Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Receives Average Rating of "Moderate Buy" from Analysts

Key Points

• Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) is rated a "Moderate Buy" by analysts, with one hold and three buy recommendations.
• The company recently reported earnings per share of $1.97, exceeding expectations and achieving a net margin of 20.93%.
• Burke & Herbert disclosed a quarterly dividend of $0.55 per share, translating to an annualized dividend yield of 3.7%.

Shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB - Get Free Report) have been given an average recommendation of "Moderate Buy" by the four analysts that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $71.6667.

A number of research analysts recently commented on BHRB shares. Janney Montgomery Scott started coverage on Burke & Herbert Financial Services in a report on Thursday, July 10th. They issued a "buy" rating and a $70.00 price objective on the stock. Wall Street Zen cut Burke & Herbert Financial Services from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Keefe, Bruyette & Woods upped their price target on Burke & Herbert Financial Services from $70.00 to $72.00 and gave the stock an "outperform" rating in a research note on Monday, July 28th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Burke & Herbert Financial Services in a research report on Saturday, September 27th. Finally, Zacks Research raised Burke & Herbert Financial Services from a "strong sell" rating to a "hold" rating in a research report on Monday.

Burke & Herbert Financial Services Stock Performance

Shares of NASDAQ BHRB traded up $0.58 during trading on Friday, reaching $60.26. 38,907 shares of the company traded hands, compared to its average volume of 52,928. The firm's fifty day simple moving average is $61.20 and its 200 day simple moving average is $58.49. The stock has a market cap of $905.11 million, a P/E ratio of 8.75 and a beta of 1.11. Burke & Herbert Financial Services has a 12-month low of $47.57 and a 12-month high of $75.32. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.15.

Burke & Herbert Financial Services (NASDAQ:BHRB - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The company reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.12. Burke & Herbert Financial Services had a return on equity of 15.39% and a net margin of 20.93%.The firm had revenue of $87.11 million during the quarter, compared to analyst estimates of $86.06 million. As a group, research analysts anticipate that Burke & Herbert Financial Services will post 8.05 earnings per share for the current fiscal year.

Burke & Herbert Financial Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Friday, August 15th were issued a dividend of $0.55 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $2.20 annualized dividend and a dividend yield of 3.7%. Burke & Herbert Financial Services's dividend payout ratio (DPR) is presently 31.93%.

Institutional Investors Weigh In On Burke & Herbert Financial Services

Several hedge funds have recently made changes to their positions in BHRB. EJF Capital LLC increased its stake in shares of Burke & Herbert Financial Services by 7.0% during the 1st quarter. EJF Capital LLC now owns 64,368 shares of the company's stock worth $3,612,000 after purchasing an additional 4,210 shares in the last quarter. AA Financial Advisors LLC purchased a new position in shares of Burke & Herbert Financial Services during the 1st quarter worth approximately $1,749,000. Nuveen LLC purchased a new position in shares of Burke & Herbert Financial Services during the 1st quarter worth approximately $1,685,000. Hsbc Holdings PLC purchased a new stake in Burke & Herbert Financial Services in the 1st quarter worth approximately $221,000. Finally, Vanguard Group Inc. grew its stake in Burke & Herbert Financial Services by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 740,512 shares of the company's stock worth $41,550,000 after acquiring an additional 8,349 shares during the period.

Burke & Herbert Financial Services Company Profile

Burke Herbert Financial Services Corp. is a bank holding company, which engages in the provision of banking products and financial services to small to medium-sized businesses, their owners and employees, professional corporations, non-profits, and individuals. It operates through the following loan portfolio segments: Commercial Real Estate, Owner-Occupied Commercial Real Estate, Acquisition, Construction, and Development, Commercial and Industrial, Single Family Residential (1-4 Units), and Consumer Non-Real Estate and Other.

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