Burke & Herbert Financial Services (NASDAQ:BHRB) Posts Earnings Results, Hits Estimates

Burke & Herbert Financial Services (NASDAQ:BHRB) released its quarterly earnings results on Friday. The company reported $1.77 earnings per share for the quarter, meeting the consensus estimate of $1.77, Zacks reports. Burke & Herbert Financial Services had a return on equity of 12.83% and a net margin of 6.55%.

Burke & Herbert Financial Services Price Performance

Shares of NASDAQ:BHRB opened at $62.40 on Friday. The firm’s 50 day moving average price is $65.05 and its 200-day moving average price is $63.66. The stock has a market capitalization of $934.00 million and a PE ratio of 26.00. Burke & Herbert Financial Services has a twelve month low of $46.00 and a twelve month high of $75.32. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.15.

Insider Activity

In other news, Director Shawn Patrick Mclaughlin bought 555 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were bought at an average price of $69.35 per share, for a total transaction of $38,489.25. Following the purchase, the director now owns 61,000 shares in the company, valued at $4,230,350. This represents a 0.92 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Julian Forrest Jr. Barnwell acquired 3,000 shares of Burke & Herbert Financial Services stock in a transaction dated Friday, December 13th. The shares were bought at an average price of $68.75 per share, for a total transaction of $206,250.00. Following the transaction, the director now owns 182,939 shares of the company’s stock, valued at approximately $12,577,056.25. The trade was a 1.67 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 8,950 shares of company stock valued at $614,711 in the last 90 days. Company insiders own 9.65% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on BHRB. Keefe, Bruyette & Woods boosted their target price on shares of Burke & Herbert Financial Services from $72.00 to $79.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. DA Davidson started coverage on shares of Burke & Herbert Financial Services in a research note on Wednesday, October 16th. They issued a “buy” rating and a $76.00 target price on the stock.

About Burke & Herbert Financial Services

Burke Herbert Financial Services Corp. is a bank holding company, which engages in the provision of banking products and financial services to small to medium-sized businesses, their owners and employees, professional corporations, non-profits, and individuals. It operates through the following loan portfolio segments: Commercial Real Estate, Owner-Occupied Commercial Real Estate, Acquisition, Construction, and Development, Commercial and Industrial, Single Family Residential (1-4 Units), and Consumer Non-Real Estate and Other.