Burke & Herbert Financial Services (NASDAQ:BHRB) Stock Rating Upgraded by Zacks Research

Key Points

• Burke & Herbert Financial Services has been upgraded from a "strong sell" to a "hold" rating by Zacks Research, indicating a more favorable outlook for the stock.
• Recent earnings report showed the company achieved $1.97 EPS, surpassing expectations of $1.85, with a revenue of $87.11 million compared to the estimated $86.06 million.
• The stock has an average price target of $71.67 with three analysts rating it as a "Buy" and one as a "Hold," reflecting positive sentiment in the market.

Burke & Herbert Financial Services (NASDAQ:BHRB - Get Free Report) was upgraded by equities research analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a report issued on Monday,Zacks.com reports.

Other analysts also recently issued research reports about the stock. Wall Street Zen downgraded shares of Burke & Herbert Financial Services from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Janney Montgomery Scott began coverage on shares of Burke & Herbert Financial Services in a report on Thursday, July 10th. They issued a "buy" rating and a $70.00 target price for the company. Keefe, Bruyette & Woods boosted their price target on shares of Burke & Herbert Financial Services from $70.00 to $72.00 and gave the stock an "outperform" rating in a research note on Monday, July 28th. Finally, DA Davidson boosted their price target on shares of Burke & Herbert Financial Services from $69.00 to $73.00 and gave the stock a "buy" rating in a research note on Monday, July 28th. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $71.67.

Burke & Herbert Financial Services Trading Up 0.7%

BHRB opened at $61.69 on Monday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.82 and a quick ratio of 0.82. The company's 50 day simple moving average is $61.36 and its two-hundred day simple moving average is $58.47. Burke & Herbert Financial Services has a 1-year low of $47.57 and a 1-year high of $75.32. The firm has a market capitalization of $926.71 million, a price-to-earnings ratio of 8.95 and a beta of 1.21.

Burke & Herbert Financial Services (NASDAQ:BHRB - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The company reported $1.97 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.85 by $0.12. The business had revenue of $87.11 million during the quarter, compared to the consensus estimate of $86.06 million. Burke & Herbert Financial Services had a net margin of 20.93% and a return on equity of 15.39%. Analysts expect that Burke & Herbert Financial Services will post 8.05 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. CWM LLC increased its stake in Burke & Herbert Financial Services by 732.7% in the second quarter. CWM LLC now owns 841 shares of the company's stock valued at $50,000 after purchasing an additional 740 shares during the period. State of Wyoming acquired a new position in shares of Burke & Herbert Financial Services during the first quarter worth about $49,000. PNC Financial Services Group Inc. increased its stake in shares of Burke & Herbert Financial Services by 104.3% during the first quarter. PNC Financial Services Group Inc. now owns 1,802 shares of the company's stock worth $101,000 after acquiring an additional 920 shares during the period. Larson Financial Group LLC acquired a new position in shares of Burke & Herbert Financial Services during the first quarter worth about $141,000. Finally, Tower Research Capital LLC TRC increased its stake in shares of Burke & Herbert Financial Services by 585.5% during the second quarter. Tower Research Capital LLC TRC now owns 3,393 shares of the company's stock worth $203,000 after acquiring an additional 2,898 shares during the period.

Burke & Herbert Financial Services Company Profile

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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