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

Shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) have received a consensus rating of “Hold” from the seven brokerages that are presently covering the company, Marketbeat.com reports. Five analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $72.40.

A number of equities analysts have commented on BHRB shares. Freedom Capital cut Burke & Herbert Financial Services from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 25th. Zacks Research lowered Burke & Herbert Financial Services from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 2nd. Loop Capital set a $74.00 target price on shares of Burke & Herbert Financial Services in a report on Wednesday, February 25th. Citigroup downgraded shares of Burke & Herbert Financial Services to a “hold” rating in a research note on Wednesday, February 25th. Finally, DA Davidson assumed coverage on shares of Burke & Herbert Financial Services in a research report on Wednesday, February 25th. They set a “neutral” rating and a $75.00 price target for the company.

Institutional Trading of Burke & Herbert Financial Services

Several large investors have recently modified their holdings of BHRB. Vanguard Group Inc. lifted its stake in Burke & Herbert Financial Services by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 779,800 shares of the company’s stock worth $48,589,000 after acquiring an additional 14,358 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Burke & Herbert Financial Services by 12.8% in the 4th 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 boosted its stake in shares of Burke & Herbert Financial Services by 0.4% during the 3rd 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 in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of 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 valued at $10,235,000 after purchasing an additional 66,778 shares in the last quarter. Finally, Endeavour Capital Advisors Inc. increased its position in shares of Burke & Herbert Financial Services by 22.0% during the fourth quarter. Endeavour Capital Advisors Inc. now owns 125,323 shares of the company’s stock valued at $7,809,000 after buying an additional 22,601 shares during the period.

Burke & Herbert Financial Services Stock Up 0.1%

Shares of NASDAQ:BHRB opened at $64.50 on Tuesday. The stock’s 50-day moving average price is $64.18 and its 200-day moving average price is $63.86. Burke & Herbert Financial Services has a 12-month low of $50.61 and a 12-month high of $70.90. The stock has a market capitalization of $970.08 million, a P/E ratio of 8.35 and a beta of 0.98. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.10.

Burke & Herbert Financial Services (NASDAQ:BHRB) last released its earnings results on Friday, April 24th. The company reported $1.87 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.87. The company had revenue of $84.70 million during the quarter, compared to analyst estimates of $86.50 million. Burke & Herbert Financial Services had a return on equity of 14.79% and a net margin of 23.89%. On average, equities analysts anticipate that Burke & Herbert Financial Services will post 8.15 earnings per share for the current year.

Burke & Herbert Financial Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Friday, May 15th will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend is Friday, May 15th. 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.