Burke & Herbert Financial Services (NASDAQ:BHRB) Hits New 1-Year High – Still a Buy?

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB)’s share price hit a new 52-week high on Friday . The company traded as high as $71.38 and last traded at $71.1050, with a volume of 569646 shares traded. The stock had previously closed at $69.68.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Zacks Research lowered Burke & Herbert Financial Services from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 2nd. DA Davidson restated a “neutral” rating and set a $70.00 target price on shares of Burke & Herbert Financial Services in a research report on Monday, April 27th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Burke & Herbert Financial Services in a research note on Friday, May 8th. Finally, Freedom Capital upgraded Burke & Herbert Financial Services from a “hold” rating to a “strong-buy” rating in a report on Friday, May 15th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Burke & Herbert Financial Services currently has a consensus rating of “Moderate Buy” and a consensus price target of $71.40.

Burke & Herbert Financial Services Trading Up 2.0%

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 stock has a market capitalization of $1.43 billion, a P/E ratio of 9.22 and a beta of 0.69. The firm’s 50 day simple moving average is $64.47 and its two-hundred day simple moving average is $64.75.

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

Burke & Herbert Financial Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 15th were paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Friday, May 15th. Burke & Herbert Financial Services’s dividend payout ratio is 28.53%.

Insider Transactions at Burke & Herbert Financial Services

In other news, Director Jose David Riojas purchased 1,000 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were acquired at an average price of $62.00 per share, for a total transaction of $62,000.00. Following the completion of the acquisition, the director owned 20,000 shares in the company, valued at approximately $1,240,000. The trade was a 5.26% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Shawn Patrick Mclaughlin acquired 1,000 shares of Burke & Herbert Financial Services stock in a transaction on Tuesday, April 28th. The stock was purchased at an average cost of $64.80 per share, with a total value of $64,800.00. Following the purchase, the director directly owned 69,000 shares of the company’s stock, valued at approximately $4,471,200. This trade represents a 1.47% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired a total of 12,300 shares of company stock worth $774,450 in the last three months. Insiders own 11.99% of the company’s stock.

Institutional Trading of Burke & Herbert Financial Services

Several hedge funds have recently bought and sold shares of BHRB. Quantbot Technologies LP increased its stake in Burke & Herbert Financial Services by 8.1% during the 2nd quarter. Quantbot Technologies LP now owns 3,897 shares of the company’s stock valued at $233,000 after purchasing an additional 292 shares in the last quarter. Rhumbline Advisers lifted its stake in shares of Burke & Herbert Financial Services by 1.7% in the second quarter. Rhumbline Advisers now owns 17,961 shares of the company’s stock valued at $1,073,000 after buying an additional 298 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Burke & Herbert Financial Services by 4.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,030 shares of the company’s stock valued at $451,000 after buying an additional 319 shares in the last quarter. EJF Capital LLC grew its holdings in shares of Burke & Herbert Financial Services by 0.9% during the third quarter. EJF Capital LLC now owns 49,850 shares of the company’s stock valued at $3,075,000 after buying an additional 448 shares during the last quarter. Finally, Kestra Advisory Services LLC acquired a new position in shares of Burke & Herbert Financial Services during the fourth quarter valued at about $30,000.

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.