Burke & Herbert Financial Services (NASDAQ:BHRB) Issues Earnings Results, Beats Expectations By $0.09 EPS

Key Points

• Burke & Herbert Financial Services reported a quarterly earnings per share (EPS) of $1.97, exceeding estimates by $0.09.
• The company has a net margin of 20.93% and a return on equity of 15.39%, indicating strong financial performance.
• Brokerages are mixed on the stock, with a consensus rating of "Hold" and an average price target of $71.50, amidst recent upgrades and downgrades from various analysts.

Burke & Herbert Financial Services (NASDAQ:BHRB - Get Free Report) released its quarterly earnings results on Thursday. The company reported $1.97 EPS for the quarter, beating analysts' consensus estimates of $1.88 by $0.09, Zacks reports. Burke & Herbert Financial Services had a net margin of 20.93% and a return on equity of 15.39%.

Burke & Herbert Financial Services Trading Down 0.3%

Shares of BHRB stock traded down $0.17 on Thursday, hitting $60.98. The stock had a trading volume of 56,812 shares, compared to its average volume of 52,176. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market capitalization of $915.92 million, a P/E ratio of 8.85 and a beta of 1.11. Burke & Herbert Financial Services has a 1 year low of $47.57 and a 1 year high of $75.32. The company's 50 day moving average price is $61.53 and its 200-day moving average price is $58.82.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on BHRB. Janney Montgomery Scott initiated coverage on shares of 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. Weiss Ratings reissued a "hold (c+)" rating on shares of Burke & Herbert Financial Services in a research report on Wednesday, October 8th. DA Davidson cut shares of Burke & Herbert Financial Services from a "strong-buy" rating to a "hold" rating in a report on Monday. Wall Street Zen cut shares of Burke & Herbert Financial Services from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Finally, Zacks Research upgraded shares of Burke & Herbert Financial Services from a "strong sell" rating to a "hold" rating in a research note on Monday, September 29th. Two equities research 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 stock presently has a consensus rating of "Hold" and an average price target of $71.50.

Institutional Investors Weigh In On Burke & Herbert Financial Services

Several large investors have recently bought and sold shares of BHRB. Jane Street Group LLC acquired a new stake in shares of Burke & Herbert Financial Services in the 1st quarter valued at about $1,287,000. Marshall Wace LLP raised its stake in shares of Burke & Herbert Financial Services by 18.6% during the 2nd quarter. Marshall Wace LLP now owns 90,664 shares of the company's stock worth $5,415,000 after buying an additional 14,217 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Burke & Herbert Financial Services by 32.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 49,511 shares of the company's stock worth $2,957,000 after buying an additional 12,057 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of 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 worth $4,031,000 after buying an additional 10,117 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its stake in shares of Burke & Herbert Financial Services by 169.6% during the 2nd quarter. BNP Paribas Financial Markets now owns 13,688 shares of the company's stock worth $818,000 after buying an additional 8,610 shares in the last quarter.

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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