Burke & Herbert Financial Services (NASDAQ:BHRB) Posts Earnings Results, Beats Estimates By $0.05 EPS

Key Points

• Burke & Herbert Financial Services beat quarterly earnings estimates, reporting EPS of $2.03 versus the $1.98 consensus, while posting a net margin of 24.04% and return on equity of 14.46%.
• The stock slipped slightly after the report, trading down 0.3% to $70.77 on lighter-than-average volume. Shares remain near their 52-week high of $73.69 and above both the 50-day and 200-day moving averages.
• Insiders have been buying shares, including two directors who made recent purchases, and institutional investors such as Vanguard, Dimensional Fund Advisors, and Goldman Sachs also increased their stakes.

Burke & Herbert Financial Services (NASDAQ:BHRB - Get Free Report) announced its quarterly earnings results on Thursday. The company reported $2.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.98 by $0.05, FiscalAI reports. Burke & Herbert Financial Services had a net margin of 24.04% and a return on equity of 14.46%.

Burke & Herbert Financial Services Trading Down 0.3%

Shares of BHRB stock traded down $0.24 on Thursday, reaching $70.77. 103,893 shares of the stock were exchanged, compared to its average volume of 133,101. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.10. The stock has a market cap of $1.43 billion, a P/E ratio of 9.18 and a beta of 0.58. The firm has a 50 day moving average of $66.91 and a two-hundred day moving average of $65.35. Burke & Herbert Financial Services has a 1-year low of $56.11 and a 1-year high of $73.69.

Insider Transactions at Burke & Herbert Financial Services

In other Burke & Herbert Financial Services news, Director Julian Forrest Jr. Barnwell purchased 5,000 shares of Burke & Herbert Financial Services stock in a transaction on Monday, May 11th. The shares were purchased at an average cost of $63.05 per share, with a total value of $315,250.00. Following the completion of the transaction, the director directly owned 208,939 shares in the company, valued at approximately $13,173,603.95. This represents a 2.45% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Shawn Patrick Mclaughlin acquired 1,000 shares of Burke & Herbert Financial Services stock in a transaction on Tuesday, April 28th. The shares were bought at an average price of $64.80 per share, for a total transaction of $64,800.00. Following the purchase, the director owned 69,000 shares of the company's stock, valued at $4,471,200. This represents a 1.47% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders acquired 12,300 shares of company stock valued at $774,450. 11.99% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in shares of Burke & Herbert Financial Services by 0.5% during the third quarter. Vanguard Group Inc. now owns 765,442 shares of the company's stock worth $47,220,000 after purchasing an additional 3,616 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Burke & Herbert Financial Services by 12.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 317,991 shares of the company's stock valued at $19,814,000 after buying an additional 36,027 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Burke & Herbert Financial Services by 68.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 164,263 shares of the company's stock valued at $10,235,000 after buying an additional 66,778 shares during the last quarter. Marshall Wace LLP raised its stake in Burke & Herbert Financial Services by 18.6% during the second quarter. Marshall Wace LLP now owns 90,664 shares of the company's stock valued at $5,415,000 after buying an additional 14,217 shares in the last quarter. Finally, Bridgeway Capital Management LLC raised its stake in Burke & Herbert Financial Services by 235.4% during the fourth quarter. Bridgeway Capital Management LLC now owns 81,653 shares of the company's stock valued at $5,088,000 after buying an additional 57,306 shares in the last quarter.

Wall Street Analyst Weigh In

Several research firms have weighed in on BHRB. Weiss Ratings upgraded shares of Burke & Herbert Financial Services from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, June 29th. DA Davidson reiterated a "neutral" rating and issued a $70.00 price target on shares of Burke & Herbert Financial Services in a research report on Monday, April 27th. Finally, Freedom Capital raised shares of Burke & Herbert Financial Services from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $71.75.

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.

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