Burke & Herbert Financial Services (NASDAQ:BHRB) Announces Quarterly Earnings Results

Burke & Herbert Financial Services (NASDAQ:BHRB) posted its earnings results on Thursday. The company reported $1.98 earnings per share for the quarter, topping analysts’ consensus estimates of $1.91 by $0.07, FiscalAI reports. Burke & Herbert Financial Services had a return on equity of 14.95% and a net margin of 21.68%.The firm had revenue of $86.56 million for the quarter, compared to the consensus estimate of $80.72 million.

Burke & Herbert Financial Services Stock Up 1.6%

Burke & Herbert Financial Services stock traded up $1.05 during mid-day trading on Thursday, reaching $67.06. The stock had a trading volume of 61,418 shares, compared to its average volume of 81,314. Burke & Herbert Financial Services has a one year low of $47.57 and a one year high of $70.51. The company has a 50-day moving average price of $64.55 and a two-hundred day moving average price of $62.46. The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of 9.53 and a beta of 1.02. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.81 and a quick ratio of 0.81.

Insiders Place Their Bets

In other news, Director Shawn Patrick Mclaughlin bought 1,000 shares of the firm’s stock in a transaction on Tuesday, October 28th. The stock was acquired at an average cost of $61.00 per share, with a total value of $61,000.00. Following the completion of the acquisition, the director owned 67,000 shares of the company’s stock, valued at approximately $4,087,000. This represents a 1.52% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 10.92% of the company’s stock.

Institutional Investors Weigh In On Burke & Herbert Financial Services

Several institutional investors and hedge funds have recently made changes to their positions in BHRB. Aquatic Capital Management LLC bought a new position in Burke & Herbert Financial Services in the 3rd quarter valued at approximately $117,000. Tower Research Capital LLC TRC lifted its holdings in shares of Burke & Herbert Financial Services by 585.5% during the second quarter. Tower Research Capital LLC TRC now owns 3,393 shares of the company’s stock valued at $203,000 after purchasing an additional 2,898 shares in the last quarter. Sei Investments Co. purchased a new stake in shares of Burke & Herbert Financial Services during the second quarter valued at $204,000. Quantbot Technologies LP increased its holdings in Burke & Herbert Financial Services by 8.1% in the 2nd quarter. Quantbot Technologies LP now owns 3,897 shares of the company’s stock worth $233,000 after buying an additional 292 shares in the last quarter. Finally, Osaic Holdings Inc. raised its position in Burke & Herbert Financial Services by 318.0% in the 2nd quarter. Osaic Holdings Inc. now owns 4,443 shares of the company’s stock worth $265,000 after buying an additional 3,380 shares during the last quarter.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. DA Davidson cut Burke & Herbert Financial Services from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. Summit Redstone set a $71.00 target price on shares of Burke & Herbert Financial Services in a report on Thursday, October 9th. 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. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Burke & Herbert Financial Services in a research report on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $71.50.

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.