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Investing.com - Freedom Capital Markets initiated coverage on Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) with a Buy rating and a price target of $71.00 on Thursday.
The research firm cited the bank’s "transformational merger" with Summit Financial Group as a key factor in its positive outlook for the financial institution.
Freedom Capital Markets noted that the merger has "established a scaled and diversified regional bank" that is now better positioned in the market.
The firm highlighted Burke & Herbert’s strong capital base, stable core funding, and improved profitability as factors that could drive sustained earnings growth.
The bank operates across a Mid-Atlantic footprint, with the research firm viewing BHRB as a "well-defined investment opportunity" following its strategic combination with Summit Financial Group.
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