Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) have received a consensus rating of “Moderate Buy” from the seven research firms that are covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $71.40.

BHRB has been the subject of several recent analyst reports. DA Davidson restated a “neutral” rating and issued a $70.00 price target on shares of Burke & Herbert Financial Services in a research note on Monday, April 27th. Loop Capital set a $74.00 price target on Burke & Herbert Financial Services in a research note on Wednesday, February 25th. Freedom Capital upgraded Burke & Herbert Financial Services from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 15th. Citigroup downgraded Burke & Herbert Financial Services to a “hold” rating in a research note on Wednesday, February 25th. Finally, Zacks Research downgraded Burke & Herbert Financial Services from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 2nd.

Burke & Herbert Financial Services Trading Up 0.3%

Shares of NASDAQ:BHRB opened at $66.38 on Wednesday. The stock has a 50 day moving average of $64.09 and a 200 day moving average of $64.67. The company has a market cap of $1.34 billion, a PE ratio of 8.61 and a beta of 0.69. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.10. Burke & Herbert Financial Services has a 12-month low of $55.40 and a 12-month high of $70.90.

Burke & Herbert Financial Services (NASDAQ:BHRB) last announced its quarterly earnings data on Thursday, April 23rd. The company reported $1.87 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.87. The company had revenue of $84.70 million during the quarter, compared to the consensus estimate of $86.50 million. Burke & Herbert Financial Services had a return on equity of 14.46% and a net margin of 24.04%. As a group, equities research analysts expect that Burke & Herbert Financial Services will post 8.33 EPS for the current year.

Burke & Herbert Financial Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 15th were paid a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 3.3%. The ex-dividend date was Friday, May 15th. Burke & Herbert Financial Services’s dividend payout ratio is presently 28.53%.

Insiders Place Their Bets

In other Burke & Herbert Financial Services news, Director Julian Forrest Jr. Barnwell purchased 5,000 shares of the company’s stock in a transaction on Monday, May 11th. The stock was acquired at an average cost of $63.05 per share, for a total transaction of $315,250.00. Following the purchase, the director directly owned 208,939 shares of the company’s stock, valued at $13,173,603.95. This trade represents a 2.45% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jill S. Upson sold 1,112 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $63.30, for a total value of $70,389.60. Following the completion of the transaction, the director owned 2,000 shares of the company’s stock, valued at $126,600. The trade was a 35.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have acquired 12,300 shares of company stock valued at $774,450. 11.99% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of BHRB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Burke & Herbert Financial Services by 4.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,030 shares of the company’s stock valued at $451,000 after acquiring an additional 319 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Burke & Herbert Financial Services by 16.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 71,849 shares of the company’s stock valued at $4,031,000 after acquiring an additional 10,117 shares during the last quarter. Jane Street Group LLC bought a new position in shares of Burke & Herbert Financial Services during the 1st quarter valued at approximately $1,287,000. JPMorgan Chase & Co. boosted its position in shares of Burke & Herbert Financial Services by 32.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 49,511 shares of the company’s stock valued at $2,957,000 after acquiring an additional 12,057 shares during the last quarter. Finally, Legal & General Group Plc boosted its position in shares of Burke & Herbert Financial Services by 4.2% during the 2nd quarter. Legal & General Group Plc now owns 13,389 shares of the company’s stock valued at $798,000 after acquiring an additional 538 shares during the last quarter.

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.