Burke & Herbert Financial Services (NASDAQ:BHRB) Given New $79.00 Price Target at Keefe, Bruyette & Woods

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

Separately, DA Davidson began coverage on Burke & Herbert Financial Services in a research report on Wednesday, October 16th. They set a “buy” rating and a $76.00 price objective for the company.

Burke & Herbert Financial Services Price Performance

Shares of NASDAQ:BHRB opened at $70.14 on Wednesday. The firm has a market cap of $1.05 billion and a price-to-earnings ratio of 9.12. The firm has a fifty day moving average price of $64.91 and a 200 day moving average price of $59.93. Burke & Herbert Financial Services has a fifty-two week low of $46.00 and a fifty-two week high of $75.32. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.83 and a current ratio of 0.83.

Insider Activity

In other Burke & Herbert Financial Services news, Director Gary L. Hinkle bought 3,652 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were purchased at an average cost of $68.56 per share, for a total transaction of $250,381.12. Following the transaction, the director now owns 236,807 shares of the company’s stock, valued at $16,235,487.92. This represents a 1.57 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 9.65% of the company’s stock.

Institutional Inflows and Outflows

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