Key Points
- Director James Geary II sold 3,150 BHRB shares at an average price of $73.93, generating $232,879.50 and reducing his ownership by nearly 25% to 9,457 shares.
- Burke & Herbert reported quarterly EPS of $2.03, beating estimates of $1.98, though revenue of $106.9 million came in below the $112.86 million consensus forecast.
- The company declared a quarterly dividend of $0.55 per share, equivalent to $2.20 annually and a 3.0% yield; analysts maintain a “Moderate Buy” consensus with an average price target of $75.25.
Burke & Herbert Financial Services Corp. (NASDAQ:BHRB - Get Free Report) Director James Geary II sold 3,150 shares of the business's stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $73.93, for a total value of $232,879.50. Following the completion of the sale, the director owned 9,457 shares of the company's stock, valued at $699,156.01. This trade represents a 24.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Burke & Herbert Financial Services Stock Performance
Shares of NASDAQ BHRB opened at $74.12 on Thursday. 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 firm has a market cap of $1.49 billion, a price-to-earnings ratio of 11.88 and a beta of 0.57. The stock's fifty day moving average price is $68.98 and its two-hundred day moving average price is $66.04. Burke & Herbert Financial Services Corp. has a one year low of $56.39 and a one year high of $75.08.
Burke & Herbert Financial Services (NASDAQ:BHRB - Get Free Report) last posted its earnings results on Thursday, July 23rd. The company reported $2.03 earnings per share for the quarter, topping analysts' consensus estimates of $1.98 by $0.05. The company had revenue of $106.90 million during the quarter, compared to the consensus estimate of $112.86 million. Burke & Herbert Financial Services had a return on equity of 15.11% and a net margin of 18.86%. On average, equities analysts forecast that Burke & Herbert Financial Services Corp. will post 8.19 EPS for the current year.
Burke & Herbert Financial Services Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be paid a $0.55 dividend. The ex-dividend date is Friday, August 14th. This represents a $2.20 annualized dividend and a yield of 3.0%. Burke & Herbert Financial Services's payout ratio is 35.26%.
Analyst Upgrades and Downgrades
BHRB has been the subject of several recent research reports. Freedom Capital upgraded Burke & Herbert Financial Services from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 15th. 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. DA Davidson set a $75.00 target price on Burke & Herbert Financial Services in a report on Monday, July 27th. Wall Street Zen downgraded Burke & Herbert Financial Services from a "hold" rating to a "sell" rating in a research note on Saturday, August 1st. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Burke & Herbert Financial Services from $80.00 to $81.00 and gave the stock an "outperform" rating in a research report on Friday, July 31st. 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's stock. According to MarketBeat, Burke & Herbert Financial Services currently has a consensus rating of "Moderate Buy" and an average target price of $75.25.
Check Out Our Latest Stock Report on BHRB
Institutional Trading of Burke & Herbert Financial Services
Several institutional investors and hedge funds have recently modified their holdings of the business. Stonebridge Financial Group LLC bought a new position in Burke & Herbert Financial Services in the second quarter valued at about $203,000. Bank of America Corp DE boosted its stake in shares of Burke & Herbert Financial Services by 68.3% in the 1st quarter. Bank of America Corp DE now owns 32,188 shares of the company's stock valued at $2,005,000 after purchasing an additional 13,063 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of Burke & Herbert Financial Services by 46.1% during the 1st quarter. Empowered Funds LLC now owns 67,280 shares of the company's stock valued at $4,191,000 after purchasing an additional 21,227 shares during the last quarter. Quantinno Capital Management LP lifted its stake in Burke & Herbert Financial Services by 13.9% in the 1st quarter. Quantinno Capital Management LP now owns 9,439 shares of the company's stock valued at $588,000 after purchasing an additional 1,150 shares during the last quarter. Finally, Sei Investments Co. boosted its position in Burke & Herbert Financial Services by 144.5% in the first quarter. Sei Investments Co. now owns 8,366 shares of the company's stock valued at $521,000 after buying an additional 4,944 shares in the last quarter.
Burke & Herbert Financial Services Company Profile
(
Get Free Report)
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.
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