Burke & Herbert Financial Services (NASDAQ:BHRB – Get Free Report) was upgraded by stock analysts at Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Monday, MarketBeat reports. The firm presently has a $76.00 price objective on the stock, down from their prior price objective of $79.00. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 20.33% from the company’s current price.
Separately, DA Davidson assumed 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 on the stock.
Get Our Latest Analysis on Burke & Herbert Financial Services
Burke & Herbert Financial Services Stock Performance
Burke & Herbert Financial Services (NASDAQ:BHRB – Get Free Report) last released its earnings results on Friday, January 24th. The company reported $1.77 EPS for the quarter, hitting analysts’ consensus estimates of $1.77. Burke & Herbert Financial Services had a return on equity of 12.83% and a net margin of 6.55%. Analysts expect that Burke & Herbert Financial Services will post 6.9 earnings per share for the current fiscal year.
Insider Activity at Burke & Herbert Financial Services
In related news, Director Shawn Patrick Mclaughlin purchased 555 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were purchased at an average cost of $69.35 per share, with a total value of $38,489.25. Following the purchase, the director now owns 61,000 shares of the company’s stock, valued at $4,230,350. This represents a 0.92 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gary L. Hinkle acquired 1,548 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were acquired at an average cost of $68.50 per share, with a total value of $106,038.00. Following the purchase, the director now owns 238,355 shares in the company, valued at $16,327,317.50. This represents a 0.65 % increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 8,950 shares of company stock worth $614,711 in the last three months. Company insiders own 9.65% of the company’s stock.
Hedge Funds Weigh In On Burke & Herbert Financial Services
Large investors have recently made changes to their positions in the stock. Fourthstone LLC increased its stake in shares of Burke & Herbert Financial Services by 29.3% during the third quarter. Fourthstone LLC now owns 397,598 shares of the company’s stock worth $24,250,000 after buying an additional 90,151 shares during the period. Dimensional Fund Advisors LP purchased a new stake in Burke & Herbert Financial Services during the second quarter worth $18,137,000. Geode Capital Management LLC raised its position in shares of Burke & Herbert Financial Services by 5.2% during the 3rd quarter. Geode Capital Management LLC now owns 306,243 shares of the company’s stock worth $18,681,000 after purchasing an additional 15,092 shares during the last quarter. State Street Corp raised its stake in Burke & Herbert Financial Services by 9.9% in the 3rd quarter. State Street Corp now owns 289,576 shares of the company’s stock valued at $17,661,000 after purchasing an additional 26,191 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Burke & Herbert Financial Services by 190.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 108,481 shares of the company’s stock worth $6,616,000 after acquiring an additional 71,105 shares during the period.
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.
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