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

Burke & Herbert Financial Services (NASDAQ:BHRB) announced its quarterly earnings results on Thursday. The company reported $2.03 EPS for the quarter, beating the consensus estimate of $1.98 by $0.05, FiscalAI reports. Burke & Herbert Financial Services had a return on equity of 14.46% and a net margin of 24.04%.The company had revenue of $106.90 million for the quarter, compared to the consensus estimate of $112.86 million.

Burke & Herbert Financial Services Stock Down 0.3%

NASDAQ BHRB opened at $70.77 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 firm 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 twelve month low of $56.11 and a twelve month high of $73.69. The stock has a market cap of $1.43 billion, a PE ratio of 9.18 and a beta of 0.58.

Burke & Herbert Financial Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.1%. Burke & Herbert Financial Services’s dividend payout ratio is currently 28.53%.

Analyst Ratings Changes

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

Insider Transactions at Burke & Herbert Financial Services

In other Burke & Herbert Financial Services news, Director Jill S. Upson sold 1,112 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $63.30, for a total value of $70,389.60. Following the completion of the sale, the director owned 2,000 shares in the company, valued at approximately $126,600. This trade represents a 35.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Julian Forrest Jr. Barnwell acquired 5,000 shares of the firm’s stock in a transaction dated Monday, May 11th. The shares were purchased at an average cost of $63.05 per share, for a total transaction of $315,250.00. Following the acquisition, the director directly owned 208,939 shares in the company, valued at $13,173,603.95. This represents a 2.45% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders have bought 12,300 shares of company stock valued at $774,450. 11.99% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Quantbot Technologies LP grew its stake in shares of Burke & Herbert Financial Services by 8.1% in the 2nd quarter. Quantbot Technologies LP now owns 3,897 shares of the company’s stock valued at $233,000 after purchasing an additional 292 shares during the period. Rhumbline Advisers raised its holdings in shares of Burke & Herbert Financial Services by 1.7% in the 2nd quarter. Rhumbline Advisers now owns 17,961 shares of the company’s stock worth $1,073,000 after buying an additional 298 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Burke & Herbert Financial Services by 4.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,030 shares of the company’s stock worth $451,000 after buying an additional 319 shares during the period. Kestra Advisory Services LLC bought a new position in shares of Burke & Herbert Financial Services during the 4th quarter worth approximately $30,000. Finally, Swiss National Bank boosted its stake in Burke & Herbert Financial Services by 1.9% in the 4th quarter. Swiss National Bank now owns 26,600 shares of the company’s stock valued at $1,657,000 after buying an additional 500 shares in the last quarter.

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.