Burke & Herbert Financial Services Corp. Declares Quarterly Dividend of $0.55 (NASDAQ:BHRB)

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) announced a quarterly dividend on Thursday, July 23rd. Investors of record on Friday, August 14th will be paid a dividend of 0.55 per share on Tuesday, September 1st. This represents a c) annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Friday, August 14th.

Burke & Herbert Financial Services has a payout ratio of 28.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Burke & Herbert Financial Services to earn $8.75 per share next year, which means the company should continue to be able to cover its $2.20 annual dividend with an expected future payout ratio of 25.1%.

Burke & Herbert Financial Services Price Performance

BHRB stock opened at $70.77 on Friday. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of 9.18 and a beta of 0.58. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.78 and a quick ratio of 0.78. The company has a 50 day simple moving average of $67.08 and a 200 day simple moving average of $65.41. Burke & Herbert Financial Services has a 1 year low of $56.11 and a 1 year high of $73.69.

Burke & Herbert Financial Services (NASDAQ:BHRB) last issued its earnings results on Thursday, July 23rd. The company reported $2.03 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.05. The firm had revenue of $106.90 million for the quarter, compared to analyst estimates of $112.86 million. Burke & Herbert Financial Services had a net margin of 24.04% and a return on equity of 14.46%. Research analysts anticipate that Burke & Herbert Financial Services will post 8.33 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Freedom Capital raised Burke & Herbert Financial Services from a “hold” rating to a “strong-buy” rating in a report on Friday, May 15th. DA Davidson reaffirmed a “neutral” rating and issued a $70.00 target price on shares of Burke & Herbert Financial Services in a report on Monday, April 27th. Finally, Weiss Ratings upgraded Burke & Herbert Financial Services from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, June 29th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $71.75.

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.