DA Davidson Begins Coverage on Burke & Herbert Financial Services (NASDAQ:BHRB)

Research analysts at DA Davidson initiated coverage on shares of Burke & Herbert Financial Services (NASDAQ:BHRB - Get Free Report) in a research report issued to clients and investors on Wednesday, Marketbeat Ratings reports. The brokerage set a "buy" rating and a $76.00 price target on the stock. DA Davidson's target price suggests a potential upside of 18.62% from the company's current price.

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

Burke & Herbert Financial Services Stock Up 4.9 %

NASDAQ:BHRB traded up $2.97 during midday trading on Wednesday, hitting $64.07. 43,136 shares of the company were exchanged, compared to its average volume of 34,799. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.16. Burke & Herbert Financial Services has a fifty-two week low of $42.91 and a fifty-two week high of $70.00. The company has a market capitalization of $951.31 million and a PE ratio of 7.62. The company has a fifty day simple moving average of $62.63 and a 200 day simple moving average of $56.32.

Burke & Herbert Financial Services (NASDAQ:BHRB - Get Free Report) last posted its earnings results on Friday, July 26th. The company reported $2.04 earnings per share for the quarter. The business 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%.

Insider Activity at Burke & Herbert Financial Services

In related news, Director Gary L. Hinkle bought 5,000 shares of the stock in a transaction on Friday, August 23rd. The shares were bought at an average cost of $68.09 per share, for a total transaction of $340,450.00. Following the purchase, the director now owns 233,155 shares of the company's stock, valued at $15,875,523.95. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 9.65% of the stock is currently owned by insiders.

Institutional Trading of Burke & Herbert Financial Services

Several hedge funds have recently made changes to their positions in the company. HHM Wealth Advisors LLC acquired a new position in shares of Burke & Herbert Financial Services during the second quarter worth about $29,000. Fortitude Family Office LLC raised its stake in shares of 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 worth $48,000 after buying an additional 883 shares in the last quarter. LSV Asset Management acquired a new stake in shares of Burke & Herbert Financial Services in the 2nd quarter valued at approximately $108,000. Truist Financial Corp purchased a new stake in shares of Burke & Herbert Financial Services in the second quarter valued at approximately $202,000. Finally, TIAA Trust National Association purchased a new position in Burke & Herbert Financial Services in the second quarter worth $213,000.

Burke & Herbert Financial Services Company Profile

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.