Burke & Herbert Financial Services (NASDAQ:BHRB) Now Covered by Analysts at DA Davidson

DA Davidson initiated coverage on shares of Burke & Herbert Financial Services (NASDAQ:BHRB) in a research report released on Wednesday morning, MarketBeat reports. The brokerage issued a buy rating and a $76.00 price objective on the stock. DA Davidson also issued estimates for Burke & Herbert Financial Services’ Q3 2024 earnings at $1.71 EPS, FY2024 earnings at $6.45 EPS and FY2025 earnings at $7.65 EPS.

Separately, Keefe, Bruyette & Woods lifted their price objective on Burke & Herbert Financial Services from $66.00 to $73.00 and gave the stock a “market perform” rating in a research report on Monday, July 29th.

Burke & Herbert Financial Services Stock Down 1.3 %

BHRB opened at $63.73 on Wednesday. The company has a 50-day moving average price of $62.78 and a 200 day moving average price of $56.46. Burke & Herbert Financial Services has a twelve month low of $42.91 and a twelve month high of $70.00. The company has a market cap of $946.26 million and a PE ratio of 7.58. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.16.

Burke & Herbert Financial Services (NASDAQ:BHRB) last issued its earnings results on Friday, July 26th. The company reported $2.04 EPS for the quarter. The business had revenue of $69.27 million during the quarter. Burke & Herbert Financial Services had a negative net margin of 1.10% and a positive return on equity of 9.96%.

Burke & Herbert Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were issued a $0.53 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $2.12 annualized dividend and a yield of 3.33%. Burke & Herbert Financial Services’s payout ratio is 25.21%.

Insider Activity

In other news, Director Gary L. Hinkle purchased 5,000 shares of Burke & Herbert Financial Services stock in a transaction dated Friday, August 23rd. The shares were purchased at an average price of $68.09 per share, with a total value of $340,450.00. Following the transaction, the director now owns 233,155 shares in the company, valued at $15,875,523.95. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 9.65% of the company’s stock.

Institutional Investors Weigh In On Burke & Herbert Financial Services

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BHRB. Dimensional Fund Advisors LP purchased a new position in shares of Burke & Herbert Financial Services during the 2nd quarter worth approximately $18,137,000. Burke & Herbert Bank & Trust Co. boosted its stake in shares of Burke & Herbert Financial Services by 50.6% in the second quarter. Burke & Herbert Bank & Trust Co. now owns 308,251 shares of the company’s stock valued at $15,715,000 after purchasing an additional 103,527 shares during the period. American Century Companies Inc. acquired a new position in shares of Burke & Herbert Financial Services in the second quarter valued at approximately $3,091,000. Renaissance Technologies LLC purchased a new stake in shares of Burke & Herbert Financial Services during the second quarter worth $2,827,000. Finally, Verdence Capital Advisors LLC purchased a new position in Burke & Herbert Financial Services in the second quarter valued at $2,218,000.

Burke & Herbert Financial Services Company Profile

Burke & Herbert Financial Services Corp. operates as the bank holding company for Burke & Herbert Bank & Trust Company that provides various community banking products and services in Virginia and Maryland. It offers consumer and commercial deposit products, such as digital banking, demand, negotiable order of withdrawal, money market, and savings accounts, as well as certificates of deposit.