Q3 Net Income Hits $36.4M, EPS $1.78 With Adjusted EPS at $2.14
BHRB sits 24% above its 52-week low of $58.01.
Summary
Burke & Herbert reported Q3 net income of $36.387 million, or $1.78 per share, with adjusted EPS of $2.14, and declared a $0.55 dividend. Adjusted EPS rose on the impact of the LINKBANCORP merger. Net interest income came in at $105.016 million. The results land with the stock trading near its 52-week high of $75.09, so expectations were already elevated. This is the first quarterly print since the company priced a $100 million subordinated notes offering at 7.00% in late September, a deal that adds interest expense but strengthens capital. The gap between GAAP EPS of $1.78 and adjusted EPS of $2.14 points to roughly $0.36 per share of one-time items, though the release does not break them out.
At the time of this announcement, BHRB was trading at $71.78 on NASDAQ in the Finance sector, with a market capitalization of approximately $1.4B. The 52-week trading range was $58.01 to $75.09. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.