Q3 Earnings Forecast for BHRB Issued By DA Davidson

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) – Analysts at DA Davidson issued their Q3 2024 earnings per share (EPS) estimates for Burke & Herbert Financial Services in a report issued on Wednesday, October 16th. DA Davidson analyst M. Navas expects that the company will post earnings per share of $1.71 for the quarter. 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’ FY2024 earnings at $6.45 EPS and FY2025 earnings at $7.65 EPS.

Separately, Keefe, Bruyette & Woods upped their price target on Burke & Herbert Financial Services from $66.00 to $73.00 and gave the stock a “market perform” rating in a report on Monday, July 29th.

Burke & Herbert Financial Services Trading Down 1.3 %

Shares of NASDAQ BHRB opened at $63.73 on Friday. The stock has a market capitalization of $946.26 million and a PE ratio of 7.58. The stock has a fifty day simple moving average of $62.78 and a 200-day simple moving average of $56.44. Burke & Herbert Financial Services has a twelve month low of $42.91 and a twelve month high of $70.00. 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 (NASDAQ:BHRB) last issued its quarterly earnings data on Friday, July 26th. The company reported $2.04 earnings per share 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 business had revenue of $69.27 million during the quarter.

Institutional Trading of Burke & Herbert Financial Services

Several institutional investors and hedge funds have recently added to or reduced their stakes in BHRB. HHM Wealth Advisors LLC purchased a new position in shares of Burke & Herbert Financial Services during the 2nd quarter worth approximately $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 purchased a new position in shares of Burke & Herbert Financial Services during the 2nd quarter worth approximately $108,000. Truist Financial Corp purchased a new position in Burke & Herbert Financial Services in the 2nd quarter valued at approximately $202,000. Finally, TIAA Trust National Association purchased a new position in Burke & Herbert Financial Services in the 2nd quarter valued at approximately $213,000.

Insider Transactions at Burke & Herbert Financial Services

In other news, Director Gary L. Hinkle bought 5,000 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was purchased at an average cost of $68.09 per share, with a total value of $340,450.00. Following the transaction, the director now directly owns 233,155 shares in the company, valued at $15,875,523.95. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 9.65% of the company’s stock.

Burke & Herbert Financial Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th were given a dividend of $0.53 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $2.12 annualized dividend and a dividend yield of 3.33%. Burke & Herbert Financial Services’s dividend payout ratio is currently 25.21%.

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.