DA Davidson Reiterates "Neutral" Rating for Burke & Herbert Financial Services (NASDAQ:BHRB)

Key Points

• DA Davidson reiterated a Neutral rating on Burke & Herbert Financial Services (NASDAQ:BHRB) with a $70 price target, implying about a 9.22% upside from the prior close.
• Across analysts the stock’s consensus is a Hold (2 Buys, 5 Holds) with an average target of $71.40, indicating modest near-term upside expectations.
• Most recent quarter: BHRB reported $1.87 EPS (in line with estimates) and $84.7M revenue (below consensus); the stock trades around $64.09 with a market cap of about $964M and a PE of 8.32.

Burke & Herbert Financial Services (NASDAQ:BHRB - Get Free Report)'s stock had its "neutral" rating reissued by stock analysts at DA Davidson in a note issued to investors on Monday,Benzinga reports. They presently have a $70.00 target price on the stock. DA Davidson's price target points to a potential upside of 9.22% from the stock's previous close.

BHRB has been the topic of a number of other reports. Citigroup downgraded shares of Burke & Herbert Financial Services to a "hold" rating in a research report on Wednesday, February 25th. Weiss Ratings restated a "hold (c+)" rating on shares of Burke & Herbert Financial Services in a research report on Monday, December 29th. Zacks Research downgraded shares of Burke & Herbert Financial Services from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 2nd. Freedom Capital downgraded shares of Burke & Herbert Financial Services from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, February 25th. Finally, Loop Capital set a $74.00 target price on shares of Burke & Herbert Financial Services in a research report on Wednesday, February 25th. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $71.40.

Burke & Herbert Financial Services Price Performance

NASDAQ:BHRB traded up $0.13 during mid-day trading on Monday, reaching $64.09. 52,159 shares of the company were exchanged, compared to its average volume of 96,965. Burke & Herbert Financial Services has a 12 month low of $51.54 and a 12 month high of $70.90. The company has a fifty day moving average of $64.10 and a 200 day moving average of $63.93. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.10. The stock has a market cap of $963.96 million, a PE ratio of 8.32 and a beta of 0.98.

Burke & Herbert Financial Services (NASDAQ:BHRB - Get Free Report) last released its earnings results on Friday, April 24th. The company reported $1.87 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.87. Burke & Herbert Financial Services had a net margin of 24.04% and a return on equity of 14.66%. The company had revenue of $84.70 million for the quarter, compared to the consensus estimate of $86.50 million. On average, research analysts anticipate that Burke & Herbert Financial Services will post 8.15 EPS for the current fiscal year.

Institutional Trading of Burke & Herbert Financial Services

A number of hedge funds have recently modified their holdings of the company. Y Intercept Hong Kong Ltd raised its position in shares of Burke & Herbert Financial Services by 58.9% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 6,013 shares of the company's stock valued at $375,000 after acquiring an additional 2,230 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc. raised its position in shares of Burke & Herbert Financial Services by 100.3% in the 1st quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 7,591 shares of the company's stock valued at $473,000 after acquiring an additional 3,801 shares during the period. Hsbc Holdings PLC acquired a new stake in shares of Burke & Herbert Financial Services in the 4th quarter valued at approximately $627,000. Invesco Ltd. raised its position in shares of Burke & Herbert Financial Services by 12.5% in the 4th quarter. Invesco Ltd. now owns 16,388 shares of the company's stock valued at $1,021,000 after acquiring an additional 1,820 shares during the period. Finally, Empowered Funds LLC raised its holdings in Burke & Herbert Financial Services by 122.0% during the 4th quarter. Empowered Funds LLC now owns 46,053 shares of the company's stock worth $2,870,000 after buying an additional 25,306 shares during the period.

About Burke & Herbert Financial Services

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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