Burke & Herbert Financial Services (NASDAQ:BHRB) Releases 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, meeting analysts’ consensus estimates 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 Up 1.0 %

Burke & Herbert Financial Services stock traded up $0.64 during mid-day trading on Friday, hitting $62.39. The company had a trading volume of 13,276 shares, compared to its average volume of 29,422. 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 1 year low of $46.00 and a 1 year high of $75.32. The business has a fifty day moving average of $65.34 and a 200 day moving average of $63.46.

Wall Street Analyst Weigh In

BHRB has been the subject of a number of recent analyst reports. DA Davidson assumed coverage on shares of Burke & Herbert Financial Services in a report on Wednesday, October 16th. They set a “buy” rating and a $76.00 price target for the company. Keefe, Bruyette & Woods upped their price target on Burke & Herbert Financial Services from $72.00 to $79.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th.

Insider Transactions at Burke & Herbert Financial Services

In other news, Director Shawn Patrick Mclaughlin bought 555 shares of Burke & Herbert Financial Services stock in a transaction dated Monday, December 9th. The stock was acquired at an average cost of $69.35 per share, with a total value of $38,489.25. Following the acquisition, the director now owns 61,000 shares of the company’s stock, valued at approximately $4,230,350. This trade represents a 0.92 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gary L. Hinkle purchased 1,548 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were purchased at an average price of $68.50 per share, for a total transaction of $106,038.00. Following the purchase, the director now directly owns 238,355 shares in the company, valued at $16,327,317.50. The trade was a 0.65 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 8,950 shares of company stock worth $614,711. 9.65% of the stock is currently owned by insiders.

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.