KBRA Assigns Ratings to Burke & Herbert Financial Services Corp.
Burke & Herbert Financial Services Corp. (BHRB)
NASDAQ:AMEX Investor Relations:
skiburke.com
Company Research
Source: Business Wire
NEW YORK--(BUSINESS WIRE)--KBRA assigns a senior unsecured debt rating of BBB, a subordinated debt rating of BBB-, and a short-term debt rating of K3 for Burke & Herbert Financial Services Corp. (NASDAQ: BHRB)(“the company”). Additionally, KBRA assigns deposit and senior unsecured debt ratings of BBB+, a subordinated debt rating of BBB, and short-term deposit and debt ratings of K2 for its subsidiary, Burke and Herbert Bank and Trust Company. The Outlook for all long-term ratings is Stable.The ratings are supported by the company’s strong funding profile which includes a limited reliance on wholesale borrowings (core deposits were 85% of total funding at 2Q24) and below-average costs (BHRB’s total cost of funds was 2.13% for 2Q24, 45 bps below the rated peer average). Historically concentrated in the Washington, D.C. metro areas, BHRB’s merger with Summit Financial Group, Inc. ("Summit") (completed 2Q24) further enhances its funding base, by adding greater market diversification a
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BHRB
News
- Burke & Herbert Financial Services Corp. (NASDAQ: BHRB) had its price target lowered by analysts at Keefe, Bruyette & Woods from $73.00 to $72.00. They now have a "market perform" rating on the stock.MarketBeat
- Burke & Herbert Financial Services Corp. Announces Third Quarter 2024 Results and Increases Common Stock DividendPR Newswire
- Burke & Herbert Financial Services Corp. (NASDAQ: BHRB) is now covered by analysts at DA Davidson. They set a "buy" rating and a $76.00 price target on the stock.MarketBeat
- The Burke & Herbert Bank Foundation Reaffirms Local Bank's Commitment to Community Development [Yahoo! Finance]Yahoo! Finance
- The Burke & Herbert Bank Foundation Reaffirms Local Bank's Commitment to Community DevelopmentPR Newswire
BHRB
Earnings
- 10/25/24 - Beat
BHRB
Sec Filings
- 11/19/24 - Form 4
- 11/8/24 - Form 4
- 11/4/24 - Form 4
- BHRB's page on the SEC website