Burke & Herbert Financial Services (NASDAQ:BHRB) Announces Earnings Results
by Mitch Edgeman · The Markets DailyBurke & Herbert Financial Services (NASDAQ:BHRB – Get Free Report) posted its quarterly earnings results on Thursday. The company reported $1.87 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.87, FiscalAI reports. Burke & Herbert Financial Services had a return on equity of 14.79% and a net margin of 23.89%.The company had revenue of $84.70 million for the quarter, compared to analysts’ expectations of $86.50 million.
Burke & Herbert Financial Services Stock Performance
Shares of BHRB traded up $0.09 during midday trading on Thursday, reaching $64.50. 86,960 shares of the stock were exchanged, compared to its average volume of 96,635. The business’s 50-day moving average price is $64.26 and its 200 day moving average price is $63.86. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.81 and a quick ratio of 0.81. Burke & Herbert Financial Services has a twelve month low of $50.61 and a twelve month high of $70.90. The company has a market capitalization of $970.02 million, a price-to-earnings ratio of 8.35 and a beta of 0.98.
Wall Street Analyst Weigh In
A number of analysts have weighed in on BHRB shares. Freedom Capital cut Burke & Herbert Financial Services from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 25th. Zacks Research cut Burke & Herbert Financial Services from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 2nd. Loop Capital set a $74.00 price target on Burke & Herbert Financial Services in a research note on Wednesday, February 25th. DA Davidson started coverage on Burke & Herbert Financial Services in a research note on Wednesday, February 25th. They issued a “neutral” rating and a $75.00 price target on the stock. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Burke & Herbert Financial Services in a research note on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Burke & Herbert Financial Services has an average rating of “Hold” and an average price target of $72.40.
Read Our Latest Research Report on BHRB
Institutional Trading of Burke & Herbert Financial Services
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Quattro Advisors LLC purchased a new position in shares of Burke & Herbert Financial Services during the fourth quarter worth about $704,000. Verition Fund Management LLC grew its holdings in shares of Burke & Herbert Financial Services by 48.1% during the fourth quarter. Verition Fund Management LLC now owns 8,030 shares of the company’s stock worth $500,000 after buying an additional 2,607 shares during the last quarter. &PARTNERS purchased a new position in shares of Burke & Herbert Financial Services during the fourth quarter worth about $498,000. Ieq Capital LLC grew its holdings in shares of Burke & Herbert Financial Services by 15.0% during the fourth quarter. Ieq Capital LLC now owns 7,898 shares of the company’s stock worth $492,000 after buying an additional 1,029 shares during the last quarter. Finally, Mariner LLC grew its holdings in shares of Burke & Herbert Financial Services by 24.9% during the third quarter. Mariner LLC now owns 7,497 shares of the company’s stock worth $463,000 after buying an additional 1,495 shares during the last quarter.
Burke & Herbert Financial Services Company Profile
Burke & Herbert Financial Services, Inc is a bank holding company headquartered in Alexandria, Virginia, and the parent company of Burke & Herbert Bank. The company operates as a community‐focused financial institution, offering a full suite of commercial and consumer banking products to individuals, small businesses, and nonprofit organizations in the Washington, DC metropolitan area.
The company’s core banking services include traditional deposit accounts such as checking, savings, money market and certificates of deposit, alongside digital banking platforms for online and mobile account access.