Analysts Set Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Target Price at $71.40

Shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) have been assigned an average recommendation of “Moderate Buy” from the six research firms that are currently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $71.75.

Several equities research analysts have issued reports on BHRB shares. Weiss Ratings raised Burke & Herbert Financial Services from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, June 29th. DA Davidson reiterated a “neutral” rating and set a $70.00 price objective on shares of Burke & Herbert Financial Services in a research report on Monday, April 27th. Finally, Freedom Capital upgraded Burke & Herbert Financial Services from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 15th.

Burke & Herbert Financial Services Price Performance

Burke & Herbert Financial Services stock opened at $70.12 on Friday. The stock has a market cap of $1.41 billion, a price-to-earnings ratio of 9.09 and a beta of 0.58. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.10. The business has a 50-day simple moving average of $65.50 and a 200 day simple moving average of $64.85. Burke & Herbert Financial Services has a 52 week low of $56.11 and a 52 week high of $73.69.

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

Burke & Herbert Financial Services Announces Dividend

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 dividend of $0.55 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $2.20 annualized dividend and a dividend yield of 3.1%. Burke & Herbert Financial Services’s dividend payout ratio (DPR) is 28.53%.

Insider Buying and Selling at Burke & Herbert Financial Services

In other Burke & Herbert Financial Services news, Director Jill S. Upson sold 1,112 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $63.30, for a total transaction of $70,389.60. Following the completion of the sale, the director directly owned 2,000 shares in the company, valued at $126,600. This represents a 35.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Shawn Patrick Mclaughlin acquired 1,000 shares of Burke & Herbert Financial Services 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 completion of the purchase, the director directly owned 69,000 shares of the company’s stock, valued at approximately $4,471,200. The trade was a 1.47% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have bought 12,300 shares of company stock valued at $774,450. Insiders own 11.99% of the company’s stock.

Hedge Funds Weigh In On Burke & Herbert Financial Services

Institutional investors and hedge funds have recently bought and sold shares of the stock. Kestra Advisory Services LLC purchased a new position in Burke & Herbert Financial Services in the 4th quarter worth approximately $30,000. Aquatic Capital Management LLC bought a new position in shares of Burke & Herbert Financial Services in the third quarter worth approximately $117,000. Graves Light Lenhart Wealth Inc. bought a new position in shares of Burke & Herbert Financial Services in the fourth quarter worth approximately $201,000. Stonebridge Financial Group LLC purchased a new position in shares of Burke & Herbert Financial Services in the second quarter worth $203,000. Finally, Tower Research Capital LLC TRC increased its stake in shares of Burke & Herbert Financial Services by 585.5% in the second quarter. Tower Research Capital LLC TRC now owns 3,393 shares of the company’s stock worth $203,000 after buying an additional 2,898 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.