Burke & Herbert Financial Services (NASDAQ:BHRB) Posts Earnings Results, Hits Expectations

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

Burke & Herbert Financial Services Stock Up 1.1 %

NASDAQ:BHRB traded up $0.65 during mid-day trading on Friday, reaching $62.40. The stock had a trading volume of 22,421 shares, compared to its average volume of 29,422. Burke & Herbert Financial Services has a twelve month low of $46.00 and a twelve month high of $75.32. The business has a 50 day simple moving average of $65.34 and a 200 day simple moving average of $63.46. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.83 and a quick ratio of 0.83.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on BHRB shares. DA Davidson started coverage on Burke & Herbert Financial Services in a research report on Wednesday, October 16th. They issued a “buy” rating and a $76.00 target price on the stock. Keefe, Bruyette & Woods raised their price objective on 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.

Insiders Place Their Bets

In other Burke & Herbert Financial Services news, Director Gary L. Hinkle bought 3,652 shares of the company’s stock in a transaction on Friday, November 15th. The stock was purchased at an average cost of $68.56 per share, for a total transaction of $250,381.12. Following the acquisition, the director now owns 236,807 shares of the company’s stock, valued at $16,235,487.92. The trade was a 1.57 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Shawn Patrick Mclaughlin purchased 555 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was bought at an average cost of $69.35 per share, with a total value of $38,489.25. Following the completion of the acquisition, the director now owns 61,000 shares of the company’s stock, valued at approximately $4,230,350. The trade was a 0.92 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 8,950 shares of company stock worth $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.