Burke & Herbert Financial Services’ (BHRB) “Neutral” Rating Reaffirmed at DA Davidson

DA Davidson restated their neutral rating on shares of Burke & Herbert Financial Services (NASDAQ:BHRB) in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a $70.00 price target on the stock.

Several other research analysts also recently weighed in on the stock. Loop Capital set a $74.00 target price on shares of Burke & Herbert Financial Services in a report on Wednesday, February 25th. Freedom Capital downgraded shares of Burke & Herbert Financial Services from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 25th. Zacks Research downgraded shares of Burke & Herbert Financial Services from a “strong-buy” rating to a “hold” rating in a report on Monday, March 2nd. Weiss Ratings reissued a “hold (c+)” rating on shares of Burke & Herbert Financial Services in a report on Monday, December 29th. Finally, Citigroup downgraded shares of Burke & Herbert Financial Services to a “hold” rating in a report on Wednesday, February 25th. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Burke & Herbert Financial Services currently has an average rating of “Hold” and a consensus target price of $71.40.

Burke & Herbert Financial Services Trading Up 0.2%

Shares of Burke & Herbert Financial Services stock opened at $64.10 on Monday. The company has a market capitalization of $964.06 million, a P/E ratio of 8.31 and a beta of 0.98. 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 company has a fifty day moving average of $64.01 and a 200 day moving average of $63.96. Burke & Herbert Financial Services has a fifty-two week low of $51.54 and a fifty-two week high of $70.90.

Burke & Herbert Financial Services (NASDAQ:BHRB) last issued its earnings results on Thursday, April 23rd. The company reported $1.87 earnings per share for the quarter, hitting the consensus estimate of $1.87. The company had revenue of $84.70 million during the quarter, compared to the consensus estimate of $86.50 million. Burke & Herbert Financial Services had a net margin of 24.04% and a return on equity of 14.66%. On average, sell-side analysts anticipate that Burke & Herbert Financial Services will post 8.15 earnings per share for the current fiscal year.

Burke & Herbert Financial Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 15th will be issued 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 28.53%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in BHRB. Goldman Sachs Group Inc. boosted its holdings 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 during the last quarter. Bridgeway Capital Management LLC boosted its holdings in shares of Burke & Herbert Financial Services by 235.4% during the 4th quarter. Bridgeway Capital Management LLC now owns 81,653 shares of the company’s stock valued at $5,088,000 after purchasing an additional 57,306 shares during the last quarter. Endeavour Capital Advisors Inc. boosted its holdings in shares of Burke & Herbert Financial Services by 65.9% during the 3rd quarter. Endeavour Capital Advisors Inc. now owns 102,722 shares of the company’s stock valued at $6,337,000 after purchasing an additional 40,809 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of 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 buying an additional 36,027 shares in the last quarter. Finally, Empowered Funds LLC raised its position in shares of Burke & Herbert Financial Services by 122.0% during the 4th quarter. Empowered Funds LLC now owns 46,053 shares of the company’s stock valued at $2,870,000 after buying an additional 25,306 shares in 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.