Burke & Herbert Financial Services (NASDAQ:BHRB) Upgraded at Zacks Research

Zacks Research upgraded shares of Burke & Herbert Financial Services (NASDAQ:BHRB) from a strong sell rating to a hold rating in a research note issued to investors on Monday morning,Zacks.com reports.

Several other analysts have also commented on the stock. Keefe, Bruyette & Woods increased their target price on shares of Burke & Herbert Financial Services from $70.00 to $72.00 and gave the company an “outperform” rating in a research note on Monday, July 28th. DA Davidson upped their price target on shares of Burke & Herbert Financial Services from $69.00 to $73.00 and gave the company a “buy” rating in a research report on Monday, July 28th. Janney Montgomery Scott assumed coverage on shares of Burke & Herbert Financial Services in a research report on Thursday, July 10th. They issued a “buy” rating and a $70.00 price target for the company. Finally, Wall Street Zen downgraded shares of Burke & Herbert Financial Services from a “buy” rating to a “hold” rating in a research report on Saturday, July 26th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $71.67.

Burke & Herbert Financial Services Stock Down 1.6%

BHRB stock opened at $60.71 on Monday. Burke & Herbert Financial Services has a 12 month low of $47.57 and a 12 month high of $75.32. The firm has a market cap of $911.86 million, a PE ratio of 8.81 and a beta of 1.11. The firm has a 50 day simple moving average of $61.27 and a 200 day simple moving average of $58.49. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.82 and a quick ratio of 0.82.

Burke & Herbert Financial Services (NASDAQ:BHRB) last released its earnings results on Thursday, July 24th. The company reported $1.97 EPS for the quarter, beating the consensus estimate of $1.85 by $0.12. Burke & Herbert Financial Services had a net margin of 20.93% and a return on equity of 15.39%. The business had revenue of $87.11 million during the quarter, compared to analyst estimates of $86.06 million. Equities research analysts forecast that Burke & Herbert Financial Services will post 8.05 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 Tuesday, September 2nd. Stockholders of record on Friday, August 15th were paid a dividend of $0.55 per share. The ex-dividend date was Friday, August 15th. This represents a $2.20 annualized dividend and a dividend yield of 3.6%. Burke & Herbert Financial Services’s dividend payout ratio is 31.93%.

Institutional Trading of Burke & Herbert Financial Services

Several large investors have recently modified their holdings of BHRB. Hotchkis & Wiley Capital Management LLC bought a new stake in shares of Burke & Herbert Financial Services during the 1st quarter worth $5,762,000. Fourthstone LLC boosted its holdings in Burke & Herbert Financial Services by 430.0% in the 2nd quarter. Fourthstone LLC now owns 113,508 shares of the company’s stock valued at $6,780,000 after purchasing an additional 92,091 shares during the period. American Century Companies Inc. boosted its holdings in Burke & Herbert Financial Services by 135.6% in the 2nd quarter. American Century Companies Inc. now owns 122,649 shares of the company’s stock valued at $7,326,000 after purchasing an additional 70,582 shares during the period. AA Financial Advisors LLC bought a new stake in Burke & Herbert Financial Services in the 1st quarter valued at $1,749,000. Finally, Segall Bryant & Hamill LLC bought a new stake in Burke & Herbert Financial Services in the 1st quarter valued at $1,723,000.

About Burke & Herbert Financial Services

Burke Herbert Financial Services Corp. is a bank holding company, which engages in the provision of banking products and financial services to small to medium-sized businesses, their owners and employees, professional corporations, non-profits, and individuals. It operates through the following loan portfolio segments: Commercial Real Estate, Owner-Occupied Commercial Real Estate, Acquisition, Construction, and Development, Commercial and Industrial, Single Family Residential (1-4 Units), and Consumer Non-Real Estate and Other.