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

Burke & Herbert Financial Services (NASDAQ:BHRB) was upgraded by Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating in a report released on Monday, MarketBeat reports. The firm currently has a $76.00 price objective on the stock, down from their prior price objective of $79.00. Keefe, Bruyette & Woods’ price target indicates a potential upside of 21.79% from the stock’s current price.

Separately, DA Davidson started coverage on shares of Burke & Herbert Financial Services in a report on Wednesday, October 16th. They issued a “buy” rating and a $76.00 price target for the company.

Burke & Herbert Financial Services Price Performance

NASDAQ BHRB opened at $62.40 on Monday. The company’s fifty day simple moving average is $65.05 and its 200-day simple moving average is $63.77. Burke & Herbert Financial Services has a 52 week low of $46.00 and a 52 week high of $75.32. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.83 and a quick ratio of 0.83.

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

Insider Buying and Selling at Burke & Herbert Financial Services

In other news, Director Julian Forrest Jr. Barnwell acquired 3,000 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was purchased at an average price of $68.75 per share, with a total value of $206,250.00. Following the purchase, the director now owns 182,939 shares of the company’s stock, valued at approximately $12,577,056.25. This trade represents a 1.67 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Gary L. Hinkle purchased 3,652 shares of the stock in a transaction dated Friday, November 15th. The shares were acquired at an average price of $68.56 per share, for a total transaction of $250,381.12. Following the acquisition, the director now directly owns 236,807 shares of the company’s stock, valued at $16,235,487.92. This represents 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 Trading of Burke & Herbert Financial Services

Several hedge funds and other institutional investors have recently modified their holdings of BHRB. Quadrature Capital Ltd grew its stake in shares of Burke & Herbert Financial Services by 4.8% in the third quarter. Quadrature Capital Ltd now owns 12,309 shares of the company’s stock worth $750,000 after acquiring an additional 566 shares during the last quarter. Jane Street Group LLC raised its position in shares of Burke & Herbert Financial Services by 6.9% during the third quarter. Jane Street Group LLC now owns 18,772 shares of the company’s stock valued at $1,145,000 after buying an additional 1,218 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of Burke & Herbert Financial Services in the third quarter valued at about $118,000. SG Americas Securities LLC grew its position in Burke & Herbert Financial Services by 49.8% during the fourth quarter. SG Americas Securities LLC now owns 7,591 shares of the company’s stock worth $473,000 after buying an additional 2,524 shares in the last quarter. Finally, Truist Financial Corp acquired a new position in Burke & Herbert Financial Services in the 2nd quarter valued at approximately $202,000.

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.