Burke & Herbert Financial Services (NASDAQ:BHRB) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Burke & Herbert Financial Services to “sell” from “hold,” although the broader analyst consensus remains “Moderate Buy” with an average price target of $75.25.
• BHRB reported quarterly earnings of $2.03 per share, beating estimates of $1.98, but revenue of $106.9 million fell short of the $112.86 million consensus forecast.
• The stock opened at $73.25, near its 12-month high of $74.32, while recent insider and institutional activity was generally positive; insiders purchased 11,300 shares during the last quarter.

Burke & Herbert Financial Services (NASDAQ:BHRB - Get Free Report) was downgraded by analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report issued on Saturday.

Several other analysts also recently issued reports on BHRB. Keefe, Bruyette & Woods boosted their target price on shares of Burke & Herbert Financial Services from $80.00 to $81.00 and gave the company an "outperform" rating in a research note on Friday. DA Davidson set a $75.00 target price on Burke & Herbert Financial Services in a research report on Monday. 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, Freedom Capital raised Burke & Herbert Financial Services from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $75.25.

Burke & Herbert Financial Services Stock Performance

BHRB opened at $73.25 on Friday. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.10. Burke & Herbert Financial Services has a twelve month low of $56.11 and a twelve month high of $74.32. The business's 50 day moving average is $68.32 and its 200-day moving average is $65.81. The stock has a market cap of $1.48 billion, a PE ratio of 11.74 and a beta of 0.58.

Burke & Herbert Financial Services (NASDAQ:BHRB - Get Free Report) last announced its 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. Burke & Herbert Financial Services had a return on equity of 15.11% and a net margin of 18.86%.The firm had revenue of $106.90 million for the quarter, compared to analysts' expectations of $112.86 million. On average, analysts predict that Burke & Herbert Financial Services will post 8.19 earnings per share for the current year.

Insider Buying and Selling at Burke & Herbert Financial Services

In other Burke & Herbert Financial Services news, Director Jill S. Upson sold 1,112 shares of the company's stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $63.30, for a total value of $70,389.60. Following the transaction, the director owned 2,000 shares in the company, valued at approximately $126,600. This represents a 35.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jose David Riojas bought 1,000 shares of the firm's stock in a transaction on Tuesday, May 12th. The shares were bought at an average cost of $62.00 per share, with a total value of $62,000.00. Following the purchase, the director directly owned 20,000 shares in the company, valued at approximately $1,240,000. This trade represents a 5.26% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have purchased 11,300 shares of company stock worth $709,650. 11.99% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Burke & Herbert Financial Services by 1.9% during 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 last quarter. Dimensional Fund Advisors LP increased its holdings in 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 worth $22,919,000 after buying an additional 49,957 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 worth $10,235,000 after buying an additional 66,778 shares during the last quarter. Endeavour Capital Advisors Inc. increased 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 worth $7,809,000 after buying an additional 22,601 shares during the last quarter. Finally, Marshall Wace LLP raised its position 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 acquiring an additional 14,217 shares in the last quarter.

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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