Short Interest in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Rises By 24.8%

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) was the target of a significant growth in short interest during the month of July. As of July 15th, there was short interest totalling 128,300 shares, a growth of 24.8% from the June 30th total of 102,800 shares. Based on an average trading volume of 38,400 shares, the days-to-cover ratio is presently 3.3 days. Approximately 1.0% of the shares of the stock are sold short.

Burke & Herbert Financial Services Trading Up 7.3 %

Shares of NASDAQ BHRB traded up $4.66 during midday trading on Friday, reaching $68.72. 42,008 shares of the company were exchanged, compared to its average volume of 48,434. The stock’s 50-day moving average price is $51.53 and its 200-day moving average price is $53.65. Burke & Herbert Financial Services has a one year low of $42.91 and a one year high of $69.22. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.72 and a current ratio of 0.72.

Burke & Herbert Financial Services (NASDAQ:BHRB) last issued its quarterly earnings data on Friday, May 10th. The company reported $0.69 earnings per share for the quarter. The company had revenue of $26.39 million for the quarter. Burke & Herbert Financial Services had a net margin of 12.04% and a return on equity of 6.82%.

Burke & Herbert Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th will be issued a $0.53 dividend. The ex-dividend date is Thursday, August 15th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.08%.

Insider Activity at Burke & Herbert Financial Services

In other news, Director Gary L. Hinkle acquired 613 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were acquired at an average cost of $49.65 per share, with a total value of $30,435.45. Following the completion of the purchase, the director now directly owns 216,071 shares of the company’s stock, valued at approximately $10,727,925.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Gary L. Hinkle acquired 613 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were acquired at an average cost of $49.65 per share, with a total value of $30,435.45. Following the completion of the purchase, the director now directly owns 216,071 shares of the company’s stock, valued at approximately $10,727,925.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jose David Riojas bought 1,397 shares of the firm’s stock in a transaction on Monday, June 10th. The shares were bought at an average cost of $47.49 per share, for a total transaction of $66,343.53. Following the purchase, the director now owns 16,000 shares of the company’s stock, valued at approximately $759,840. The disclosure for this purchase can be found here. Insiders have bought 8,730 shares of company stock valued at $431,321 over the last three months. 9.65% of the stock is owned by insiders.

Institutional Investors Weigh In On Burke & Herbert Financial Services

A number of institutional investors and hedge funds have recently made changes to their positions in BHRB. Fortitude Family Office LLC increased its stake in Burke & Herbert Financial Services by 1,666.0% in the 2nd quarter. Fortitude Family Office LLC now owns 936 shares of the company’s stock valued at $48,000 after buying an additional 883 shares during the last quarter. SG Americas Securities LLC increased its stake in Burke & Herbert Financial Services by 52.3% in the 4th quarter. SG Americas Securities LLC now owns 3,955 shares of the company’s stock valued at $249,000 after buying an additional 1,359 shares during the last quarter. Folger Nolan Fleming Douglas Capital Management Inc. purchased a new stake in Burke & Herbert Financial Services in the 2nd quarter valued at about $280,000. Quadrature Capital Ltd purchased a new stake in Burke & Herbert Financial Services in the 1st quarter valued at about $392,000. Finally, Fifth Third Bancorp purchased a new stake in Burke & Herbert Financial Services in the 2nd quarter valued at about $1,167,000.

About Burke & Herbert Financial Services

Burke & Herbert Financial Services Corp. operates as the bank holding company for Burke & Herbert Bank & Trust Company that provides various community banking products and services in Virginia and Maryland. It offers consumer and commercial deposit products, such as digital banking, demand, negotiable order of withdrawal, money market, and savings accounts, as well as certificates of deposit.