Key Points
- Director Diane Poillon purchased 1,200 BHRB shares at an average price of $73.67, investing $88,404 and increasing her direct holdings by 40.98% to 4,128 shares.
- Burke & Herbert Financial Services reported quarterly EPS of $2.03, beating estimates of $1.98, while revenue of $106.89 million fell short of expectations. The company also declared a quarterly dividend of $0.55 per share, representing a 3.0% yield.
- Analysts maintain a consensus “Moderate Buy” rating with a $75.25 target price; BHRB recently traded at $73.15, near its 52-week high of $75.08.
Burke & Herbert Financial Services Corp. (NASDAQ:BHRB - Get Free Report) Director Diane Poillon bought 1,200 shares of the business's stock in a transaction dated Wednesday, August 12th. The shares were acquired at an average cost of $73.67 per share, for a total transaction of $88,404.00. Following the transaction, the director directly owned 4,128 shares in the company, valued at approximately $304,109.76. This represents a 40.98% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website.
Burke & Herbert Financial Services Price Performance
BHRB stock opened at $73.15 on Friday. The business has a 50 day moving average price of $70.37 and a 200 day moving average price of $66.44. The company has a quick ratio of 0.78, a current ratio of 0.84 and a debt-to-equity ratio of 0.13. The stock has a market cap of $1.48 billion, a price-to-earnings ratio of 11.72 and a beta of 0.57. Burke & Herbert Financial Services Corp. has a fifty-two week low of $57.42 and a fifty-two week high of $75.08.
Burke & Herbert Financial Services (NASDAQ:BHRB - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The company reported $2.03 EPS for the quarter, beating the consensus estimate of $1.98 by $0.05. Burke & Herbert Financial Services had a net margin of 18.86% and a return on equity of 13.66%. The company had revenue of $106.89 million for the quarter, compared to analyst estimates of $112.86 million. Equities research analysts anticipate that Burke & Herbert Financial Services Corp. will post 8.19 earnings per share for the current fiscal year.
Burke & Herbert Financial Services Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 14th will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 3.0%. The ex-dividend date is Friday, August 14th. Burke & Herbert Financial Services's dividend payout ratio (DPR) is currently 35.26%.
Institutional Trading of Burke & Herbert Financial Services
A number of hedge funds have recently added to or reduced their stakes in BHRB. BlackRock Inc. purchased a new position in shares of Burke & Herbert Financial Services in the 2nd quarter valued at approximately $87,556,000. Vanguard Group Inc. increased its holdings in shares of Burke & Herbert Financial Services by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 779,800 shares of the company's stock valued at $48,589,000 after purchasing an additional 14,358 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Burke & Herbert Financial Services by 15.7% during the first quarter. Dimensional Fund Advisors LP now owns 367,948 shares of the company's stock worth $22,919,000 after purchasing an additional 49,957 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Burke & Herbert Financial Services by 68.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 164,263 shares of the company's stock worth $10,235,000 after purchasing an additional 66,778 shares during the last quarter. Finally, Endeavour Capital Advisors Inc. lifted its holdings in shares of Burke & Herbert Financial Services by 22.0% during the fourth quarter. Endeavour Capital Advisors Inc. now owns 125,323 shares of the company's stock worth $7,809,000 after purchasing an additional 22,601 shares during the period.
Wall Street Analyst Weigh In
Several equities analysts have issued reports on the stock. DA Davidson set a $75.00 price objective on shares of Burke & Herbert Financial Services in a research note on Monday, July 27th. Keefe, Bruyette & Woods boosted their price objective on Burke & Herbert Financial Services from $80.00 to $81.00 and gave the company an "outperform" rating in a research note on Friday, July 31st. Wall Street Zen raised Burke & Herbert Financial Services from a "sell" rating to a "hold" rating in a report on Sunday, August 9th. Freedom Capital upgraded shares of Burke & Herbert Financial Services from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 15th. Finally, Weiss Ratings raised shares of Burke & Herbert Financial Services from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday. One equities 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.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $75.25.
Read Our Latest Report on Burke & Herbert Financial Services
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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
