Burke & Herbert Financial Services (NASDAQ:BHRB) Now Covered by DA Davidson

DA Davidson initiated coverage on shares of Burke & Herbert Financial Services (NASDAQ:BHRB) in a research note published on Wednesday, MarketBeat Ratings reports. The brokerage issued a neutral rating and a $75.00 price target on the stock.

Several other research firms also recently weighed in on BHRB. Weiss Ratings restated a “hold (c+)” rating on shares of Burke & Herbert Financial Services in a report on Monday, December 29th. Zacks Research raised shares of Burke & Herbert Financial Services from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $72.40.

Burke & Herbert Financial Services Stock Performance

Shares of NASDAQ:BHRB opened at $66.37 on Wednesday. The firm’s 50 day simple moving average is $65.46 and its 200-day simple moving average is $63.42. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.81 and a current ratio of 0.81. Burke & Herbert Financial Services has a one year low of $47.57 and a one year high of $70.90. The firm has a market cap of $997.54 million, a PE ratio of 8.60 and a beta of 1.02.

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 the consensus estimate 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 15.11% and a net margin of 23.89%. As a group, equities 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 will be paid on Monday, March 2nd. Shareholders of record on Friday, February 13th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Friday, February 13th. Burke & Herbert Financial Services’s payout ratio is currently 28.50%.

Institutional Trading of Burke & Herbert Financial Services

A number of institutional investors have recently made changes to their positions in BHRB. Kestra Advisory Services LLC acquired a new position in Burke & Herbert Financial Services during the 4th quarter valued at about $30,000. State of Alaska Department of Revenue purchased a new position in shares of Burke & Herbert Financial Services in the third quarter worth $37,000. CWM LLC lifted its stake in shares of Burke & Herbert Financial Services by 732.7% during the second quarter. CWM LLC now owns 841 shares of the company’s stock worth $50,000 after buying an additional 740 shares during the period. Aquatic Capital Management LLC purchased a new stake in shares of Burke & Herbert Financial Services during the third quarter valued at $117,000. Finally, PNC Financial Services Group Inc. increased its position in shares of Burke & Herbert Financial Services by 22.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 2,202 shares of the company’s stock valued at $132,000 after acquiring an additional 400 shares during the period.

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.