Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Given Average Rating of "Moderate Buy" by Analysts

Key Points

• Analyst sentiment is moderately positive: Six firms give Burke & Herbert Financial Services an average “Moderate Buy” rating, with a consensus 12-month price target of $75.25 versus the stock’s $69.90 opening price.
• Quarterly earnings exceeded expectations: The company reported $2.03 in earnings per share, beating estimates by $0.05, although revenue of $106.89 million fell short of the $112.86 million consensus forecast.
• Shareholders received a 3.1% dividend yield: The quarterly dividend was $0.55 per share, or $2.20 annualized, while recent insider activity included more selling than buying over the past 90 days.

Shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the six research firms that are presently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $75.25.

Several analysts recently weighed in on BHRB shares. Wall Street Zen upgraded Burke & Herbert Financial Services from a "sell" rating to a "hold" rating in a report on Sunday, August 9th. Keefe, Bruyette & Woods increased their target price on shares of Burke & Herbert Financial Services from $80.00 to $81.00 and gave the stock an "outperform" rating in a report on Friday, July 31st. Weiss Ratings raised shares of Burke & Herbert Financial Services from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, August 12th. Finally, DA Davidson set a $75.00 price target on shares of Burke & Herbert Financial Services in a report on Monday, July 27th.

Burke & Herbert Financial Services Trading Down 0.8%

BHRB opened at $69.90 on Friday. The stock's fifty day moving average is $72.03 and its two-hundred day moving average is $67.21. The company has a market capitalization of $1.41 billion, a P/E ratio of 11.20 and a beta of 0.56. Burke & Herbert Financial Services has a 52 week low of $57.42 and a 52 week high of $75.08. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.13.

Burke & Herbert Financial Services (NASDAQ:BHRB - Get Free Report) last issued its earnings results on Thursday, July 23rd. The company reported $2.03 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.05. Burke & Herbert Financial Services had a return on equity of 13.66% and a net margin of 18.86%.The business had revenue of $106.89 million during the quarter, compared to analysts' expectations of $112.86 million. Analysts forecast that Burke & Herbert Financial Services will post 8.19 earnings per share for the current year.

Burke & Herbert Financial Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Friday, August 14th were issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Friday, August 14th. Burke & Herbert Financial Services's dividend payout ratio (DPR) is presently 35.26%.

Insider Buying and Selling at Burke & Herbert Financial Services

In other Burke & Herbert Financial Services news, Director James P. Geary II sold 3,150 shares of the company's stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $73.93, for a total transaction of $232,879.50. Following the completion of the sale, the director owned 9,457 shares in the company, valued at $699,156.01. This represents a 24.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James Mason Burke sold 1,500 shares of the stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $73.03, for a total value of $109,545.00. Following the sale, the director directly owned 258,480 shares in the company, valued at $18,876,794.40. This trade represents a 0.58% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders purchased 1,369 shares of company stock worth $100,747 and sold 5,650 shares worth $416,094. Corporate insiders own 11.99% of the company's stock.

Hedge Funds Weigh In On Burke & Herbert Financial Services

Several institutional investors and hedge funds have recently added to or reduced their stakes in BHRB. Arizona State Retirement System lifted its position in shares of Burke & Herbert Financial Services by 23.1% during the second quarter. Arizona State Retirement System now owns 4,575 shares of the company's stock valued at $329,000 after buying an additional 859 shares during the last quarter. Quantinno Capital Management LP grew its position in shares of Burke & Herbert Financial Services by 13.9% in the 1st quarter. Quantinno Capital Management LP now owns 9,439 shares of the company's stock worth $588,000 after buying an additional 1,150 shares during the last quarter. Y Intercept Hong Kong Ltd raised its stake in shares of Burke & Herbert Financial Services by 58.9% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 6,013 shares of the company's stock worth $375,000 after acquiring an additional 2,230 shares in the last quarter. Stonebridge Financial Group LLC bought a new position in shares of Burke & Herbert Financial Services during the 2nd quarter worth approximately $203,000. Finally, Folger Nolan Fleming Douglas Capital Management Inc. raised its stake in shares of Burke & Herbert Financial Services by 100.3% during the 1st quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 7,591 shares of the company's stock worth $473,000 after acquiring an additional 3,801 shares in the last quarter.

Burke & Herbert Financial Services Company Profile

Burke & Herbert Financial Services Corp. is the bank holding company for Burke & Herbert Bank, a community-focused financial institution headquartered in Alexandria, Virginia. Founded in 1852, Burke & Herbert Bank is one of the oldest continuously operating banks in Virginia and has built its business around serving individuals, families, businesses and nonprofit organizations.

Through its banking subsidiary, the company offers deposit accounts, consumer and commercial lending, residential mortgage services, cash-management and other treasury services, online and mobile banking, and investment and wealth-management solutions.

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