Burke & Herbert Financial Services (NASDAQ:BHRB) Cut to “Hold” at Freedom Capital

Freedom Capital lowered shares of Burke & Herbert Financial Services (NASDAQ:BHRB) from a strong-buy rating to a hold rating in a report issued on Wednesday,Zacks.com reports.

Several other equities research analysts have also commented on BHRB. Weiss Ratings reiterated a “hold (c+)” rating on shares of Burke & Herbert Financial Services in a research note on Monday, December 29th. Citigroup cut Burke & Herbert Financial Services to a “hold” rating in a research report on Wednesday. Loop Capital set a $74.00 price objective on Burke & Herbert Financial Services in a report on Wednesday. DA Davidson assumed coverage on shares of Burke & Herbert Financial Services in a report on Wednesday. They set a “neutral” rating and a $75.00 target price for the company. Finally, Zacks Research upgraded shares of Burke & Herbert Financial Services from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $72.40.

Burke & Herbert Financial Services Stock Performance

NASDAQ:BHRB opened at $64.44 on Wednesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market capitalization of $968.53 million, a PE ratio of 8.35 and a beta of 1.02. Burke & Herbert Financial Services has a fifty-two week low of $47.57 and a fifty-two week high of $70.90. The company has a fifty day moving average of $65.37 and a two-hundred day moving average of $63.50.

Burke & Herbert Financial Services (NASDAQ:BHRB) last released its earnings results on Thursday, January 22nd. The company reported $1.98 EPS for the quarter, topping analysts’ consensus estimates of $1.91 by $0.07. Burke & Herbert Financial Services had a net margin of 23.89% and a return on equity of 15.11%. The business had revenue of $86.56 million during the quarter, compared to analysts’ expectations of $80.72 million. As a group, research analysts forecast that Burke & Herbert Financial Services will post 8.05 earnings per share for the current fiscal year.

Burke & Herbert Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Friday, February 13th will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Friday, February 13th. Burke & Herbert Financial Services’s payout ratio is currently 28.50%.

Institutional Investors Weigh In On Burke & Herbert Financial Services

Several hedge funds and other institutional investors have recently bought and sold shares of BHRB. Quantbot Technologies LP raised its stake in Burke & Herbert Financial Services by 8.1% during the second quarter. Quantbot Technologies LP now owns 3,897 shares of the company’s stock worth $233,000 after purchasing an additional 292 shares during the period. Rhumbline Advisers increased its holdings in shares of Burke & Herbert Financial Services by 1.7% during the 2nd quarter. Rhumbline Advisers now owns 17,961 shares of the company’s stock worth $1,073,000 after buying an additional 298 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Burke & Herbert Financial Services by 4.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,030 shares of the company’s stock valued at $451,000 after buying an additional 319 shares during the period. PNC Financial Services Group Inc. lifted its holdings in Burke & Herbert Financial Services by 22.2% in the second quarter. PNC Financial Services Group Inc. now owns 2,202 shares of the company’s stock valued at $132,000 after acquiring an additional 400 shares during the last quarter. Finally, EJF Capital LLC grew its position in Burke & Herbert Financial Services by 0.9% in the third quarter. EJF Capital LLC now owns 49,850 shares of the company’s stock worth $3,075,000 after acquiring an additional 448 shares during the period.

Burke & Herbert Financial Services Company Profile

Burke & Herbert Financial Services, Inc is a bank holding company headquartered in Alexandria, Virginia, and the parent company of Burke & Herbert Bank. The company operates as a community‐focused financial institution, offering a full suite of commercial and consumer banking products to individuals, small businesses, and nonprofit organizations in the Washington, DC metropolitan area.

The company’s core banking services include traditional deposit accounts such as checking, savings, money market and certificates of deposit, alongside digital banking platforms for online and mobile account access.