Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Stock Has Average Price Target of $76.67

Key Points

• Analyst sentiment is moderately positive: Six analysts give Burke & Herbert Financial Services a consensus “Moderate Buy” rating, with an average 12-month price target of $76.67 versus the reported share price of $69.19.
• Quarterly earnings beat expectations: The company reported EPS of $2.03, exceeding the $1.98 consensus estimate, although revenue of $106.89 million fell short of the $112.86 million forecast.
• Shareholders receive a 3.2% dividend yield: The quarterly dividend is $0.55 per share, or $2.20 annualized, while insiders sold 5,650 shares worth approximately $416,094 during the latest quarter.

Shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the six analysts that are presently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $76.67.

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

Burke & Herbert Financial Services Price Performance

NASDAQ BHRB opened at $69.19 on Wednesday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13. The company has a fifty day simple moving average of $71.05 and a 200 day simple moving average of $68.02. The company has a market cap of $1.40 billion, a P/E ratio of 11.09 and a beta of 0.58. Burke & Herbert Financial Services has a 1 year low of $57.42 and a 1 year high of $75.08.

Burke & Herbert Financial Services (NASDAQ:BHRB - Get Free Report) last posted its earnings results on Thursday, July 23rd. The company reported $2.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.98 by $0.05. The business had revenue of $106.89 million for the quarter, compared to analyst estimates of $112.86 million. Burke & Herbert Financial Services had a net margin of 18.86% and a return on equity of 13.66%. On average, sell-side analysts predict that Burke & Herbert Financial Services will post 8.09 EPS for the current year.

Burke & Herbert Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th were issued a $0.55 dividend. The ex-dividend date of this dividend was Friday, August 14th. This represents a $2.20 dividend on an annualized basis and a yield of 3.2%. Burke & Herbert Financial Services's dividend payout ratio (DPR) is 35.26%.

Insiders Place Their Bets

In other Burke & Herbert Financial Services news, Director Georgette R. George sold 1,000 shares of Burke & Herbert Financial Services stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $73.67, for a total value of $73,670.00. Following the transaction, the director directly owned 38,321 shares of the company's stock, valued at $2,823,108.07. The trade was a 2.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director James P. Geary II sold 3,150 shares of Burke & Herbert Financial Services stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $73.93, for a total value of $232,879.50. Following the completion of the transaction, the director directly owned 9,457 shares in the company, valued at approximately $699,156.01. This represents a 24.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders bought 1,369 shares of company stock worth $100,747 and sold 5,650 shares worth $416,094. 11.99% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Burke & Herbert Financial Services

Several hedge funds and other institutional investors have recently modified their holdings of BHRB. Stonebridge Financial Group LLC bought a new position in Burke & Herbert Financial Services during the second quarter worth $203,000. The Manufacturers Life Insurance Company acquired a new position in Burke & Herbert Financial Services during the 2nd quarter valued at $291,000. Corient Private Wealth LP acquired a new position in Burke & Herbert Financial Services during the 2nd quarter valued at $326,000. Arizona State Retirement System boosted its holdings in Burke & Herbert Financial Services by 23.1% in the 2nd quarter. Arizona State Retirement System now owns 4,575 shares of the company's stock valued at $329,000 after purchasing an additional 859 shares during the period. Finally, Freestone Grove Partners LP bought a new stake in Burke & Herbert Financial Services in the 2nd quarter valued at $364,000.

Burke & Herbert Financial Services Company Profile

Burke & Herbert Financial Services Corporation NASDAQ: BHRB is the bank holding company for Burke & Herbert Bank, a community banking institution headquartered in Alexandria, Virginia. Founded in 1852, Burke & Herbert Bank is one of Virginia's oldest continuously operating banks and provides financial services to individuals, businesses, nonprofit organizations and public-sector customers.

The company offers deposit accounts, consumer and commercial lending, residential mortgages, home equity loans, treasury and cash-management services, credit cards and online and mobile banking.

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