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

Key Points

• Burke & Herbert Financial Services has a consensus analyst rating of "Moderate Buy" from seven brokers, with an average 1-year price target of $71.40.
• The company recently reported quarterly earnings of $1.87 per share, matching expectations, while revenue of $84.7 million came in slightly below estimates.
• Burke & Herbert also paid a quarterly dividend of $0.55 per share, representing a 3.1% yield, and insiders have been buying shares recently.

Shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB - Get Free Report) have received an average rating of "Moderate Buy" from the seven brokerages that are presently covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $71.40.

Several analysts have issued reports on BHRB shares. DA Davidson restated a "neutral" rating and issued a $70.00 target price on shares of Burke & Herbert Financial Services in a research note on Monday, April 27th. Weiss Ratings upgraded Burke & Herbert Financial Services from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, June 29th. Finally, Freedom Capital raised shares of Burke & Herbert Financial Services from a "hold" rating to a "strong-buy" rating in a report on Friday, May 15th.

Burke & Herbert Financial Services Stock Performance

NASDAQ BHRB opened at $70.15 on Friday. The company has a market capitalization of $1.41 billion, a PE ratio of 9.10 and a beta of 0.58. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.78 and a current ratio of 0.78. Burke & Herbert Financial Services has a 52-week low of $56.11 and a 52-week high of $73.69. The company has a 50-day simple moving average of $65.08 and a 200 day simple moving average of $64.86.

Burke & Herbert Financial Services (NASDAQ:BHRB - Get Free Report) last released its earnings results on Thursday, April 23rd. The company reported $1.87 earnings per share for the quarter, meeting analysts' consensus estimates of $1.87. The firm 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 14.46%. On average, research analysts predict that Burke & Herbert Financial Services will post 8.33 EPS for the current year.

Burke & Herbert Financial Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 15th were paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date was Friday, May 15th. Burke & Herbert Financial Services's dividend payout ratio is presently 28.53%.

Insider Buying and Selling at Burke & Herbert Financial Services

In related news, Director Jose David Riojas acquired 1,000 shares of the company's stock in a transaction that occurred on Tuesday, May 12th. The shares were acquired at an average price of $62.00 per share, with a total value of $62,000.00. Following the acquisition, the director owned 20,000 shares of the company's stock, valued at approximately $1,240,000. This trade represents a 5.26% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Shawn Patrick Mclaughlin bought 1,000 shares of the business's stock in a transaction on Tuesday, April 28th. The stock was bought at an average price of $64.80 per share, with a total value of $64,800.00. Following the purchase, the director owned 69,000 shares in the company, valued at $4,471,200. This trade represents a 1.47% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 12,300 shares of company stock valued at $774,450 in the last quarter. Corporate insiders own 11.99% of the company's stock.

Institutional Investors Weigh In On Burke & Herbert Financial Services

A number of institutional investors and hedge funds have recently modified their holdings of the company. Quantbot Technologies LP boosted its position in shares of Burke & Herbert Financial Services by 8.1% in the second quarter. Quantbot Technologies LP now owns 3,897 shares of the company's stock valued at $233,000 after acquiring an additional 292 shares during the period. Rhumbline Advisers increased its holdings in Burke & Herbert Financial Services by 1.7% during the 2nd quarter. Rhumbline Advisers now owns 17,961 shares of the company's stock worth $1,073,000 after acquiring an additional 298 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Burke & Herbert Financial Services by 4.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,030 shares of the company's stock worth $451,000 after purchasing an additional 319 shares in the last quarter. Kestra Advisory Services LLC bought a new position in Burke & Herbert Financial Services in the 4th quarter valued at $30,000. Finally, Swiss National Bank boosted its holdings in Burke & Herbert Financial Services by 1.9% in the 4th quarter. Swiss National Bank now owns 26,600 shares of the company's stock valued at $1,657,000 after purchasing an additional 500 shares during the period.

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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