Weiss Ratings Reaffirms Hold (C+) Rating for Burke & Herbert Financial Services (NASDAQ:BHRB)

Key Points

• Weiss Ratings has reaffirmed a "hold (C+)" rating for Burke & Herbert Financial Services (NASDAQ:BHRB), reflecting a cautious outlook amid varying opinions from other analysts.
• The company's quarterly earnings exceeded expectations, reporting $1.97 earnings per share against a consensus estimate of $1.85, with a net margin of 20.93%.
• Burke & Herbert Financial Services' stock experienced a slight decline, trading at $59.98 recently, with market analysts maintaining an average target price of $71.67.

Burke & Herbert Financial Services (NASDAQ:BHRB - Get Free Report)'s stock had its "hold (c+)" rating reissued by investment analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

A number of other research analysts also recently issued reports on the company. Wall Street Zen downgraded Burke & Herbert Financial Services from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. DA Davidson boosted their price target on Burke & Herbert Financial Services from $69.00 to $73.00 and gave the company a "buy" rating in a report on Monday, July 28th. Keefe, Bruyette & Woods boosted their price target on Burke & Herbert Financial Services from $70.00 to $72.00 and gave the company an "outperform" rating in a report on Monday, July 28th. Zacks Research raised Burke & Herbert Financial Services from a "strong sell" rating to a "hold" rating in a report on Monday, September 29th. Finally, Janney Montgomery Scott initiated coverage on Burke & Herbert Financial Services in a report on Thursday, July 10th. They issued a "buy" rating and a $70.00 price target for the company. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Burke & Herbert Financial Services has an average rating of "Moderate Buy" and an average target price of $71.67.

Burke & Herbert Financial Services Stock Performance

Burke & Herbert Financial Services stock traded down $0.25 during trading hours on Wednesday, hitting $59.98. 30,082 shares of the stock traded hands, compared to its average volume of 52,620. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.82 and a quick ratio of 0.82. Burke & Herbert Financial Services has a 1 year low of $47.57 and a 1 year high of $75.32. The stock has a market capitalization of $900.90 million, a price-to-earnings ratio of 8.71 and a beta of 1.11. The firm's 50 day moving average price is $61.14 and its 200-day moving average price is $58.55.

Burke & Herbert Financial Services (NASDAQ:BHRB - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The company reported $1.97 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.12. Burke & Herbert Financial Services had a net margin of 20.93% and a return on equity of 15.39%. The company had revenue of $87.11 million for the quarter, compared to the consensus estimate of $86.06 million. As a group, equities analysts expect that Burke & Herbert Financial Services will post 8.05 EPS for the current fiscal year.

Hedge Funds Weigh In On Burke & Herbert Financial Services

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BHRB. State of Wyoming purchased a new stake in shares of Burke & Herbert Financial Services in the first quarter valued at about $49,000. CWM LLC grew its stake in shares of Burke & Herbert Financial Services by 732.7% in the 2nd quarter. CWM LLC now owns 841 shares of the company's stock valued at $50,000 after buying an additional 740 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of Burke & Herbert Financial Services by 104.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,802 shares of the company's stock worth $101,000 after buying an additional 920 shares during the last quarter. Larson Financial Group LLC purchased a new stake in shares of Burke & Herbert Financial Services during the 1st quarter valued at approximately $141,000. Finally, Quantbot Technologies LP lifted its holdings in Burke & Herbert Financial Services by 360,400.0% in the first quarter. Quantbot Technologies LP now owns 3,605 shares of the company's stock valued at $202,000 after acquiring an additional 3,604 shares during the last quarter.

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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