Keefe, Bruyette & Woods Has Lowered Expectations for Burke & Herbert Financial Services (NASDAQ:BHRB) Stock Price

Burke & Herbert Financial Services (NASDAQ:BHRB) had its target price dropped by investment analysts at Keefe, Bruyette & Woods from $73.00 to $72.00 in a report issued on Tuesday, Benzinga reports. The firm currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price target points to a potential upside of 10.92% from the company’s previous close.

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

Burke & Herbert Financial Services Trading Up 1.4 %

NASDAQ:BHRB opened at $64.91 on Tuesday. 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 1-year low of $44.21 and a 1-year high of $70.00. The firm has a market capitalization of $970.08 million and a price-to-earnings ratio of 7.72. The business’s 50-day moving average price is $62.99 and its two-hundred day moving average price is $57.00.

Insider Buying and Selling

In related news, Director Gary L. Hinkle purchased 5,000 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were purchased at an average price of $68.09 per share, with a total value of $340,450.00. Following the completion of the purchase, the director now owns 233,155 shares in the company, valued at $15,875,523.95. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 9.65% of the stock is owned by company insiders.

Institutional Investors Weigh In On Burke & Herbert Financial Services

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. HHM Wealth Advisors LLC bought a new position in Burke & Herbert Financial Services during the 2nd quarter worth about $29,000. Fortitude Family Office LLC grew its holdings in shares of Burke & Herbert Financial Services by 1,666.0% during the second 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 Burke & Herbert Financial Services in the 2nd quarter valued at approximately $108,000. Truist Financial Corp bought a new stake in Burke & Herbert Financial Services in the 2nd quarter valued at approximately $202,000. Finally, TIAA Trust National Association acquired a new position in Burke & Herbert Financial Services during the 2nd quarter worth approximately $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.