Burke & Herbert Financial Services (NASDAQ:BHRB) Shares Gap Down – What’s Next?

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB – Get Free Report)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $66.95, but opened at $63.87. Burke & Herbert Financial Services shares last traded at $64.08, with a volume of 6,050 shares trading hands.

BHRB has been the subject of several research reports. Summit Redstone set a $71.00 price objective on shares of Burke & Herbert Financial Services in a report on Thursday, October 9th. DA Davidson lowered shares of Burke & Herbert Financial Services from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Burke & Herbert Financial Services in a report on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Burke & Herbert Financial Services currently has a consensus rating of “Hold” and a consensus price target of $71.50.

Read Our Latest Stock Report on Burke & Herbert Financial Services

The firm has a 50 day simple moving average of $64.93 and a 200 day simple moving average of $62.49. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $953.35 million, a PE ratio of 8.22 and a beta of 1.02.

Burke & Herbert Financial Services (NASDAQ:BHRB – Get Free Report) last released its quarterly earnings data on Thursday, January 22nd. The company reported $1.98 EPS for the quarter, topping the consensus estimate of $1.91 by $0.07. Burke & Herbert Financial Services had a return on equity of 15.11% and a net margin of 23.89%.The company had revenue of $86.56 million during the quarter, compared to the consensus estimate of $80.72 million. Equities analysts expect that Burke & Herbert Financial Services Corp. will post 8.05 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Friday, February 13th will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Friday, February 13th. Burke & Herbert Financial Services’s dividend payout ratio is presently 28.50%.

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Burke & Herbert Financial Services by 0.5% during the third quarter. Vanguard Group Inc. now owns 765,442 shares of the company’s stock valued at $47,220,000 after buying an additional 3,616 shares during the last quarter. Geode Capital Management LLC grew its holdings in Burke & Herbert Financial Services by 6.7% during the 2nd quarter. Geode Capital Management LLC now owns 337,425 shares of the company’s stock valued at $20,155,000 after buying an additional 21,258 shares in the last quarter. Burke & Herbert Bank & Trust Co. increased its holdings in Burke & Herbert Financial Services by 3.1% in the 2nd quarter. Burke & Herbert Bank & Trust Co. now owns 259,495 shares of the company’s stock valued at $15,500,000 after acquiring an additional 7,800 shares during the last quarter. Hutchinson Capital Management CA increased its holdings in shares of Burke & Herbert Financial Services by 0.4% in the third quarter. Hutchinson Capital Management CA now owns 258,080 shares of the company’s stock worth $15,921,000 after purchasing an additional 1,000 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in Burke & Herbert Financial Services by 135.6% in the 2nd quarter. American Century Companies Inc. now owns 122,649 shares of the company’s stock worth $7,326,000 after acquiring an additional 70,582 shares during the last quarter.

Burke & Herbert Financial Services, Inc is a bank holding company headquartered in Alexandria, Virginia, and the parent company of Burke & Herbert Bank. The company operates as a community?focused financial institution, offering a full suite of commercial and consumer banking products to individuals, small businesses, and nonprofit organizations in the Washington, DC metropolitan area.
The company’s core banking services include traditional deposit accounts such as checking, savings, money market and certificates of deposit, alongside digital banking platforms for online and mobile account access.
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The company’s core banking services include traditional deposit accounts such as checking, savings, money market and certificates of deposit, alongside digital banking platforms for online and mobile account access.