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

Burke & Herbert Financial Services (NASDAQ:BHRB) announced its quarterly earnings data on Friday. The company reported $1.77 earnings per share (EPS) for the quarter, hitting 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 Stock Performance

NASDAQ BHRB traded up $0.65 during midday trading on Friday, hitting $62.40. The company had a trading volume of 22,421 shares, compared to its average volume of 29,422. The firm has a fifty day simple moving average of $65.34 and a two-hundred day simple moving average of $63.46. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.83 and a current ratio of 0.83. Burke & Herbert Financial Services has a fifty-two week low of $46.00 and a fifty-two week high of $75.32.

Insider Buying and Selling

In other Burke & Herbert Financial Services news, Director Julian Forrest Jr. Barnwell purchased 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, with a total value of $206,250.00. Following the completion of the transaction, the director now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gary L. Hinkle purchased 1,548 shares of the business’s stock in a transaction on Monday, November 18th. The shares were acquired at an average price of $68.50 per share, with a total value of $106,038.00. Following the purchase, the director now owns 238,355 shares of the company’s stock, valued at approximately $16,327,317.50. This trade represents a 0.65 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 8,950 shares of company stock valued at $614,711 over the last three months. 9.65% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. DA Davidson began 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 objective for the company. Keefe, Bruyette & Woods upped their price target 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.

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.