Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Burke & Herbert Financial Services (NASDAQ:BHRB) Stock

Burke & Herbert Financial Services (NASDAQ:BHRB) had its price target hoisted by Keefe, Bruyette & Woods from $72.00 to $79.00 in a research note released on Wednesday,Benzinga reports. The brokerage currently has a market perform rating on the stock.

Separately, DA Davidson initiated coverage on 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.

Burke & Herbert Financial Services Stock Performance

NASDAQ BHRB opened at $70.10 on Wednesday. The firm has a market capitalization of $1.05 billion and a P/E ratio of 9.12. The stock has a 50-day simple moving average of $65.09 and a two-hundred day simple moving average of $60.07. 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.

Burke & Herbert Financial Services Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 15th were issued a $0.55 dividend. This is a boost from Burke & Herbert Financial Services’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.20 dividend on an annualized basis and a yield of 3.14%. Burke & Herbert Financial Services’s payout ratio is presently 28.61%.

Insider Transactions at Burke & Herbert Financial Services

In other Burke & Herbert Financial Services news, Director Gary L. Hinkle purchased 1,548 shares of Burke & Herbert Financial Services stock in a transaction that occurred on Monday, November 18th. The stock was bought at an average price of $68.50 per share, with a total value of $106,038.00. Following the acquisition, the director now owns 238,355 shares of the company’s stock, valued at $16,327,317.50. This trade represents a 0.65 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders have bought a total of 5,395 shares of company stock valued at $369,972 in the last ninety days. 9.65% of the stock is currently owned by corporate insiders.

Institutional Trading of Burke & Herbert Financial Services

A number of institutional investors and hedge funds have recently made changes to their positions in BHRB. Virtu Financial LLC purchased a new position in shares of Burke & Herbert Financial Services during the 3rd quarter valued at approximately $526,000. Barclays PLC raised its position in Burke & Herbert Financial Services by 204.0% during the third quarter. Barclays PLC now owns 22,225 shares of the company’s stock worth $1,357,000 after acquiring an additional 14,915 shares during the period. Mittelman Wealth Management purchased a new position in Burke & Herbert Financial Services during the third quarter valued at $659,000. Geode Capital Management LLC lifted its holdings in Burke & Herbert Financial Services by 5.2% during the third quarter. Geode Capital Management LLC now owns 306,243 shares of the company’s stock valued at $18,681,000 after purchasing an additional 15,092 shares in the last quarter. Finally, Jane Street Group LLC grew its position in shares of Burke & Herbert Financial Services by 6.9% in the third quarter. Jane Street Group LLC now owns 18,772 shares of the company’s stock valued at $1,145,000 after purchasing an additional 1,218 shares during the period.

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.