Burke & Herbert Financial Services (NASDAQ:BHRB) Cut to “Hold” at Zacks Research

Zacks Research lowered shares of Burke & Herbert Financial Services (NASDAQ:BHRB) from a strong-buy rating to a hold rating in a research report sent to investors on Monday,Zacks.com reports.

Several other research analysts have also commented on BHRB. Loop Capital set a $74.00 price objective on shares of Burke & Herbert Financial Services in a report on Wednesday, February 25th. Citigroup cut shares of Burke & Herbert Financial Services to a “hold” rating in a research report on Wednesday, February 25th. DA Davidson assumed coverage on shares of Burke & Herbert Financial Services in a report on Wednesday, February 25th. They issued a “neutral” rating and a $75.00 price objective for the company. Freedom Capital cut Burke & Herbert Financial Services from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 25th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Burke & Herbert Financial Services in a research report on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $72.40.

Burke & Herbert Financial Services Trading Down 0.8%

BHRB opened at $65.25 on Monday. Burke & Herbert Financial Services has a one year low of $47.57 and a one year high of $70.90. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.81 and a quick ratio of 0.81. The business has a 50 day simple moving average of $65.47 and a two-hundred day simple moving average of $63.63. The firm has a market capitalization of $981.36 million, a price-to-earnings ratio of 8.45 and a beta of 1.02.

Burke & Herbert Financial Services (NASDAQ:BHRB) last issued its quarterly earnings data on Thursday, January 22nd. The company reported $1.98 earnings per share for the quarter, topping analysts’ consensus estimates of $1.91 by $0.07. The firm had revenue of $86.56 million for the quarter, compared to analyst estimates 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 EPS for the current year.

Burke & Herbert Financial Services Dividend Announcement

The company 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. The ex-dividend date was Friday, February 13th. This represents a $2.20 dividend on an annualized basis and a yield of 3.4%. Burke & Herbert Financial Services’s payout ratio is presently 28.50%.

Institutional Trading of Burke & Herbert Financial Services

Institutional investors and hedge funds have recently bought and sold shares of the company. Atlantic Union Bankshares Corp bought a new stake in shares of Burke & Herbert Financial Services during the second quarter valued at approximately $591,000. Brookstone Capital Management purchased a new stake in Burke & Herbert Financial Services during the 3rd quarter valued at $1,102,000. LSV Asset Management boosted its stake in Burke & Herbert Financial Services by 152.5% during the 3rd quarter. LSV Asset Management now owns 40,900 shares of the company’s stock valued at $2,523,000 after purchasing an additional 24,700 shares during the last quarter. Endeavour Capital Advisors Inc. increased its holdings in shares of Burke & Herbert Financial Services by 65.9% in the 3rd quarter. Endeavour Capital Advisors Inc. now owns 102,722 shares of the company’s stock worth $6,337,000 after purchasing an additional 40,809 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in shares of Burke & Herbert Financial Services by 135.6% in the second quarter. American Century Companies Inc. now owns 122,649 shares of the company’s stock worth $7,326,000 after purchasing an additional 70,582 shares during the last quarter.

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.