Burke & Herbert Financial Services Corp. (BHRB) - What Are Researchers Saying About This Stock?

Key Points

• Analyst sentiment is moderately positive: Six firms give BHRB an average “Moderate Buy” rating, with a consensus 12-month price target of $76.67.
• Latest quarterly results beat on earnings but missed on revenue: EPS was $2.14 versus the $2.05 consensus, while revenue of $119.74 million fell short of the $121.32 million estimate. The company declared a $0.55 quarterly dividend, equal to a 3.1% annualized yield.
• Insiders have been buying shares: Company insiders purchased 1,839 shares worth about $133,648 over the past three months; insiders own 11.99% of the stock.

Shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB - Get Free Report) have been assigned an average rating of "Moderate Buy" from the six research firms that are currently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $76.67.

A number of equities research analysts recently weighed in on BHRB shares. Weiss Ratings upgraded shares of Burke & Herbert Financial Services from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, August 12th. DA Davidson set a $75.00 price objective on shares of Burke & Herbert Financial Services in a report on Monday, July 27th. Wall Street Zen upgraded shares of Burke & Herbert Financial Services from a "sell" rating to a "hold" rating in a research report on Sunday, August 9th. Finally, Keefe, Bruyette & Woods raised 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, July 31st.

Insider Activity

In other news, Director Diane Poillon bought 1,200 shares of the company's stock in a transaction that occurred on Wednesday, August 12th. The shares were purchased at an average price of $73.67 per share, with a total value of $88,404.00. Following the completion of the acquisition, the director directly owned 4,128 shares in the company, valued at approximately $304,109.76. This trade represents a 40.98% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Shawn Mclaughlin bought 500 shares of the business's stock in a transaction on Thursday, October 29th. The stock was purchased at an average price of $71.00 per share, with a total value of $35,500.00. Following the completion of the transaction, the director directly owned 71,500 shares of the company's stock, valued at $5,076,500. This trade represents a 0.70% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased 1,839 shares of company stock worth $133,648 over the last three months. Corporate insiders own 11.99% of the company's stock.

Institutional Trading of Burke & Herbert Financial Services

A number of hedge funds and other institutional investors have recently modified their holdings of BHRB. BlackRock Inc. acquired a new stake in shares of Burke & Herbert Financial Services in the second quarter valued at $87,556,000. Dimensional Fund Advisors LP grew its holdings in Burke & Herbert Financial Services by 15.7% during the first quarter. Dimensional Fund Advisors LP now owns 367,948 shares of the company's stock worth $22,919,000 after acquiring an additional 49,957 shares during the period. Bank of New York Mellon Corp bought a new stake in Burke & Herbert Financial Services in the second quarter worth about $7,555,000. Empowered Funds LLC bought a new stake in Burke & Herbert Financial Services in the second quarter worth about $5,140,000. Finally, Pinnacle Holdings LLC acquired a new stake in Burke & Herbert Financial Services in the 2nd quarter valued at about $3,101,000.

Burke & Herbert Financial Services Stock Up 0.0%

Shares of Burke & Herbert Financial Services stock opened at $69.88 on Friday. The business's fifty day moving average price is $70.24 and its two-hundred day moving average price is $67.64. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84. The company has a market capitalization of $1.41 billion, a P/E ratio of 11.55 and a beta of 0.57. Burke & Herbert Financial Services has a 1-year low of $59.00 and a 1-year high of $75.08.

Burke & Herbert Financial Services (NASDAQ:BHRB - Get Free Report) last released its quarterly earnings results on Thursday, October 22nd. The company reported $2.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.09. Burke & Herbert Financial Services had a return on equity of 14.54% and a net margin of 18.43%. The company had revenue of $119.74 million during the quarter, compared to analysts' expectations of $121.32 million. As a group, research analysts forecast that Burke & Herbert Financial Services will post 8.06 EPS for the current year.

Burke & Herbert Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Friday, November 13th will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Friday, November 13th. Burke & Herbert Financial Services's dividend payout ratio is currently 36.36%.

Burke & Herbert Financial Services Company Profile

Burke & Herbert Financial Services Corp. is the bank holding company for Burke & Herbert Bank & Trust Company, a community bank headquartered in Alexandria, Virginia. The bank traces its history to 1852 and serves consumers, businesses, nonprofit organizations and government-related entities in the Washington, DC, metropolitan region.

Burke & Herbert Bank provides traditional banking services, including checking and savings accounts, certificates of deposit, consumer loans, residential mortgages, commercial real estate financing and business loans.

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