Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Receives $72.40 Consensus Target Price from Analysts

Shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) have been given a consensus recommendation of “Hold” by the seven research firms that are currently covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $72.40.

Several research firms have issued reports on BHRB. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Burke & Herbert Financial Services in a research report on Monday, December 29th. Loop Capital set a $74.00 price objective on shares of Burke & Herbert Financial Services in a research note on Wednesday, February 25th. Freedom Capital downgraded shares of Burke & Herbert Financial Services from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 25th. Citigroup cut Burke & Herbert Financial Services to a “hold” rating in a report on Wednesday, February 25th. Finally, Zacks Research lowered Burke & Herbert Financial Services from a “strong-buy” rating to a “hold” rating in a research note on Monday.

Hedge Funds Weigh In On Burke & Herbert Financial Services

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in 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 position in shares of Burke & Herbert Financial Services by 6.7% in the second 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 increased its stake in shares of Burke & Herbert Financial Services by 12.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 317,991 shares of the company’s stock worth $19,814,000 after purchasing an additional 36,027 shares during the period. Hutchinson Capital Management CA increased its stake in shares of Burke & Herbert Financial Services by 0.4% during the third quarter. Hutchinson Capital Management CA now owns 258,080 shares of the company’s stock worth $15,921,000 after purchasing an additional 1,000 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in Burke & Herbert Financial Services by 68.5% during the 4th 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 Stock Performance

Shares of NASDAQ BHRB opened at $65.25 on Monday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a 50 day moving average price of $65.47 and a 200 day moving average price of $63.63. The stock has a market capitalization of $981.36 million, a PE ratio of 8.45 and a beta of 1.02. Burke & Herbert Financial Services has a 52 week low of $47.57 and a 52 week high of $70.90.

Burke & Herbert Financial Services (NASDAQ:BHRB) last announced its quarterly earnings data on Thursday, January 22nd. The company reported $1.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.91 by $0.07. The company had revenue of $86.56 million for the quarter, compared to analysts’ expectations of $80.72 million. Burke & Herbert Financial Services had a return on equity of 14.79% and a net margin of 23.89%. Analysts predict 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 Monday, March 2nd. Investors of record on Friday, February 13th were paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date was Friday, February 13th. Burke & Herbert Financial Services’s dividend payout ratio is 28.50%.

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.