Burke & Herbert's Q1 net income falls from previous quarter as deposits dip

Burke & Herbert Financial Services

23/04/2026 21:24

Overview

U.S. regional bank's Q1 net income was $27.1 mln, adjusted diluted EPS $1.87

Company grew loan portfolio while total deposits declined slightly from prior quarter

Regulatory approval received for LINKBANCORP merger, expected to close May 1, 2026

Outlook

Company expects LINKBANK merger to close May 1, 2026, pending customary conditions

Result Drivers

LOAN GROWTH - Co said strong new loan originations contributed to growth in loan portfolio

DEPOSIT DECLINE - Decrease in total deposits mainly due to lower brokered deposits and reduced rates on certain deposit products

HIGHER NON-INTEREST EXPENSE - Increase in salaries, occupancy and equipment costs drove up non-interest expense

Company press release: ID:nGNXbQBDJf

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Adjusted EPS
$1.87
Q1 EPS
$1.79
Q1 Net Income
$27.1 mln
Q1 Net Interest Income
$71.84 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 2 "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 is $74.50, about 15.7% above its April 22 closing price of $64.41

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

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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.)