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

DA Davidson started coverage on shares of Burke & Herbert Financial Services (NASDAQ:BHRB) in a research report released on Wednesday, Marketbeat.com reports. The brokerage issued a buy rating and a $76.00 price target on the stock.

Separately, Keefe, Bruyette & Woods boosted their target price on shares of Burke & Herbert Financial Services from $66.00 to $73.00 and gave the company a “market perform” rating in a research note on Monday, July 29th.

Burke & Herbert Financial Services Stock Performance

NASDAQ:BHRB opened at $64.07 on Wednesday. The firm has a market capitalization of $951.31 million and a PE ratio of 7.62. 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 has a 12-month low of $42.91 and a 12-month high of $70.00. The firm has a 50-day moving average price of $62.63 and a 200 day moving average price of $56.32.

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

Burke & Herbert Financial Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were given a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 3.31%. The ex-dividend date was Thursday, August 15th. Burke & Herbert Financial Services’s payout ratio is presently 25.21%.

Insider Transactions at Burke & Herbert Financial Services

In related news, Director Gary L. Hinkle purchased 5,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was acquired at an average price of $68.09 per share, with a total value of $340,450.00. Following the completion of the acquisition, the director now directly owns 233,155 shares in the company, valued at approximately $15,875,523.95. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 9.65% of the stock is owned by company insiders.

Hedge Funds Weigh In On Burke & Herbert Financial Services

Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Burke & Herbert Financial Services by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 341,705 shares of the company’s stock worth $19,146,000 after purchasing an additional 4,574 shares during the last quarter. Quadrature Capital Ltd acquired a new position in Burke & Herbert Financial Services in the first quarter valued at approximately $392,000. Folger Nolan Fleming Douglas Capital Management Inc. acquired a new stake in Burke & Herbert Financial Services during the 2nd quarter worth $280,000. Fortitude Family Office LLC raised its position in shares of Burke & Herbert Financial Services by 1,666.0% during the 2nd quarter. Fortitude Family Office LLC now owns 936 shares of the company’s stock valued at $48,000 after acquiring an additional 883 shares during the last quarter. Finally, Burke & Herbert Bank & Trust Co. lifted its stake in shares of Burke & Herbert Financial Services by 50.6% in the 2nd 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.

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.