Burke & Herbert Financial Services (NASDAQ:BHRB) Reaches New 1-Year High - Should You Buy?

Key Points

• Burke & Herbert Financial Services reached a new 52-week high of $74.14, while analysts maintain a “Moderate Buy” consensus and a $73.33 average price target.
• The company exceeded quarterly EPS expectations, reporting $2.03 versus the $1.98 estimate, although revenue of $106.9 million fell short of the $112.86 million consensus.
• Burke & Herbert declared a quarterly dividend of $0.55 per share, equivalent to a 3.0% annualized yield; insiders have been net buyers over the past 90 days, purchasing 11,300 shares.

Shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB - Get Free Report) hit a new 52-week high on Tuesday . The stock traded as high as $74.14 and last traded at $73.8850, with a volume of 33080 shares changing hands. The stock had previously closed at $72.50.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. DA Davidson set a $75.00 target price on shares of Burke & Herbert Financial Services in a research note on Monday. Weiss Ratings raised shares of Burke & Herbert Financial Services from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, June 29th. Finally, Freedom Capital upgraded Burke & Herbert Financial Services from a "hold" rating to a "strong-buy" rating in a report on Friday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $73.33.

Burke & Herbert Financial Services Trading Up 1.5%

The company has a debt-to-equity ratio of 0.10, a current ratio of 0.78 and a quick ratio of 0.78. The company has a market cap of $1.48 billion, a PE ratio of 11.79 and a beta of 0.58. The company's 50 day simple moving average is $67.46 and its two-hundred day simple moving average is $65.54.

Burke & Herbert Financial Services (NASDAQ:BHRB - Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The company reported $2.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.98 by $0.05. Burke & Herbert Financial Services had a net margin of 18.86% and a return on equity of 15.11%. The business had revenue of $106.90 million for the quarter, compared to the consensus estimate of $112.86 million. As a group, sell-side analysts anticipate that Burke & Herbert Financial Services Corp. will post 8.33 EPS for the current fiscal year.

Burke & Herbert Financial Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Friday, August 14th. Burke & Herbert Financial Services's dividend payout ratio (DPR) is currently 35.26%.

Insider Activity

In other news, Director Julian Forrest Jr. Barnwell acquired 5,000 shares of the business's stock in a transaction that occurred on Wednesday, June 3rd. The shares were purchased at an average price of $62.76 per share, for a total transaction of $313,800.00. Following the acquisition, the director owned 26,580 shares of the company's stock, valued at $1,668,160.80. This represents a 23.17% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jill S. Upson sold 1,112 shares of the stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $63.30, for a total value of $70,389.60. Following the transaction, the director directly owned 2,000 shares in the company, valued at approximately $126,600. The trade was a 35.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders bought 11,300 shares of company stock valued at $709,650. 11.99% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Burke & Herbert Financial Services

Several large investors have recently added to or reduced their stakes in BHRB. Vanguard Group Inc. boosted its position in Burke & Herbert Financial Services by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 779,800 shares of the company's stock valued at $48,589,000 after buying an additional 14,358 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Burke & Herbert Financial Services by 15.7% in the first quarter. Dimensional Fund Advisors LP now owns 367,948 shares of the company's stock valued at $22,919,000 after acquiring an additional 49,957 shares in the last quarter. Goldman Sachs Group Inc. boosted 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 purchasing an additional 66,778 shares during the period. Endeavour Capital Advisors Inc. boosted its holdings in Burke & Herbert Financial Services by 22.0% in the fourth quarter. Endeavour Capital Advisors Inc. now owns 125,323 shares of the company's stock valued at $7,809,000 after purchasing an additional 22,601 shares during the period. Finally, Marshall Wace LLP grew its stake in 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 purchasing an additional 14,217 shares in 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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