Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Receives $71.40 Consensus Price Target from Brokerages

Shares of Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) have been assigned an average rating of “Moderate Buy” from the seven analysts that are currently covering the company, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $71.40.

Several brokerages have recently commented on BHRB. DA Davidson restated a “neutral” rating and set a $70.00 price target on shares of Burke & Herbert Financial Services in a research note on Monday, April 27th. Freedom Capital upgraded shares of Burke & Herbert Financial Services from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 15th. Zacks Research lowered shares of Burke & Herbert Financial Services from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 2nd. Loop Capital set a $74.00 target price on shares of Burke & Herbert Financial Services in a research note on Wednesday, February 25th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Burke & Herbert Financial Services in a research note on Friday, May 8th.

Insider Activity at Burke & Herbert Financial Services

In related news, Director Jose David Riojas purchased 1,000 shares of the firm’s stock in a transaction on Tuesday, May 12th. The shares were bought at an average cost of $62.00 per share, for a total transaction of $62,000.00. Following the transaction, the director directly owned 20,000 shares of the company’s stock, valued at approximately $1,240,000. This trade represents a 5.26% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Shawn Patrick Mclaughlin purchased 1,000 shares of the firm’s stock in a transaction on Tuesday, April 28th. The stock was bought at an average price of $64.80 per share, for a total transaction of $64,800.00. Following the completion of the transaction, the director directly owned 69,000 shares in the company, valued at approximately $4,471,200. The trade was a 1.47% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have purchased 7,300 shares of company stock valued at $460,650. Company insiders own 10.92% of the company’s stock.

Institutional Trading of Burke & Herbert Financial Services

Institutional investors have recently made changes to their positions in the business. LSV Asset Management lifted its holdings in Burke & Herbert Financial Services by 152.5% during the 3rd quarter. LSV Asset Management now owns 40,900 shares of the company’s stock valued at $2,523,000 after purchasing an additional 24,700 shares during the last quarter. Endeavour Capital Advisors Inc. lifted its holdings in Burke & Herbert Financial Services by 65.9% during the 3rd quarter. Endeavour Capital Advisors Inc. now owns 102,722 shares of the company’s stock valued at $6,337,000 after purchasing an additional 40,809 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Burke & Herbert Financial Services by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 779,800 shares of the company’s stock worth $48,589,000 after acquiring an additional 14,358 shares during the last quarter. Alps Advisors Inc. bought a new position in shares of Burke & Herbert Financial Services in the third quarter worth about $457,000. Finally, Alliance Wealth Strategies LLC d b a Brown Edwards Wealth Strategies bought a new position in shares of Burke & Herbert Financial Services in the fourth quarter worth about $563,000.

Burke & Herbert Financial Services Stock Down 1.1%

Shares of NASDAQ:BHRB opened at $62.77 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.78 and a current ratio of 0.78. The company has a market cap of $1.26 billion, a PE ratio of 8.14 and a beta of 0.74. Burke & Herbert Financial Services has a 52 week low of $54.45 and a 52 week high of $70.90. The firm has a 50 day simple moving average of $63.18 and a 200 day simple moving average of $64.29.

Burke & Herbert Financial Services (NASDAQ:BHRB) last issued its quarterly earnings results on Thursday, April 23rd. The company reported $1.87 EPS for the quarter, meeting the consensus estimate of $1.87. The business had revenue of $84.70 million during the quarter, compared to the consensus estimate of $86.50 million. Burke & Herbert Financial Services had a net margin of 24.04% and a return on equity of 14.46%. As a group, research analysts expect that Burke & Herbert Financial Services will post 8.33 earnings per share for the current year.

Burke & Herbert Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 15th will be paid a $0.55 dividend. The ex-dividend date is Friday, May 15th. 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 28.53%.

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.