Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Given Average Recommendation of "Moderate Buy" by Brokerages

Key Points

• Burke & Herbert Financial Services has a consensus analyst rating of “Moderate Buy” from seven analysts, with an average 12-month price target of $71.40. Recent reports were mixed, including downgrades from Citigroup and Zacks Research and an upgrade from Freedom Capital.
• The stock recently traded at $65.49, near its 52-week range of $55.40 to $70.90, and the company sports a $1.32 billion market cap with a relatively low beta of 0.69. It also reported quarterly EPS of $1.87, matching estimates, while revenue came in slightly below forecasts.
• The company pays a quarterly dividend of $0.55 per share, equal to an annualized yield of about 3.4%. Insider buying has also been notable, with directors purchasing shares in recent months and insiders now owning 10.92% of the stock.

Shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the seven analysts that are covering the company, MarketBeat reports. Four analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $71.40.

BHRB has been the subject of a number of recent analyst reports. Citigroup downgraded Burke & Herbert Financial Services to a "hold" rating in a research report on Wednesday, February 25th. Zacks Research downgraded Burke & Herbert Financial Services from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 2nd. Freedom Capital raised Burke & Herbert Financial Services from a "hold" rating to a "strong-buy" rating in a report on Friday, May 15th. Loop Capital set a $74.00 price target on Burke & Herbert Financial Services in a report on Wednesday, February 25th. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of Burke & Herbert Financial Services in a report on Friday, May 8th.

Burke & Herbert Financial Services Stock Performance

BHRB opened at $65.49 on Wednesday. The business has a fifty day simple moving average of $63.68 and a 200 day simple moving average of $64.57. The company has a market capitalization of $1.32 billion, a PE ratio of 8.49 and a beta of 0.69. Burke & Herbert Financial Services has a 1 year low of $55.40 and a 1 year high of $70.90. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.78 and a quick ratio of 0.78.

Burke & Herbert Financial Services (NASDAQ:BHRB - Get Free Report) last released its quarterly earnings results on Thursday, April 23rd. The company reported $1.87 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.87. The business had revenue of $84.70 million during the quarter, compared to the consensus estimate of $86.50 million. Burke & Herbert Financial Services had a return on equity of 14.46% and a net margin of 24.04%. Research analysts expect that Burke & Herbert Financial Services will post 8.33 EPS for the current year.

Burke & Herbert Financial Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were issued a dividend of $0.55 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.4%. Burke & Herbert Financial Services's payout ratio is 28.53%.

Insider Transactions at Burke & Herbert Financial Services

In other news, Director Julian Forrest Jr. Barnwell bought 5,000 shares of the stock in a transaction on Monday, May 11th. The stock was acquired at an average price of $63.05 per share, with a total value of $315,250.00. Following the acquisition, the director directly owned 208,939 shares in the company, valued at approximately $13,173,603.95. This trade represents a 2.45% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Shawn Patrick Mclaughlin bought 1,000 shares of the stock in a transaction on Tuesday, April 28th. The stock was purchased at an average cost of $64.80 per share, with a total value of $64,800.00. Following the acquisition, the director owned 69,000 shares in the company, valued at approximately $4,471,200. This represents a 1.47% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 12,300 shares of company stock worth $774,450 in the last 90 days. 10.92% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Burke & Herbert Financial Services

Institutional investors and hedge funds have recently made changes to their positions in the stock. LSV Asset Management increased its stake in shares of Burke & Herbert Financial Services by 152.5% in the third quarter. LSV Asset Management now owns 40,900 shares of the company's stock valued at $2,523,000 after buying an additional 24,700 shares during the period. Endeavour Capital Advisors Inc. increased its stake in shares of Burke & Herbert Financial Services by 22.0% in 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. Vanguard Group Inc. increased its stake in shares of Burke & Herbert Financial Services by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 779,800 shares of the company's stock valued at $48,589,000 after buying an additional 14,358 shares during the period. Alps Advisors Inc. acquired a new stake in shares of Burke & Herbert Financial Services in the third quarter valued at about $457,000. Finally, Alliance Wealth Strategies LLC d b a Brown Edwards Wealth Strategies purchased a new stake in shares of Burke & Herbert Financial Services in the fourth quarter worth approximately $563,000.

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.

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