Keefe, Bruyette & Woods Boosts Burke & Herbert Financial Services (NASDAQ:BHRB) Price Target to $79.00

Burke & Herbert Financial Services (NASDAQ:BHRB) had its target price lifted by stock analysts at Keefe, Bruyette & Woods from $72.00 to $79.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price target indicates a potential upside of 12.63% from the stock’s previous close.

Separately, DA Davidson started coverage on Burke & Herbert Financial Services in a research report on Wednesday, October 16th. They issued a “buy” rating and a $76.00 target price on the stock.

Burke & Herbert Financial Services Stock Performance

BHRB stock opened at $70.14 on Wednesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.83 and a quick ratio of 0.83. Burke & Herbert Financial Services has a 1 year low of $46.00 and a 1 year high of $75.32. The company has a market cap of $1.05 billion and a P/E ratio of 9.12. The stock’s fifty day moving average price is $64.91 and its 200-day moving average price is $59.93.

Insider Activity

In related news, Director Gary L. Hinkle acquired 1,548 shares of the stock in a transaction dated Monday, November 18th. The shares were purchased at an average cost of $68.50 per share, with a total value of $106,038.00. Following the transaction, the director now directly owns 238,355 shares in the company, valued at approximately $16,327,317.50. This represents a 0.65 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 9.65% of the company’s stock.

Institutional Investors Weigh In On Burke & Herbert Financial Services

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. HHM Wealth Advisors LLC purchased a new stake in shares of Burke & Herbert Financial Services in the second quarter worth $29,000. LSV Asset Management bought a new position in Burke & Herbert Financial Services in the 2nd quarter worth $108,000. Quantbot Technologies LP purchased a new stake in Burke & Herbert Financial Services in the 3rd quarter worth $118,000. Truist Financial Corp bought a new stake in Burke & Herbert Financial Services during the second quarter valued at about $202,000. Finally, TIAA Trust National Association purchased a new position in shares of Burke & Herbert Financial Services in the second quarter valued at about $213,000.

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.