Burke & Herbert Financial Services (NASDAQ:BHRB) Raised to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Burke & Herbert Financial Services to “Hold” from “Sell.” Overall analyst sentiment remains “Moderate Buy,” with an average price target of $75.25.
• BHRB shares opened at $73.42, near their 52-week high of $75.08, while the company reported quarterly EPS of $2.03, exceeding estimates of $1.98; revenue of $106.9 million fell short of expectations.
• Insiders purchased more shares than they sold over the past three months, and major institutions including BlackRock and Bank of New York Mellon recently established positions.

Burke & Herbert Financial Services (NASDAQ:BHRB - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a note issued to investors on Sunday.

Other analysts have also recently issued research reports about the stock. DA Davidson set a $75.00 target price on shares of Burke & Herbert Financial Services in a research report on Monday, July 27th. Freedom Capital upgraded Burke & Herbert Financial Services from a "hold" rating to a "strong-buy" rating in a report on Friday, May 15th. Weiss Ratings upgraded Burke & Herbert Financial Services from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, June 29th. Finally, Keefe, Bruyette & Woods upped their price target on Burke & Herbert Financial Services from $80.00 to $81.00 and gave the company an "outperform" rating in a research note on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $75.25.

Burke & Herbert Financial Services Price Performance

Shares of NASDAQ:BHRB opened at $73.42 on Friday. The business has a fifty day moving average price of $69.38 and a 200-day moving average price of $66.15. The company has a market capitalization of $1.48 billion, a PE ratio of 11.77 and a beta of 0.57. Burke & Herbert Financial Services has a 1-year low of $56.50 and a 1-year high of $75.08. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.78 and a quick ratio of 0.78.

Burke & Herbert Financial Services (NASDAQ:BHRB - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The company reported $2.03 EPS for the quarter, topping the consensus estimate of $1.98 by $0.05. The company had revenue of $106.90 million during the quarter, compared to analysts' expectations of $112.86 million. Burke & Herbert Financial Services had a net margin of 18.86% and a return on equity of 15.11%. As a group, equities analysts expect that Burke & Herbert Financial Services will post 8.19 EPS for the current fiscal year.

Insider Buying and Selling at Burke & Herbert Financial Services

In related news, Director Jose David Riojas purchased 1,000 shares of Burke & Herbert Financial Services stock in a transaction dated Tuesday, May 12th. The stock was bought at an average price of $62.00 per share, for a total transaction of $62,000.00. Following the completion of the acquisition, the director directly owned 20,000 shares of the company's stock, valued at $1,240,000. This represents a 5.26% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Julian Forrest Jr. Barnwell acquired 5,000 shares of the stock in a transaction dated Monday, May 11th. The shares were bought at an average cost of $63.05 per share, with a total value of $315,250.00. Following the transaction, the director directly owned 208,939 shares of the company's stock, valued at $13,173,603.95. This represents a 2.45% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have purchased 11,434 shares of company stock worth $719,523 and have sold 5,262 shares worth $376,939. Company insiders own 11.99% of the company's stock.

Institutional Trading of Burke & Herbert Financial Services

Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. bought a new position in shares of Burke & Herbert Financial Services in the 2nd quarter valued at about $87,556,000. Deutsche Bank AG acquired a new position in Burke & Herbert Financial Services during the second quarter valued at approximately $1,111,000. Bank of New York Mellon Corp bought a new position in Burke & Herbert Financial Services in the second quarter valued at approximately $7,555,000. Stonebridge Financial Group LLC bought a new position in Burke & Herbert Financial Services in the second quarter valued at approximately $203,000. Finally, Bank of America Corp DE increased its position in shares of Burke & Herbert Financial Services by 68.3% during the 1st quarter. Bank of America Corp DE now owns 32,188 shares of the company's stock worth $2,005,000 after purchasing an additional 13,063 shares during the last quarter.

About Burke & Herbert Financial Services

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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