Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Receives Consensus Rating of "Hold" from Brokerages

Key Points

• Burke & Herbert Financial Services has a consensus rating of “Hold” from seven analysts, with five holds and two buys. The average 12-month price target among covered firms is $71.40.
• The company most recently reported earnings of $1.87 per share, matching analyst expectations, while revenue came in slightly below estimates at $84.7 million. Analysts are forecasting 8.33 EPS for the current fiscal year.
• Burke & Herbert also announced a quarterly dividend of $0.55 per share, or $2.20 annually, for a yield of about 3.6%. Insiders have been buying shares recently, including two directors who increased their holdings in the past few weeks.

Shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB - Get Free Report) have earned a consensus recommendation of "Hold" from the seven ratings firms that are currently covering the company, Marketbeat reports. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $71.40.

A number of analysts have recently weighed in on the stock. DA Davidson restated a "neutral" rating and issued a $70.00 target price on shares of Burke & Herbert Financial Services in a report on Monday, April 27th. 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. Weiss Ratings restated a "hold (c+)" rating on shares of Burke & Herbert Financial Services in a report on Friday, May 8th. Finally, 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.

Burke & Herbert Financial Services Stock Performance

Burke & Herbert Financial Services stock opened at $61.47 on Friday. The company's 50-day moving average price is $63.22 and its 200-day moving average price is $64.20. Burke & Herbert Financial Services has a twelve month low of $54.45 and a twelve month high of $70.90. The company has a quick ratio of 0.81, a current ratio of 0.78 and a debt-to-equity ratio of 0.10. The company has a market cap of $1.24 billion, a PE ratio of 7.97 and a beta of 0.74.

Burke & Herbert Financial Services (NASDAQ:BHRB - Get Free Report) last posted its earnings results on Thursday, April 23rd. The company reported $1.87 earnings per share for the quarter, hitting analysts' consensus estimates of $1.87. Burke & Herbert Financial Services had a net margin of 24.04% and a return on equity of 14.46%. The firm had revenue of $84.70 million for the quarter, compared to the consensus estimate of $86.50 million. On average, equities research analysts forecast that Burke & Herbert Financial Services will post 8.33 EPS for the current fiscal year.

Burke & Herbert Financial Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Friday, May 15th will be issued a $0.55 dividend. The ex-dividend date is Friday, May 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.6%. Burke & Herbert Financial Services's payout ratio is 28.53%.

Insider Activity at Burke & Herbert Financial Services

In other news, Director Shawn Patrick Mclaughlin purchased 1,000 shares of the business's stock in a transaction that occurred on Tuesday, April 28th. The shares were bought at an average cost of $64.80 per share, for a total transaction of $64,800.00. Following the acquisition, the director owned 69,000 shares of the company's stock, valued at approximately $4,471,200. This trade represents a 1.47% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Julian Forrest Jr. Barnwell purchased 5,000 shares of the business's stock in a transaction that occurred on Monday, May 11th. The shares were purchased at an average price of $63.05 per share, for a total transaction of $315,250.00. Following the completion of the acquisition, the director directly owned 208,939 shares in the company, valued at $13,173,603.95. The trade was a 2.45% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have bought 7,300 shares of company stock worth $460,650. Insiders own 10.92% of the company's stock.

Hedge Funds Weigh In On Burke & Herbert Financial Services

Several hedge funds have recently added to or reduced their stakes in BHRB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Burke & Herbert Financial Services by 4.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,030 shares of the company's stock valued at $451,000 after purchasing an additional 319 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Burke & Herbert Financial Services by 16.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 71,849 shares of the company's stock valued at $4,031,000 after purchasing an additional 10,117 shares during the last quarter. Jane Street Group LLC bought a new position in Burke & Herbert Financial Services during the 1st quarter valued at about $1,287,000. JPMorgan Chase & Co. grew its holdings in Burke & Herbert Financial Services by 32.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 49,511 shares of the company's stock valued at $2,957,000 after purchasing an additional 12,057 shares during the last quarter. Finally, Legal & General Group Plc grew its holdings in Burke & Herbert Financial Services by 4.2% during the 2nd quarter. Legal & General Group Plc now owns 13,389 shares of the company's stock valued at $798,000 after purchasing an additional 538 shares during the last quarter.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.