DA Davidson Brokers Increase Earnings Estimates for BHRB

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB - Free Report) - Equities researchers at DA Davidson boosted their FY2025 EPS estimates for shares of Burke & Herbert Financial Services in a note issued to investors on Tuesday, January 28th. DA Davidson analyst M. Navas now expects that the company will post earnings of $8.05 per share for the year, up from their previous forecast of $7.55. DA Davidson has a "Buy" rating and a $76.00 price target on the stock. The consensus estimate for Burke & Herbert Financial Services' current full-year earnings is $8.05 per share.

Separately, Keefe, Bruyette & Woods raised Burke & Herbert Financial Services from a "market perform" rating to an "outperform" rating and cut their price target for the company from $79.00 to $76.00 in a report on Monday, January 27th.

Burke & Herbert Financial Services Stock Performance

Shares of NASDAQ BHRB traded down $1.55 during midday trading on Thursday, hitting $62.77. The company's stock had a trading volume of 19,108 shares, compared to its average volume of 30,152. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.83 and a current ratio of 0.83. The firm's fifty day moving average price is $64.61 and its 200-day moving average price is $64.05. The firm has a market cap of $939.47 million and a P/E ratio of 26.36. Burke & Herbert Financial Services has a 1-year low of $46.00 and a 1-year high of $75.32.

Burke & Herbert Financial Services (NASDAQ:BHRB - Get Free Report) last issued its quarterly earnings results on Friday, January 24th. The company reported $1.77 EPS for the quarter, meeting analysts' consensus estimates of $1.77. Burke & Herbert Financial Services had a return on equity of 15.15% and a net margin of 8.88%.

Institutional Investors Weigh In On Burke & Herbert Financial Services

A number of hedge funds and other institutional investors have recently made changes to their positions in BHRB. Dimensional Fund Advisors LP acquired a new position in Burke & Herbert Financial Services during the 2nd quarter worth $18,137,000. Fourthstone LLC increased its stake in shares of Burke & Herbert Financial Services by 29.3% in the third quarter. Fourthstone LLC now owns 397,598 shares of the company's stock worth $24,250,000 after purchasing an additional 90,151 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Burke & Herbert Financial Services by 190.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 108,481 shares of the company's stock worth $6,616,000 after purchasing an additional 71,105 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Burke & Herbert Financial Services by 481.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 33,199 shares of the company's stock valued at $2,025,000 after purchasing an additional 27,490 shares during the period. Finally, State Street Corp grew its holdings in Burke & Herbert Financial Services by 9.9% in the 3rd quarter. State Street Corp now owns 289,576 shares of the company's stock valued at $17,661,000 after buying an additional 26,191 shares during the last quarter.

Insider Activity at Burke & Herbert Financial Services

In related news, Director Shawn Patrick Mclaughlin acquired 1,000 shares of Burke & Herbert Financial Services stock in a transaction dated Wednesday, January 29th. The stock was acquired at an average cost of $63.00 per share, with a total value of $63,000.00. Following the purchase, the director now directly owns 62,000 shares in the company, valued at $3,906,000. The trade was a 1.64 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gary L. Hinkle bought 1,548 shares of the firm's stock in a transaction on Monday, November 18th. The stock was purchased at an average price of $68.50 per share, with a total value of $106,038.00. Following the completion of the acquisition, the director now owns 238,355 shares of the company's stock, valued at approximately $16,327,317.50. This trade represents a 0.65 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 10,950 shares of company stock valued at $742,191 over the last 90 days. 9.65% of the stock is currently owned by corporate insiders.

Burke & Herbert Financial Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Friday, February 14th will be issued a $0.55 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.20 annualized dividend and a dividend yield of 3.51%. Burke & Herbert Financial Services's dividend payout ratio (DPR) is 91.67%.

About Burke & Herbert Financial Services

Burke Herbert Financial Services Corp. is a bank holding company, which engages in the provision of banking products and financial services to small to medium-sized businesses, their owners and employees, professional corporations, non-profits, and individuals. It operates through the following loan portfolio segments: Commercial Real Estate, Owner-Occupied Commercial Real Estate, Acquisition, Construction, and Development, Commercial and Industrial, Single Family Residential (1-4 Units), and Consumer Non-Real Estate and Other.