Burke & Herbert Financial Services (NASDAQ:BHRB) Upgraded at Freedom Capital

Key Points

• Freedom Capital upgraded Burke & Herbert Financial Services from hold to strong-buy, adding a bullish note to the stock’s analyst coverage.
• The broader analyst view remains mixed: the stock has a Moderate Buy consensus with a $71.40 average target price, while recent ratings have ranged from hold to buy.
• The company’s latest quarterly results were in line on EPS at $1.87, though revenue came in slightly below expectations; meanwhile, shares were trading around $61.47, below the consensus target.

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

A number of other analysts have also recently weighed in on the stock. Citigroup cut shares of Burke & Herbert Financial Services to a "hold" rating in a report on Wednesday, February 25th. DA Davidson reaffirmed a "neutral" rating and issued a $70.00 price objective on shares of Burke & Herbert Financial Services in a research note on Monday, April 27th. Loop Capital set a $74.00 price objective on shares of Burke & Herbert Financial Services in a research note on Wednesday, February 25th. Zacks Research lowered shares of Burke & Herbert Financial Services from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 2nd. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Burke & Herbert Financial Services in a research note on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $71.40.

Burke & Herbert Financial Services Trading Down 1.4%

Burke & Herbert Financial Services stock opened at $61.47 on Friday. The firm has a 50 day simple moving average of $63.22 and a 200-day simple moving average of $64.20. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.78 and a quick ratio of 0.81. The stock has a market capitalization of $1.24 billion, a PE ratio of 7.97 and a beta of 0.74. Burke & Herbert Financial Services has a 12-month low of $54.45 and a 12-month high of $70.90.

Burke & Herbert Financial Services (NASDAQ:BHRB - Get Free Report) last posted its quarterly earnings data on Thursday, April 23rd. The company reported $1.87 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.87. The business had revenue of $84.70 million during the quarter, compared to analysts' expectations of $86.50 million. Burke & Herbert Financial Services had a net margin of 24.04% and a return on equity of 14.46%. As a group, equities research analysts expect that Burke & Herbert Financial Services will post 8.33 EPS for the current fiscal year.

Insider Buying and Selling at Burke & Herbert Financial Services

In related news, Director Jose David Riojas bought 1,000 shares of the firm's stock in a transaction on Tuesday, May 12th. The stock was bought at an average price of $62.00 per share, with a total value of $62,000.00. Following the purchase, the director directly owned 20,000 shares of the company's stock, valued at approximately $1,240,000. This represents a 5.26% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Shawn Patrick Mclaughlin bought 1,000 shares of the firm's stock in a transaction on Tuesday, April 28th. The shares were bought at an average cost of $64.80 per share, with a total value of $64,800.00. Following the purchase, the director directly owned 69,000 shares in the company, valued at approximately $4,471,200. This trade represents a 1.47% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders purchased 7,300 shares of company stock valued at $460,650 in the last quarter. Company insiders own 10.92% of the company's stock.

Institutional Investors Weigh In On Burke & Herbert Financial Services

Institutional investors have recently modified their holdings of the stock. Quantbot Technologies LP lifted its stake in shares of Burke & Herbert Financial Services by 8.1% in the 2nd quarter. Quantbot Technologies LP now owns 3,897 shares of the company's stock valued at $233,000 after purchasing an additional 292 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of Burke & Herbert Financial Services by 1.7% in the 2nd quarter. Rhumbline Advisers now owns 17,961 shares of the company's stock valued at $1,073,000 after purchasing an additional 298 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Burke & Herbert Financial Services by 4.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,030 shares of the company's stock valued at $451,000 after purchasing an additional 319 shares during the last quarter. EJF Capital LLC lifted its stake in shares of Burke & Herbert Financial Services by 0.9% in the 3rd quarter. EJF Capital LLC now owns 49,850 shares of the company's stock valued at $3,075,000 after purchasing an additional 448 shares during the last quarter. Finally, Kestra Advisory Services LLC acquired a new stake in shares of Burke & Herbert Financial Services in the 4th quarter valued at $30,000.

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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