Burke & Herbert Financial Services (NASDAQ:BHRB) Releases Earnings Results, Beats Expectations By $0.09 EPS

Burke & Herbert Financial Services (NASDAQ:BHRB) announced its quarterly earnings data on Thursday. The company reported $2.14 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.09, FiscalAI reports. Burke & Herbert Financial Services had a net margin of 18.86% and a return on equity of 13.66%. The business had revenue of $119.74 million for the quarter, compared to analyst estimates of $121.32 million.

Burke & Herbert Financial Services Stock Up 3.3%

BHRB stock traded up $2.26 during trading hours on Thursday, reaching $71.73. 196,413 shares of the stock were exchanged, compared to its average volume of 132,140. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.84 and a quick ratio of 0.84. The company has a market cap of $1.45 billion, a price-to-earnings ratio of 11.50 and a beta of 0.58. Burke & Herbert Financial Services has a 12 month low of $58.01 and a 12 month high of $75.08. The firm’s 50-day moving average is $70.55 and its 200-day moving average is $68.34.

Analysts Set New Price Targets

Several research firms have weighed in on BHRB. Keefe, Bruyette & Woods increased their target price on Burke & Herbert Financial Services from $80.00 to $81.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. DA Davidson set a $75.00 price target on shares of Burke & Herbert Financial Services in a research report on Monday, July 27th. Wall Street Zen raised shares of Burke & Herbert Financial Services from a “sell” rating to a “hold” rating in a report on Sunday, August 9th. Finally, Weiss Ratings upgraded shares of Burke & Herbert Financial Services from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Burke & Herbert Financial Services has an average rating of “Moderate Buy” and a consensus price target of $76.67.

Insider Buying and Selling at Burke & Herbert Financial Services

In related news, Director James P. Geary II sold 3,150 shares of Burke & Herbert Financial Services stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $73.93, for a total value of $232,879.50. Following the sale, the director owned 9,457 shares of the company’s stock, valued at approximately $699,156.01. The trade was a 24.99% decrease 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. Also, Director Georgette R. George sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $73.67, for a total value of $73,670.00. Following the transaction, the director directly owned 38,321 shares in the company, valued at $2,823,108.07. This trade represents a 2.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders purchased 1,369 shares of company stock valued at $100,747 and sold 5,650 shares valued at $416,094. 11.99% of the stock is currently owned by corporate insiders.

Burke & Herbert Financial Services Company Profile

Burke & Herbert Financial Services Corp. is the bank holding company for Burke & Herbert Bank & Trust Company, a community bank headquartered in Alexandria, Virginia. The bank traces its history to 1852 and serves consumers, businesses, nonprofit organizations and government-related entities in the Washington, DC, metropolitan region.

Burke & Herbert Bank provides traditional banking services, including checking and savings accounts, certificates of deposit, consumer loans, residential mortgages, commercial real estate financing and business loans.