Burke & Herbert Financial Services Corp. (NASDAQ:BHRB - Free Report) - Stock analysts at DA Davidson raised their FY2024 earnings estimates for shares of Burke & Herbert Financial Services in a research report issued to clients and investors on Tuesday, October 29th. DA Davidson analyst M. Navas now forecasts that the company will post earnings of $6.90 per share for the year, up from their prior estimate of $6.45. DA Davidson has a "Buy" rating and a $76.00 price objective on the stock. DA Davidson also issued estimates for Burke & Herbert Financial Services' Q4 2024 earnings at $1.77 EPS.
Separately, Keefe, Bruyette & Woods decreased their price objective on Burke & Herbert Financial Services from $73.00 to $72.00 and set a "market perform" rating on the stock in a report on Tuesday.
View Our Latest Stock Report on BHRB
Burke & Herbert Financial Services Stock Performance
Shares of BHRB stock traded up $0.87 during mid-day trading on Wednesday, reaching $64.91. 47,613 shares of the company's stock traded hands, compared to its average volume of 35,159. Burke & Herbert Financial Services has a 12 month low of $44.21 and a 12 month high of $70.00. The firm has a 50 day moving average price of $62.94 and a two-hundred day moving average price of $56.95. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.83 and a current ratio of 0.83. The firm has a market capitalization of $970.08 million and a PE ratio of 7.79.
Institutional Trading of Burke & Herbert Financial Services
A number of hedge funds and other institutional investors have recently made changes to their positions in BHRB. HHM Wealth Advisors LLC acquired a new stake in shares of Burke & Herbert Financial Services in the second quarter valued at about $29,000. Fortitude Family Office LLC increased its position in Burke & Herbert Financial Services by 1,666.0% during the second quarter. Fortitude Family Office LLC now owns 936 shares of the company's stock worth $48,000 after purchasing an additional 883 shares during the last quarter. LSV Asset Management acquired a new position in Burke & Herbert Financial Services in the 2nd quarter valued at about $108,000. Truist Financial Corp acquired a new stake in shares of Burke & Herbert Financial Services during the 2nd quarter worth approximately $202,000. Finally, TIAA Trust National Association acquired a new position in Burke & Herbert Financial Services in the second quarter valued at approximately $213,000.
Insider Activity
In related news, Director Gary L. Hinkle bought 5,000 shares of the company's stock in a transaction on Friday, August 23rd. The shares were acquired at an average cost of $68.09 per share, for a total transaction of $340,450.00. Following the purchase, the director now directly owns 233,155 shares of the company's stock, valued at approximately $15,875,523.95. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 9.65% of the company's stock.
Burke & Herbert Financial Services Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 3.39%. This is a positive change from Burke & Herbert Financial Services's previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Friday, November 15th. Burke & Herbert Financial Services's payout ratio is presently 26.16%.
Burke & Herbert Financial Services Company Profile
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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.
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