Key Points
- Director Shawn Patrick Mclaughlin bought 500 BHRB shares at $71 each, investing $35,500 and increasing his ownership to 71,500 shares.
- Burke & Herbert Financial Services reported quarterly EPS of $2.14, beating estimates of $2.05, while revenue of $119.74 million fell short of expectations.
- The company declared a quarterly dividend of $0.55 per share, equivalent to $2.20 annually and a 3.1% yield; analysts maintain a “Moderate Buy” consensus with a $76.67 price target.
Burke & Herbert Financial Services Corp. (NASDAQ:BHRB - Get Free Report) Director Shawn Mclaughlin bought 500 shares of Burke & Herbert Financial Services stock in a transaction on Thursday, October 29th. The stock was acquired at an average price of $71.00 per share, for a total transaction of $35,500.00. Following the purchase, the director owned 71,500 shares of the company's stock, valued at approximately $5,076,500. This trade represents a 0.70% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Burke & Herbert Financial Services Stock Down 0.8%
NASDAQ:BHRB opened at $70.48 on Friday. Burke & Herbert Financial Services Corp. has a twelve month low of $58.01 and a twelve month high of $75.08. The company has a market cap of $1.42 billion, a price-to-earnings ratio of 8.86 and a beta of 0.58. The stock has a fifty day simple moving average of $70.34 and a 200-day simple moving average of $67.47. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.13.
Burke & Herbert Financial Services (NASDAQ:BHRB - Get Free Report) last posted its quarterly earnings results on Thursday, October 22nd. The company reported $2.14 EPS for the quarter, topping analysts' consensus estimates of $2.05 by $0.09. The firm had revenue of $119.74 million for the quarter, compared to analysts' expectations of $121.32 million. Burke & Herbert Financial Services had a net margin of 18.43% and a return on equity of 14.54%. Analysts anticipate that Burke & Herbert Financial Services Corp. will post 7.88 EPS for the current year.
Burke & Herbert Financial Services Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Friday, November 13th will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Friday, November 13th. Burke & Herbert Financial Services's payout ratio is 36.36%.
Institutional Trading of Burke & Herbert Financial Services
Several institutional investors and hedge funds have recently made changes to their positions in the company. Signaturefd LLC lifted its stake in Burke & Herbert Financial Services by 2,636.4% in the third quarter. Signaturefd LLC now owns 1,505 shares of the company's stock worth $103,000 after acquiring an additional 1,450 shares during the period. NTV Asset Management LLC purchased a new position in Burke & Herbert Financial Services during the 3rd quarter valued at about $465,000. Canton Hathaway LLC purchased a new position in Burke & Herbert Financial Services during the 3rd quarter valued at about $305,000. State of Alaska Department of Revenue increased its position in Burke & Herbert Financial Services by 33.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 808 shares of the company's stock valued at $55,000 after purchasing an additional 202 shares during the period. Finally, Sequoia Financial Advisors LLC bought a new stake in shares of Burke & Herbert Financial Services in the 2nd quarter valued at about $407,000.
Analyst Ratings Changes
BHRB has been the topic of a number of research reports. Weiss Ratings raised shares of Burke & Herbert Financial Services from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, August 12th. Wall Street Zen upgraded Burke & Herbert Financial Services from a "sell" rating to a "hold" rating in a report on Sunday, August 9th. Keefe, Bruyette & Woods boosted 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. Finally, DA Davidson set a $75.00 price objective on Burke & Herbert Financial Services in a research note on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $76.67.
Read Our Latest Report on BHRB
Burke & Herbert Financial Services Company Profile
(
Get Free Report)
Burke & Herbert Financial Services Corp. is the bank holding company for Burke & Herbert Bank & Trust Company, a community bank headquartered in Alexandria, Virginia. The bank traces its history to 1852 and serves consumers, businesses, nonprofit organizations and government-related entities in the Washington, DC, metropolitan region.
Burke & Herbert Bank provides traditional banking services, including checking and savings accounts, certificates of deposit, consumer loans, residential mortgages, commercial real estate financing and business loans.
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