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

Burke & Herbert Financial Services (NASDAQ:BHRB) released its quarterly earnings data on Thursday. The company reported $2.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.05, FiscalAI reports. The business had revenue of $106.90 million for the quarter, compared to the consensus estimate of $112.86 million. Burke & Herbert Financial Services had a return on equity of 15.11% and a net margin of 18.86%.

Burke & Herbert Financial Services Stock Down 0.4%

Shares of NASDAQ:BHRB opened at $70.47 on Friday. Burke & Herbert Financial Services has a 1 year low of $56.11 and a 1 year high of $73.69. The business has a 50 day simple moving average of $67.26 and a two-hundred day simple moving average of $65.45. The firm has a market capitalization of $1.42 billion, a PE ratio of 11.29 and a beta of 0.58. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.78 and a quick ratio of 0.78.

Burke & Herbert Financial Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be paid a $0.55 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $2.20 annualized dividend and a yield of 3.1%. Burke & Herbert Financial Services’s dividend payout ratio (DPR) is presently 35.26%.

Insiders Place Their Bets

In related news, Director Jill S. Upson sold 1,112 shares of the firm’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 transaction of $70,389.60. Following the completion of the sale, the director directly owned 2,000 shares of the company’s stock, valued at approximately $126,600. This trade represents a 35.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jose David Riojas acquired 1,000 shares of the business’s stock in a transaction on Tuesday, May 12th. The stock was acquired at an average cost of $62.00 per share, for a total transaction of $62,000.00. Following the transaction, the director directly owned 20,000 shares in the company, valued at $1,240,000. The trade was a 5.26% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders have bought 12,300 shares of company stock valued at $774,450. Corporate insiders own 11.99% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Kestra Advisory Services LLC purchased a new position in Burke & Herbert Financial Services during the fourth quarter valued at approximately $30,000. Aquatic Capital Management LLC purchased a new stake in Burke & Herbert Financial Services during the third quarter worth $117,000. Tower Research Capital LLC TRC boosted its position in Burke & Herbert Financial Services by 585.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,393 shares of the company’s stock valued at $203,000 after acquiring an additional 2,898 shares in the last quarter. Sei Investments Co. bought a new stake in Burke & Herbert Financial Services during the 2nd quarter valued at $204,000. Finally, Quantbot Technologies LP increased its holdings in shares of Burke & Herbert Financial Services by 8.1% in the 2nd quarter. Quantbot Technologies LP now owns 3,897 shares of the company’s stock valued at $233,000 after acquiring an additional 292 shares during the period.

Wall Street Analysts Forecast Growth

BHRB has been the subject of a number of recent research reports. Freedom Capital raised shares of Burke & Herbert Financial Services from a “hold” rating to a “strong-buy” rating in a report on Friday, May 15th. DA Davidson reaffirmed a “neutral” rating and set a $70.00 price target on shares of Burke & Herbert Financial Services in a research note on Monday, April 27th. Finally, Weiss Ratings upgraded shares of Burke & Herbert Financial Services from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, June 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $71.75.

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.