Key Points
- Director James Mason Burke sold 1,500 BHRB shares for $109,545 at an average price of $73.03, reducing his direct stake by 0.58% to 258,480 shares.
- Burke & Herbert reported quarterly EPS of $2.03, beating estimates by $0.05, while revenue of $106.89 million fell short of expectations. Shares were recently trading near their one-year high, with a market capitalization of approximately $1.49 billion.
- 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, while several institutional investors initiated positions during the second quarter.
Burke & Herbert Financial Services Corp. (NASDAQ:BHRB - Get Free Report) Director James Mason Burke sold 1,500 shares of the business's stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $73.03, for a total transaction of $109,545.00. Following the completion of the transaction, the director directly owned 258,480 shares of the company's stock, valued at approximately $18,876,794.40. This represents a 0.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Burke & Herbert Financial Services Stock Performance
Shares of BHRB opened at $73.87 on Thursday. 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 company has a market capitalization of $1.49 billion, a price-to-earnings ratio of 11.84 and a beta of 0.57. The company's 50 day simple moving average is $70.01 and its 200 day simple moving average is $66.33. Burke & Herbert Financial Services Corp. has a 1 year low of $57.42 and a 1 year high of $75.08.
Burke & Herbert Financial Services (NASDAQ:BHRB - Get Free Report) last released its earnings results on Thursday, July 23rd. The company reported $2.03 EPS for the quarter, topping the consensus estimate of $1.98 by $0.05. The firm had revenue of $106.89 million during the quarter, compared to analysts' expectations of $112.86 million. Burke & Herbert Financial Services had a net margin of 18.86% and a return on equity of 15.11%. On average, sell-side analysts predict that Burke & Herbert Financial Services Corp. will post 8.19 EPS for the current year.
Burke & Herbert Financial Services Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be issued a dividend of $0.55 per share. The ex-dividend date is Friday, August 14th. This represents a $2.20 annualized dividend and a dividend yield of 3.0%. Burke & Herbert Financial Services's dividend payout ratio (DPR) is 35.26%.
Wall Street Analysts Forecast Growth
BHRB has been the topic of several recent analyst reports. 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. Keefe, Bruyette & Woods lifted their price target on Burke & Herbert Financial Services from $80.00 to $81.00 and gave the company an "outperform" rating in a report on Friday, July 31st. Freedom Capital raised shares of Burke & Herbert Financial Services from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 15th. DA Davidson set a $75.00 price objective on shares of Burke & Herbert Financial Services in a report on Monday, July 27th. Finally, Wall Street Zen raised shares of Burke & Herbert Financial Services from a "sell" rating to a "hold" rating in a research report on Sunday. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $75.25.
Get Our Latest Analysis on BHRB
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Pinnacle Holdings LLC purchased a new stake in Burke & Herbert Financial Services during the second quarter valued at about $3,101,000. BlackRock Inc. acquired a new position in shares of Burke & Herbert Financial Services in the 2nd quarter valued at about $87,556,000. Deutsche Bank AG purchased a new stake in shares of Burke & Herbert Financial Services during the 2nd quarter worth about $1,111,000. Bank of New York Mellon Corp acquired a new stake in Burke & Herbert Financial Services during the 2nd quarter worth approximately $7,555,000. Finally, Stonebridge Financial Group LLC purchased a new position in Burke & Herbert Financial Services in the second quarter valued at approximately $203,000.
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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