Burke & Herbert Financial Services Corp. Plans Quarterly Dividend of $0.55 (NASDAQ:BHRB)

Key Points

• Burke & Herbert Financial Services Corp. declared a quarterly dividend of $0.55 per share, set to be paid to stockholders of record on November 14th and disbursed on December 1st, resulting in an annualized dividend yield of 3.6%.
• The company has a dividend payout ratio of 28.0%, indicating that its dividend is well-covered by earnings.
• Equities analysts have mixed ratings on the stock, with two rating it a Buy and three issuing a Hold rating, and an average target price of $71.50.

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB - Get Free Report) declared a quarterly dividend on Thursday, October 23rd. Stockholders of record on Friday, November 14th will be paid a dividend of 0.55 per share on Monday, December 1st. This represents a c) annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Friday, November 14th.

Burke & Herbert Financial Services has a dividend payout ratio of 28.0% meaning its dividend is sufficiently covered by earnings.

Burke & Herbert Financial Services Stock Performance

Shares of BHRB stock opened at $60.98 on Friday. Burke & Herbert Financial Services has a one year low of $47.57 and a one year high of $75.32. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.82 and a current ratio of 0.82. The firm's 50 day moving average price is $61.55 and its 200-day moving average price is $58.90. The firm has a market cap of $915.92 million, a P/E ratio of 8.85 and a beta of 1.11.

Burke & Herbert Financial Services (NASDAQ:BHRB - Get Free Report) last issued its quarterly earnings results on Friday, January 26th. The company reported $1.82 earnings per share (EPS) for the quarter. Burke & Herbert Financial Services had a net margin of 20.93% and a return on equity of 15.39%. The business had revenue of $32.13 million for the quarter. As a group, equities research analysts predict that Burke & Herbert Financial Services will post 8.05 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Weiss Ratings reiterated a "hold (c+)" rating on shares of Burke & Herbert Financial Services in a research note on Wednesday, October 8th. Janney Montgomery Scott began coverage on shares of Burke & Herbert Financial Services in a research note on Thursday, July 10th. They issued a "buy" rating and a $70.00 price objective for the company. Keefe, Bruyette & Woods raised their price objective on Burke & Herbert Financial Services from $70.00 to $72.00 and gave the stock an "outperform" rating in a report on Monday, July 28th. Summit Redstone set a $71.00 target price on Burke & Herbert Financial Services in a report on Thursday, October 9th. Finally, DA Davidson downgraded Burke & Herbert Financial Services from a "strong-buy" rating to a "hold" rating in a research note on Monday. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $71.50.

About Burke & Herbert Financial Services

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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