Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Receives Consensus Rating of “Hold” from Brokerages

Shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) have earned a consensus recommendation of “Hold” from the five ratings firms that are currently covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $71.50.

BHRB has been the subject of several recent research reports. Zacks Research upgraded shares of Burke & Herbert Financial Services from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th. DA Davidson lowered Burke & Herbert Financial Services from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. Weiss Ratings reissued a “hold (c+)” rating on shares of Burke & Herbert Financial Services in a report on Monday. Finally, Summit Redstone set a $71.00 price objective on Burke & Herbert Financial Services in a research note on Thursday, October 9th.

Burke & Herbert Financial Services Stock Down 2.3%

Burke & Herbert Financial Services stock opened at $63.11 on Wednesday. The stock has a market cap of $948.54 million, a PE ratio of 8.96 and a beta of 0.97. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.81 and a current ratio of 0.81. Burke & Herbert Financial Services has a one year low of $47.57 and a one year high of $70.51. The stock has a fifty day moving average of $63.28 and a 200 day moving average of $61.82.

Burke & Herbert Financial Services (NASDAQ:BHRB) last announced its earnings results on Friday, January 26th. The company reported $1.82 earnings per share (EPS) for the quarter. Burke & Herbert Financial Services had a return on equity of 14.95% and a net margin of 21.68%.The business had revenue of $32.13 million for the quarter. As a group, sell-side analysts predict that Burke & Herbert Financial Services will post 8.05 EPS for the current year.

Burke & Herbert Financial Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Friday, November 14th were paid a dividend of $0.55 per share. The ex-dividend date was Friday, November 14th. This represents a $2.20 dividend on an annualized basis and a yield of 3.5%. Burke & Herbert Financial Services’s dividend payout ratio (DPR) is presently 31.25%.

Insider Buying and Selling at Burke & Herbert Financial Services

In other news, Director Shawn Patrick Mclaughlin acquired 1,000 shares of Burke & Herbert Financial Services stock in a transaction dated Tuesday, October 28th. The stock was purchased at an average cost of $61.00 per share, with a total value of $61,000.00. Following the completion of the purchase, the director directly owned 67,000 shares in the company, valued at approximately $4,087,000. This trade represents a 1.52% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 10.92% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Voleon Capital Management LP increased its stake in Burke & Herbert Financial Services by 38.8% in the 3rd quarter. Voleon Capital Management LP now owns 9,651 shares of the company’s stock worth $595,000 after buying an additional 2,697 shares in the last quarter. Verition Fund Management LLC lifted its holdings in Burke & Herbert Financial Services by 36.9% in the 3rd quarter. Verition Fund Management LLC now owns 5,423 shares of the company’s stock worth $335,000 after purchasing an additional 1,463 shares in the last quarter. Mariner LLC grew its holdings in Burke & Herbert Financial Services by 24.9% during the 3rd quarter. Mariner LLC now owns 7,497 shares of the company’s stock valued at $463,000 after buying an additional 1,495 shares in the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in shares of Burke & Herbert Financial Services in the third quarter worth $1,356,000. Finally, Focus Partners Wealth boosted its position in shares of Burke & Herbert Financial Services by 22.3% during the third quarter. Focus Partners Wealth now owns 6,379 shares of the company’s stock worth $385,000 after acquiring an additional 1,162 shares during the last quarter.

Burke & Herbert Financial Services Company Profile

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.