Q3 Earnings Forecast for BHRB Issued By DA Davidson

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) – Stock analysts at DA Davidson issued their Q3 2024 earnings per share estimates for Burke & Herbert Financial Services in a research note issued to investors 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 currently has a “Buy” rating and a $76.00 target price 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 raised their price objective on Burke & Herbert Financial Services from $66.00 to $73.00 and gave the company a “market perform” rating in a research report on Monday, July 29th.

Burke & Herbert Financial Services Trading Down 1.3 %

NASDAQ:BHRB opened at $63.73 on Friday. The business’s 50-day moving average is $62.78 and its two-hundred day moving average is $56.44. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.83 and a quick ratio of 0.83. Burke & Herbert Financial Services has a 12 month low of $42.91 and a 12 month high of $70.00. The firm has a market capitalization of $946.26 million and a PE ratio of 7.58.

Burke & Herbert Financial Services (NASDAQ:BHRB) last issued its earnings results 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 firm had revenue of $69.27 million for the quarter.

Hedge Funds Weigh In On Burke & Herbert Financial Services

A number of hedge funds have recently bought and sold shares of BHRB. Dimensional Fund Advisors LP acquired a new position in Burke & Herbert Financial Services in the second quarter worth about $18,137,000. Burke & Herbert Bank & Trust Co. grew its stake in Burke & Herbert Financial Services by 50.6% in the second quarter. Burke & Herbert Bank & Trust Co. now owns 308,251 shares of the company’s stock worth $15,715,000 after purchasing an additional 103,527 shares in the last quarter. American Century Companies Inc. acquired a new position in Burke & Herbert Financial Services in the second quarter worth about $3,091,000. Renaissance Technologies LLC acquired a new position in Burke & Herbert Financial Services in the second quarter valued at approximately $2,827,000. Finally, Verdence Capital Advisors LLC acquired a new position in Burke & Herbert Financial Services in the second quarter valued at approximately $2,218,000.

Insider Transactions at Burke & Herbert Financial Services

In other Burke & Herbert Financial Services news, Director Gary L. Hinkle bought 5,000 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were acquired at an average cost of $68.09 per share, with a total value of $340,450.00. Following the completion of the transaction, the director now owns 233,155 shares in the company, valued at $15,875,523.95. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 9.65% of the company’s stock.

Burke & Herbert Financial Services Announces Dividend

The firm also recently announced 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. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date of this dividend was Thursday, August 15th. Burke & Herbert Financial Services’s payout ratio is 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.