Burke & Herbert Financial Services (NASDAQ:BHRB) Price Target Raised to $73.00

Burke & Herbert Financial Services (NASDAQ:BHRB) had its price objective raised by Keefe, Bruyette & Woods from $66.00 to $73.00 in a report released on Monday, MarketBeat reports. Keefe, Bruyette & Woods currently has a market perform rating on the stock.

Burke & Herbert Financial Services Stock Down 5.0 %

Shares of NASDAQ:BHRB opened at $64.29 on Monday. Burke & Herbert Financial Services has a 12 month low of $42.91 and a 12 month high of $70.00. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.72 and a current ratio of 0.72. The company’s fifty day simple moving average is $52.95 and its 200 day simple moving average is $53.94.

Burke & Herbert Financial Services (NASDAQ:BHRB) last released its earnings results on Friday, May 10th. The company reported $0.69 earnings per share for the quarter. The business had revenue of $26.39 million during the quarter. Burke & Herbert Financial Services had a negative net margin of 1.10% and a positive return on equity of 13.11%.

Burke & Herbert Financial Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th will be given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date of this dividend is Thursday, August 15th.

Insider Activity at Burke & Herbert Financial Services

In other Burke & Herbert Financial Services news, Director Gary L. Hinkle bought 2,039 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The stock was acquired at an average price of $50.25 per share, with a total value of $102,459.75. Following the completion of the transaction, the director now owns 222,169 shares in the company, valued at $11,163,992.25. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Gary L. Hinkle acquired 613 shares of the firm’s stock in a transaction dated Monday, May 13th. The stock was bought at an average price of $49.65 per share, with a total value of $30,435.45. Following the transaction, the director now directly owns 216,071 shares in the company, valued at approximately $10,727,925.15. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Gary L. Hinkle acquired 2,039 shares of the firm’s stock in a transaction dated Monday, May 20th. The stock was purchased at an average cost of $50.25 per share, with a total value of $102,459.75. Following the transaction, the director now owns 222,169 shares in the company, valued at $11,163,992.25. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 8,330 shares of company stock valued at $410,321. Corporate insiders own 9.65% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Fortitude Family Office LLC grew its position in shares of 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 valued at $48,000 after acquiring an additional 883 shares during the period. SG Americas Securities LLC boosted its holdings in shares of Burke & Herbert Financial Services by 52.3% during the 4th quarter. SG Americas Securities LLC now owns 3,955 shares of the company’s stock worth $249,000 after buying an additional 1,359 shares during the period. TIAA Trust National Association bought a new stake in shares of Burke & Herbert Financial Services during the 2nd quarter worth about $213,000. Burney Co. bought a new stake in shares of Burke & Herbert Financial Services during the 2nd quarter worth about $246,000. Finally, Folger Nolan Fleming Douglas Capital Management Inc. bought a new stake in shares of Burke & Herbert Financial Services during the 2nd quarter worth about $280,000.

Burke & Herbert Financial Services Company Profile

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.