DA Davidson Downgrades Burke & Herbert Financial Services (NASDAQ:BHRB) to Hold

Key Points

• DA Davidson has downgraded Burke & Herbert Financial Services from a "strong-buy" rating to a "hold" rating, reflecting a shift in analyst sentiment regarding the stock.
• The stock currently possesses a consensus rating of "Hold" with a target price of $71.50, according to data from several analysts.
• Burke & Herbert Financial Services recently reported earnings of $1.82 per share for the last quarter, with analysts predicting an overall year-end earnings per share of $8.05.

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

BHRB has been the topic of a number of other research reports. Zacks Research raised shares of Burke & Herbert Financial Services from a "strong sell" rating to a "hold" rating in a research report on Monday, September 29th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Burke & Herbert Financial Services in a research report on Wednesday, October 8th. Wall Street Zen cut shares of Burke & Herbert Financial Services from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Summit Redstone set a $71.00 target price on shares of Burke & Herbert Financial Services in a research report on Thursday, October 9th. Finally, Janney Montgomery Scott assumed coverage on shares of Burke & Herbert Financial Services in a research report on Thursday, July 10th. They issued a "buy" rating and a $70.00 target price on the stock. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $71.50.

Burke & Herbert Financial Services Trading Up 2.4%

Shares of BHRB stock opened at $60.18 on Monday. The company's 50-day moving average price is $61.52 and its 200-day moving average price is $58.80. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.15. The stock has a market cap of $903.90 million, a price-to-earnings ratio of 8.73 and a beta of 1.11. Burke & Herbert Financial Services has a twelve month low of $47.57 and a twelve month high of $75.32.

Burke & Herbert Financial Services (NASDAQ:BHRB - Get Free Report) last announced its quarterly earnings results on Friday, January 26th. The company reported $1.82 earnings per share for the quarter. Burke & Herbert Financial Services had a net margin of 20.93% and a return on equity of 15.39%. The firm had revenue of $32.13 million for the quarter. As a group, equities analysts predict that Burke & Herbert Financial Services will post 8.05 earnings per share for the current year.

Institutional Trading of Burke & Herbert Financial Services

Several hedge funds have recently added to or reduced their stakes in the company. Hotchkis & Wiley Capital Management LLC purchased a new stake in shares of Burke & Herbert Financial Services in the 1st quarter valued at approximately $5,762,000. Fourthstone LLC increased its position in shares of Burke & Herbert Financial Services by 430.0% in the 2nd quarter. Fourthstone LLC now owns 113,508 shares of the company's stock valued at $6,780,000 after purchasing an additional 92,091 shares during the last quarter. American Century Companies Inc. increased its stake in Burke & Herbert Financial Services by 135.6% in the second quarter. American Century Companies Inc. now owns 122,649 shares of the company's stock valued at $7,326,000 after purchasing an additional 70,582 shares during the last quarter. Segall Bryant & Hamill LLC purchased a new position in Burke & Herbert Financial Services in the first quarter valued at approximately $1,723,000. Finally, Nuveen LLC purchased a new position in Burke & Herbert Financial Services in the first quarter valued at approximately $1,685,000.

About Burke & Herbert Financial Services

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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