Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) have received a consensus recommendation of “Hold” from the five brokerages that are covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $71.50.

A number of research firms have recently weighed in on BHRB. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Burke & Herbert Financial Services in a report on Monday, December 29th. DA Davidson lowered shares of Burke & Herbert Financial Services from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. Summit Redstone set a $71.00 price objective on Burke & Herbert Financial Services in a research note on Thursday, October 9th. Finally, Zacks Research upgraded Burke & Herbert Financial Services from a “strong sell” rating to a “hold” rating in a report on Monday, September 29th.

Burke & Herbert Financial Services Stock Down 2.1%

Shares of NASDAQ:BHRB opened at $63.05 on Friday. The company has a 50-day moving average price of $63.97 and a 200 day moving average price of $62.28. Burke & Herbert Financial Services has a 12 month low of $47.57 and a 12 month high of $70.51. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.11. The company has a market cap of $947.64 million, a price-to-earnings ratio of 8.96 and a beta of 1.02.

Burke & Herbert Financial Services (NASDAQ:BHRB) last posted its quarterly earnings results on Friday, January 26th. The company reported $1.82 earnings per share (EPS) for the quarter. The business had revenue of $32.13 million during the quarter. Burke & Herbert Financial Services had a net margin of 21.68% and a return on equity of 14.95%. As a group, equities research analysts predict that Burke & Herbert Financial Services will post 8.05 earnings per share for the current year.

Burke & Herbert Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Friday, November 14th were given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend was Friday, November 14th. Burke & Herbert Financial Services’s dividend payout ratio (DPR) is currently 31.25%.

Insider Activity at Burke & Herbert Financial Services

In other news, Director Shawn Patrick Mclaughlin acquired 1,000 shares of the business’s stock in a transaction dated Tuesday, October 28th. The stock was bought at an average cost of $61.00 per share, for a total transaction of $61,000.00. Following the completion of the transaction, the director owned 67,000 shares of the company’s stock, valued at $4,087,000. The trade was a 1.52% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 10.92% of the stock is owned by insiders.

Institutional Trading of Burke & Herbert Financial Services

Large investors have recently added to or reduced their stakes in the business. Atlantic Union Bankshares Corp purchased a new position in shares of Burke & Herbert Financial Services during the second quarter valued at $591,000. Brookstone Capital Management acquired a new position in shares of Burke & Herbert Financial Services during the 3rd quarter worth about $1,102,000. Goldman Sachs Group Inc. lifted its stake in Burke & Herbert Financial Services by 16.4% in the first quarter. Goldman Sachs Group Inc. now owns 71,849 shares of the company’s stock worth $4,031,000 after acquiring an additional 10,117 shares during the last quarter. LSV Asset Management purchased a new position in Burke & Herbert Financial Services in the second quarter valued at $968,000. Finally, Burke & Herbert Bank & Trust Co. lifted its stake in Burke & Herbert Financial Services by 3.1% during the second quarter. Burke & Herbert Bank & Trust Co. now owns 259,495 shares of the company’s stock worth $15,500,000 after purchasing an additional 7,800 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.