Burke & Herbert Financial Services (NASDAQ:BHRB) Given New $73.00 Price Target at Keefe, Bruyette & Woods

Burke & Herbert Financial Services (NASDAQ:BHRB) had its price target upped by investment analysts at Keefe, Bruyette & Woods from $66.00 to $73.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price objective points to a potential upside of 7.88% from the company’s current price.

Burke & Herbert Financial Services Trading Down 1.5 %

Shares of NASDAQ BHRB traded down $1.05 during midday trading on Monday, reaching $67.67. 13,982 shares of the company traded hands, compared to its average volume of 25,112. Burke & Herbert Financial Services has a 52 week low of $42.91 and a 52 week high of $69.28. The stock has a 50-day moving average price of $51.53 and a 200 day moving average price of $53.62. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.72 and a quick ratio of 0.72.

Burke & Herbert Financial Services (NASDAQ:BHRB) last issued its quarterly earnings data on Friday, May 10th. The company reported $0.69 earnings per share for the quarter. Burke & Herbert Financial Services had a negative net margin of 1.10% and a positive return on equity of 13.11%. The business had revenue of $26.39 million for the quarter.

Insiders Place Their Bets

In other Burke & Herbert Financial Services news, Director Gary L. Hinkle purchased 613 shares of the company’s stock in a transaction on Monday, May 13th. The shares were purchased at an average cost of $49.65 per share, for a total transaction of $30,435.45. Following the completion of the transaction, the director now owns 216,071 shares in the company, valued at $10,727,925.15. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Jose David Riojas acquired 1,397 shares of the business’s stock in a transaction on Monday, June 10th. The shares were purchased at an average price of $47.49 per share, for a total transaction of $66,343.53. Following the acquisition, the director now owns 16,000 shares in the company, valued at $759,840. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Gary L. Hinkle bought 613 shares of the stock in a transaction on Monday, May 13th. The shares were acquired at an average cost of $49.65 per share, for a total transaction of $30,435.45. Following the purchase, the director now owns 216,071 shares in the company, valued at $10,727,925.15. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 8,730 shares of company stock worth $431,321. 9.65% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Burke & Herbert Financial Services

Several institutional investors and hedge funds have recently bought and sold shares of BHRB. Burke & Herbert Bank & Trust Co. grew its stake in Burke & Herbert Financial Services by 50.6% during the 2nd quarter. Burke & Herbert Bank & Trust Co. now owns 308,251 shares of the company’s stock valued at $15,715,000 after acquiring an additional 103,527 shares in the last quarter. Verdence Capital Advisors LLC bought a new stake in shares of Burke & Herbert Financial Services in the 2nd quarter valued at approximately $2,218,000. Bank of New York Mellon Corp grew its stake in shares of Burke & Herbert Financial Services by 96.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 81,204 shares of the company’s stock valued at $4,140,000 after buying an additional 39,769 shares in the last quarter. AA Financial Advisors LLC bought a new stake in shares of Burke & Herbert Financial Services in the 2nd quarter valued at approximately $1,589,000. Finally, Fifth Third Bancorp bought a new stake in shares of Burke & Herbert Financial Services in the 2nd quarter valued at approximately $1,167,000.

Burke & Herbert Financial Services Company Profile

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.