Overview

* Burke & Herbert Q3 net income stable at $29.7 mln, EPS at $1.97

* Company's net interest income decreased slightly to $73.8 mln from prior qtr

* Company declared a $0.55 per share regular cash dividend

Outlook

* Company did not provide specific financial guidance for future quarters

Result Drivers

* LOAN ORIGINATIONS - Strong loan originations contributed to Q3 performance, with $228.9 mln in new, relationship-based loan commitments

* DEPOSIT GROWTH - Core deposits increased by $28.8 mln, excluding a decrease in brokered deposits, supporting liquidity

* MARKET EXPANSION - New branch in Bethesda and strong performance in Fredericksburg and Richmond markets exceeded expectations

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 EPS $1.97

Q3 Net $29.96

Income mln

Q3 Net $73.77

Interest mln

Income

Q3 $37 mln

Pretax

Profit

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the banks peer group is "buy"

* Wall Street's median 12-month price target for Burke & Herbert Financial Services Corp ( BHRB ) is $71.50, about 15.9% above its October 21 closing price of $60.14

* The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 8 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)