Brokerages Set Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) PT at $71.50

Shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) have been given an average recommendation of “Moderate Buy” by the five brokerages that are covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $71.50.

BHRB has been the topic of a number of recent analyst reports. DA Davidson downgraded Burke & Herbert Financial Services from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Burke & Herbert Financial Services in a research note on Monday, December 29th. Finally, Zacks Research raised shares of Burke & Herbert Financial Services from a “hold” rating to a “strong-buy” rating in a report on Friday, January 30th.

Burke & Herbert Financial Services Price Performance

Shares of BHRB opened at $69.70 on Thursday. The firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of 9.03 and a beta of 1.02. The firm’s fifty day simple moving average is $65.43 and its 200-day simple moving average is $62.65. Burke & Herbert Financial Services has a twelve month low of $47.57 and a twelve 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.

Burke & Herbert Financial Services (NASDAQ:BHRB) last posted its earnings results on Thursday, January 22nd. The company reported $1.98 EPS for the quarter, beating the consensus estimate of $1.91 by $0.07. Burke & Herbert Financial Services had a return on equity of 15.11% and a net margin of 23.89%.The firm had revenue of $86.56 million for the quarter, compared to analyst estimates of $80.72 million. Equities analysts forecast that Burke & Herbert Financial Services will post 8.05 EPS for the current fiscal year.

Burke & Herbert Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Friday, February 13th will be given a $0.55 dividend. The ex-dividend date of this dividend is Friday, February 13th. This represents a $2.20 dividend on an annualized basis and a yield of 3.2%. Burke & Herbert Financial Services’s payout ratio is 28.50%.

Institutional Trading of Burke & Herbert Financial Services

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. State of Alaska Department of Revenue purchased a new position in Burke & Herbert Financial Services during the 3rd quarter worth approximately $37,000. CWM LLC boosted its holdings in shares of Burke & Herbert Financial Services by 732.7% in the second quarter. CWM LLC now owns 841 shares of the company’s stock valued at $50,000 after acquiring an additional 740 shares during the period. Aquatic Capital Management LLC purchased a new position in shares of Burke & Herbert Financial Services during the third quarter worth approximately $117,000. PNC Financial Services Group Inc. grew its position in shares of Burke & Herbert Financial Services by 22.2% during the second 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 during the last quarter. Finally, First United Bank & Trust increased its holdings in shares of Burke & Herbert Financial Services by 96.3% in the 3rd quarter. First United Bank & Trust now owns 2,261 shares of the company’s stock valued at $139,000 after acquiring an additional 1,109 shares during the period.

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.