Burke & Herbert Financial Services (NASDAQ:BHRB) Releases Earnings Results, Meets Expectations

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

Burke & Herbert Financial Services Stock Performance

Shares of NASDAQ BHRB opened at $62.40 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.15. The firm’s 50 day simple moving average is $65.05 and its 200-day simple moving average is $63.55. Burke & Herbert Financial Services has a 12 month low of $46.00 and a 12 month high of $75.32.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on BHRB shares. Keefe, Bruyette & Woods boosted their price objective 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 report on Wednesday, October 16th. They set a “buy” rating and a $76.00 price target for the company.

Insider Buying and Selling

In other news, Director Julian Forrest Jr. Barnwell acquired 3,000 shares of the firm’s stock in a transaction on 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 acquisition, 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 acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Gary L. Hinkle purchased 1,548 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were acquired at an average price of $68.50 per share, for a total transaction of $106,038.00. Following the completion of the transaction, the director now directly owns 238,355 shares of the company’s stock, valued at $16,327,317.50. The trade was a 0.65 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 8,950 shares of company stock valued at $614,711. Corporate insiders own 9.65% of the company’s 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.