Equities Analysts Issue Forecasts for BHRB Q3 Earnings

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB - Free Report) - Equities research analysts at DA Davidson issued their Q3 2024 EPS estimates for shares of Burke & Herbert Financial Services in a research note issued on Wednesday, October 16th. DA Davidson analyst M. Navas forecasts that the company will post earnings per share of $1.71 for the quarter. DA Davidson currently has a "Buy" rating and a $76.00 price target on the stock. DA Davidson also issued estimates for Burke & Herbert Financial Services' FY2024 earnings at $6.45 EPS and FY2025 earnings at $7.65 EPS.

Burke & Herbert Financial Services (NASDAQ:BHRB - Get Free Report) last released its quarterly earnings results on Friday, July 26th. The company reported $2.04 earnings per share (EPS) for the quarter. The company had revenue of $69.27 million during the quarter. Burke & Herbert Financial Services had a positive return on equity of 9.96% and a negative net margin of 1.10%.

Separately, Keefe, Bruyette & Woods raised their price objective on shares of Burke & Herbert Financial Services from $66.00 to $73.00 and gave the company a "market perform" rating in a research note on Monday, July 29th.

Burke & Herbert Financial Services Price Performance

Burke & Herbert Financial Services stock traded down $0.87 during trading hours on Friday, hitting $63.73. 32,803 shares of the company traded hands, compared to its average volume of 34,759. Burke & Herbert Financial Services has a 1-year low of $42.91 and a 1-year high of $70.00. The firm has a market cap of $946.26 million and a P/E ratio of 7.61. The firm's 50-day simple moving average is $62.72 and its two-hundred day simple moving average is $56.38. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.16.

Burke & Herbert Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th were issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date was Thursday, August 15th. Burke & Herbert Financial Services's payout ratio is currently 25.21%.

Insiders Place Their Bets

In other Burke & Herbert Financial Services news, Director Gary L. Hinkle bought 5,000 shares of the business's stock in a transaction that occurred on Friday, August 23rd. The stock was acquired at an average cost of $68.09 per share, with a total value of $340,450.00. Following the completion of the purchase, the director now directly owns 233,155 shares in the company, valued at approximately $15,875,523.95. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 9.65% of the stock is owned by company insiders.

Hedge Funds Weigh In On Burke & Herbert Financial Services

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in Burke & Herbert Financial Services by 1.4% during the first quarter. Vanguard Group Inc. now owns 341,705 shares of the company's stock valued at $19,146,000 after buying an additional 4,574 shares in the last quarter. Quadrature Capital Ltd acquired a new position in Burke & Herbert Financial Services in the 1st quarter worth approximately $392,000. Folger Nolan Fleming Douglas Capital Management Inc. purchased a new position in Burke & Herbert Financial Services during the 2nd quarter worth approximately $280,000. Fortitude Family Office LLC raised its stake in Burke & Herbert Financial Services by 1,666.0% during the 2nd quarter. Fortitude Family Office LLC now owns 936 shares of the company's stock valued at $48,000 after purchasing an additional 883 shares during the period. Finally, Burke & Herbert Bank & Trust Co. lifted its holdings in shares of Burke & Herbert Financial Services by 50.6% in the second quarter. Burke & Herbert Bank & Trust Co. now owns 308,251 shares of the company's stock valued at $15,715,000 after purchasing an additional 103,527 shares in the last quarter.

About Burke & Herbert Financial Services

Burke & Herbert Financial Services Corp. operates as the bank holding company for Burke & Herbert Bank & Trust Company that provides various community banking products and services in Virginia and Maryland. It offers consumer and commercial deposit products, such as digital banking, demand, negotiable order of withdrawal, money market, and savings accounts, as well as certificates of deposit.