Burke & Herbert Financial Services (NASDAQ:BHRB) Sees Large Volume Increase - Still a Buy?

Key Points

• Burke & Herbert Financial Services experienced an 88% increase in trading volume, with 75,948 shares traded, resulting in a stock price rise from $58.08 to $59.65.
• Multiple analysts have upgraded their price targets for the stock, with a consensus target of $71.50 and an overall rating of "Moderate Buy."
• The company recently declared a quarterly dividend of $0.55 per share, reflecting an annual yield of 3.7% and a dividend payout ratio of 31.93%.

Shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB - Get Free Report) saw an uptick in trading volume on Monday . 75,948 shares traded hands during trading, an increase of 88% from the previous session's volume of 40,409 shares.The stock last traded at $59.65 and had previously closed at $58.08.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. DA Davidson upped their price objective on Burke & Herbert Financial Services from $69.00 to $73.00 and gave the company a "buy" rating in a research report on Monday, July 28th. Weiss Ratings restated a "hold (c+)" rating on shares of Burke & Herbert Financial Services in a research report on Wednesday, October 8th. Summit Redstone set a $71.00 price objective on Burke & Herbert Financial Services in a research report on Thursday, October 9th. Keefe, Bruyette & Woods upped their price objective on Burke & Herbert Financial Services from $70.00 to $72.00 and gave the company an "outperform" rating in a research report on Monday, July 28th. Finally, Wall Street Zen downgraded Burke & Herbert Financial Services from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $71.50.

Burke & Herbert Financial Services Price Performance

The firm has a fifty day simple moving average of $61.47 and a 200 day simple moving average of $58.73. The company has a market capitalization of $901.34 million, a PE ratio of 8.71 and a beta of 1.11. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.82 and a current ratio of 0.82.

Burke & Herbert Financial Services (NASDAQ:BHRB - Get Free Report) last released its quarterly earnings data on Friday, January 26th. The company reported $1.82 EPS for the quarter. The company had revenue of $32.13 million for the quarter. Burke & Herbert Financial Services had a return on equity of 15.39% and a net margin of 20.93%. Equities analysts anticipate that Burke & Herbert Financial Services Corp. will post 8.05 EPS for the current year.

Burke & Herbert Financial Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Friday, August 15th were given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend was Friday, August 15th. Burke & Herbert Financial Services's dividend payout ratio (DPR) is 31.93%.

Institutional Trading of Burke & Herbert Financial Services

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. CWM LLC boosted its position in Burke & Herbert Financial Services by 419.6% during the 3rd quarter. CWM LLC now owns 4,370 shares of the company's stock valued at $270,000 after acquiring an additional 3,529 shares in the last quarter. Brookstone Capital Management acquired a new stake in shares of Burke & Herbert Financial Services in the 3rd quarter worth $1,102,000. DAVENPORT & Co LLC acquired a new stake in shares of Burke & Herbert Financial Services in the 3rd quarter worth $392,000. Osaic Holdings Inc. boosted its position in shares of Burke & Herbert Financial Services by 318.0% in the 2nd quarter. Osaic Holdings Inc. now owns 4,443 shares of the company's stock worth $265,000 after purchasing an additional 3,380 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its stake in Burke & Herbert Financial Services by 4.9% in the 2nd quarter. Thrivent Financial for Lutherans now owns 24,413 shares of the company's stock worth $1,458,000 after acquiring an additional 1,150 shares during the last quarter.

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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