Burke & Herbert Financial Services (NASDAQ:BHRB) Coverage Initiated by Analysts at DA Davidson

Research analysts at DA Davidson assumed coverage on shares of Burke & Herbert Financial Services (NASDAQ:BHRB) in a report released on Wednesday. The firm set a “neutral” rating and a $75.00 price target on the stock. DA Davidson’s price target would indicate a potential upside of 15.08% from the stock’s previous close.

Several other equities research analysts also recently weighed in on BHRB. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Burke & Herbert Financial Services in a research note on Monday, December 29th. Zacks Research raised Burke & Herbert Financial Services from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $72.00.

Burke & Herbert Financial Services Price Performance

BHRB opened at $65.17 on Wednesday. The stock’s 50-day moving average price is $65.52 and its 200 day moving average price is $63.40. Burke & Herbert Financial Services has a 12-month low of $47.57 and a 12-month high of $70.90. The firm has a market cap of $979.51 million, a price-to-earnings ratio of 8.44 and a beta of 1.02. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.11.

Burke & Herbert Financial Services (NASDAQ:BHRB) last issued its quarterly earnings results on Thursday, January 22nd. The company reported $1.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.91 by $0.07. The company had revenue of $86.56 million for the quarter, compared to analyst estimates of $80.72 million. Burke & Herbert Financial Services had a net margin of 23.89% and a return on equity of 15.11%. As a group, sell-side analysts expect that Burke & Herbert Financial Services will post 8.05 earnings per share for the current year.

Institutional Investors Weigh In On Burke & Herbert Financial Services

Several institutional investors have recently modified their holdings of BHRB. Kestra Advisory Services LLC purchased a new position in Burke & Herbert Financial Services in the fourth quarter valued at $30,000. State of Alaska Department of Revenue purchased a new stake in Burke & Herbert Financial Services during the 3rd quarter worth about $37,000. CWM LLC boosted its position in shares of Burke & Herbert Financial Services by 732.7% during the 2nd quarter. CWM LLC now owns 841 shares of the company’s stock worth $50,000 after acquiring an additional 740 shares in the last quarter. Aquatic Capital Management LLC purchased a new position in shares of Burke & Herbert Financial Services in the 3rd quarter valued at about $117,000. Finally, PNC Financial Services Group Inc. raised its position in shares of Burke & Herbert Financial Services by 22.2% during 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.

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.