Burke & Herbert Financial Services (NASDAQ:BHRB) Stock Rating Upgraded by Keefe, Bruyette & Woods

Burke & Herbert Financial Services (NASDAQ:BHRB) was upgraded by stock analysts at Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating in a report released on Monday, Marketbeat.com reports. The brokerage currently has a $76.00 target price on the stock, down from their previous target price of $79.00. Keefe, Bruyette & Woods’ target price would indicate a potential upside of 20.33% from the company’s previous close.

Separately, 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 price objective on the stock.

Burke & Herbert Financial Services Stock Down 0.8 %

Burke & Herbert Financial Services stock opened at $63.16 on Monday. Burke & Herbert Financial Services has a 12 month low of $46.00 and a 12 month high of $75.32. The stock has a fifty day simple moving average of $64.88 and a two-hundred day simple moving average of $63.93. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.15. The firm has a market cap of $945.51 million and a price-to-earnings ratio of 7.99.

Burke & Herbert Financial Services (NASDAQ:BHRB) last issued its earnings results on Friday, January 24th. The company reported $1.77 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.77. Burke & Herbert Financial Services had a return on equity of 12.83% and a net margin of 6.55%. Equities analysts predict that Burke & Herbert Financial Services will post 6.9 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Julian Forrest Jr. Barnwell bought 3,000 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was purchased at an average price of $68.75 per share, for a total transaction of $206,250.00. Following the completion of the transaction, the director now owns 182,939 shares in the company, valued at $12,577,056.25. The trade was a 1.67 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Gary L. Hinkle bought 3,652 shares of the stock in a transaction dated Friday, November 15th. The shares were purchased at an average price of $68.56 per share, with a total value of $250,381.12. Following the completion of the transaction, the director now directly owns 236,807 shares in the company, valued at approximately $16,235,487.92. The trade was a 1.57 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 8,950 shares of company stock valued at $614,711. 9.65% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Quantbot Technologies LP purchased a new position in shares of Burke & Herbert Financial Services during the 3rd quarter worth about $118,000. Truist Financial Corp purchased a new position in Burke & Herbert Financial Services during the 2nd quarter valued at $202,000. The Manufacturers Life Insurance Company bought a new position in Burke & Herbert Financial Services in the 2nd quarter valued at $259,000. SG Americas Securities LLC increased its stake in Burke & Herbert Financial Services by 113.7% in the third quarter. SG Americas Securities LLC now owns 5,067 shares of the company’s stock worth $309,000 after purchasing an additional 2,696 shares during the period. Finally, Modera Wealth Management LLC bought a new stake in shares of Burke & Herbert Financial Services during the third quarter worth $383,000.

Burke & Herbert Financial Services Company Profile

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.