Services during the 4th quarter worth approximately $30,000. State of Alaska Department of Revenue acquired a new stake in Burke & Herbert Financial Services in the 3rd quarter valued at $37,000. Aquatic Capital Management LLC purchased a new stake in Burke & Herbert Financial Services in the 3rd quarter worth $117,000. PNC Financial Services Group Inc. increased its holdings in Burke & Herbert Financial Services by 22.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 2,202 shares of the company’s stock worth $132,000 after acquiring an additional 400 shares in the last quarter. Finally, First United Bank & Trust raised its position in Burke & Herbert Financial Services by 96.3% during the third quarter. First United Bank & Trust now owns 2,261 shares of the company’s stock worth $139,000 after acquiring an additional 1,109 shares during the period.

About Burke & Herbert Financial Services

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.