Burke & Herbert Financial Services (NASDAQ:BHRB) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Burke & Herbert Financial Services (NASDAQ:BHRB) from a sell rating to a hold rating in a report published on Sunday morning.

Several other research analysts have also recently issued reports on BHRB. Weiss Ratings upgraded shares of Burke & Herbert Financial Services from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, June 29th. DA Davidson set a $75.00 price objective on shares of Burke & Herbert Financial Services in a research note on Monday, July 27th. Keefe, Bruyette & Woods boosted their target price on Burke & Herbert Financial Services from $80.00 to $81.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. 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. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $75.25.

Burke & Herbert Financial Services Stock Performance

BHRB stock opened at $73.62 on Friday. The company has a market capitalization of $1.49 billion, a P/E ratio of 11.80 and a beta of 0.57. The company has a 50-day simple moving average of $69.77 and a 200 day simple moving average of $66.28. Burke & Herbert Financial Services has a fifty-two week low of $57.42 and a fifty-two week high of $75.08. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.10.

Burke & Herbert Financial Services (NASDAQ:BHRB) last announced its earnings results on Thursday, July 23rd. The company reported $2.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.05. Burke & Herbert Financial Services had a net margin of 18.86% and a return on equity of 15.11%. The firm had revenue of $106.89 million during the quarter, compared to analyst estimates of $112.86 million. Sell-side analysts predict that Burke & Herbert Financial Services will post 8.19 earnings per share for the current fiscal year.

Burke & Herbert Financial Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Friday, August 14th. Burke & Herbert Financial Services’s dividend payout ratio is presently 35.26%.

Insider Buying and Selling at Burke & Herbert Financial Services

In other Burke & Herbert Financial Services news, Director Julian Forrest Jr. Barnwell bought 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were acquired at an average cost of $62.76 per share, for a total transaction of $313,800.00. Following the acquisition, the director directly owned 26,580 shares of the company’s stock, valued at $1,668,160.80. This trade represents a 23.17% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director Georgette R. George sold 1,000 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $73.67, for a total transaction of $73,670.00. Following the sale, the director directly owned 38,321 shares of the company’s stock, valued at approximately $2,823,108.07. This represents a 2.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have purchased 5,134 shares of company stock worth $323,673 and have sold 5,262 shares worth $376,939. Corporate insiders own 11.99% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BHRB. BlackRock Inc. bought a new position in shares of Burke & Herbert Financial Services in the second quarter valued at $87,556,000. Deutsche Bank AG bought a new stake in shares of Burke & Herbert Financial Services during the 2nd quarter worth $1,111,000. Bank of New York Mellon Corp bought a new stake in shares of Burke & Herbert Financial Services during the 2nd quarter worth $7,555,000. Stonebridge Financial Group LLC acquired a new position in shares of Burke & Herbert Financial Services in the 2nd quarter worth $203,000. Finally, Bank of America Corp DE grew its holdings in shares of Burke & Herbert Financial Services by 68.3% in the 1st quarter. Bank of America Corp DE now owns 32,188 shares of the company’s stock worth $2,005,000 after acquiring an additional 13,063 shares during 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.