Burke & Herbert Financial Services (NASDAQ:BHRB - Free Report) had its price objective reduced by Keefe, Bruyette & Woods from $73.00 to $72.00 in a research report released on Tuesday morning, Benzinga reports. They currently have a market perform rating on the stock.
Separately, DA Davidson initiated coverage on shares of Burke & Herbert Financial Services in a report on Wednesday, October 16th. They issued a "buy" rating and a $76.00 price objective for the company.
Check Out Our Latest Stock Analysis on Burke & Herbert Financial Services
Burke & Herbert Financial Services Stock Down 1.6 %
Shares of BHRB traded down $1.03 during mid-day trading on Tuesday, reaching $64.04. The company had a trading volume of 28,683 shares, compared to its average volume of 35,100. 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 50-day moving average price of $62.91 and a 200 day moving average price of $56.86. Burke & Herbert Financial Services has a 52 week low of $43.80 and a 52 week high of $70.00. The company has a market capitalization of $957.08 million and a price-to-earnings ratio of 7.62.
Burke & Herbert Financial Services (NASDAQ:BHRB - Get Free Report) last issued its quarterly earnings results on Friday, July 26th. The company reported $2.04 EPS for the quarter. Burke & Herbert Financial Services had a positive return on equity of 9.96% and a negative net margin of 1.10%. The firm had revenue of $69.27 million for the quarter.
Burke & Herbert Financial Services Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be issued a $0.55 dividend. This is a positive change from Burke & Herbert Financial Services's previous quarterly dividend of $0.53. This represents a $2.20 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date is Friday, November 15th. Burke & Herbert Financial Services's payout ratio is presently 26.16%.
Insider Buying and Selling at Burke & Herbert Financial Services
In related news, Director Gary L. Hinkle bought 5,000 shares of the firm's stock in a transaction on Friday, August 23rd. The stock was acquired 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 in the company, valued at approximately $15,875,523.95. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 9.65% of the company's stock.
Institutional Investors Weigh In On Burke & Herbert Financial Services
Several hedge funds and other institutional investors have recently modified their holdings of BHRB. HHM Wealth Advisors LLC bought a new position in Burke & Herbert Financial Services in the 2nd quarter worth $29,000. Fortitude Family Office LLC boosted its holdings in Burke & Herbert Financial Services by 1,666.0% in 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 during the period. Moors & Cabot Inc. boosted its holdings in Burke & Herbert Financial Services by 6.9% in the 2nd quarter. Moors & Cabot Inc. now owns 28,872 shares of the company's stock worth $1,472,000 after buying an additional 1,851 shares during the period. LSV Asset Management bought a new position in Burke & Herbert Financial Services in the 2nd quarter worth $108,000. Finally, SG Americas Securities LLC boosted its holdings in Burke & Herbert Financial Services by 113.7% in the 3rd quarter. SG Americas Securities LLC now owns 5,067 shares of the company's stock worth $309,000 after buying an additional 2,696 shares during the period.
About Burke & Herbert Financial Services
(
Get Free Report)
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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