Burke & Herbert Financial Services (NASDAQ:BHRB) Rating Lowered to “Hold” at Freedom Capital

Burke & Herbert Financial Services (NASDAQ:BHRB) was downgraded by investment analysts at Freedom Capital from a “strong-buy” rating to a “hold” rating in a research note issued on Wednesday,Zacks.com reports.

A number of other research analysts also recently issued reports on BHRB. DA Davidson started coverage on Burke & Herbert Financial Services in a report on Wednesday. They issued a “neutral” rating and a $75.00 price target on the stock. Citigroup downgraded Burke & Herbert Financial Services to a “hold” rating in a research report on Wednesday. Zacks Research upgraded shares of Burke & Herbert Financial Services from a “hold” rating to a “strong-buy” rating in a report on Friday, January 30th. Weiss Ratings reissued a “hold (c+)” rating on shares of Burke & Herbert Financial Services in a research report on Monday, December 29th. Finally, Loop Capital set a $74.00 price objective on shares of Burke & Herbert Financial Services in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Burke & Herbert Financial Services has an average rating of “Moderate Buy” and a consensus price target of $72.40.

Burke & Herbert Financial Services Trading Up 0.8%

NASDAQ BHRB opened at $66.87 on Wednesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of 8.66 and a beta of 1.02. The company’s 50-day simple moving average is $65.40 and its two-hundred day simple moving average is $63.45. Burke & Herbert Financial Services has a one year low of $47.57 and a one year high of $70.90.

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

Institutional Investors Weigh In On Burke & Herbert Financial Services

Several institutional investors and hedge funds have recently made changes to their positions in BHRB. Vanguard Group Inc. increased its position in shares of Burke & Herbert Financial Services by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 779,800 shares of the company’s stock valued at $48,589,000 after acquiring an additional 14,358 shares during the period. Geode Capital Management LLC grew its stake in Burke & Herbert Financial Services by 6.7% during the 2nd quarter. Geode Capital Management LLC now owns 337,425 shares of the company’s stock valued at $20,155,000 after purchasing an additional 21,258 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Burke & Herbert Financial Services by 12.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 317,991 shares of the company’s stock valued at $19,814,000 after purchasing an additional 36,027 shares during the last quarter. Hutchinson Capital Management CA increased its holdings in shares of Burke & Herbert Financial Services by 0.4% in the third quarter. Hutchinson Capital Management CA now owns 258,080 shares of the company’s stock valued at $15,921,000 after purchasing an additional 1,000 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in shares of Burke & Herbert Financial Services by 68.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 164,263 shares of the company’s stock worth $10,235,000 after purchasing an additional 66,778 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.