Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Short Interest Down 8.3% in November

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) was the target of a large decrease in short interest in November. As of November 15th, there was short interest totalling 114,300 shares, a decrease of 8.3% from the October 31st total of 124,700 shares. Currently, 0.9% of the company’s stock are short sold. Based on an average trading volume of 58,500 shares, the days-to-cover ratio is currently 2.0 days.

Burke & Herbert Financial Services Stock Performance

Shares of NASDAQ:BHRB traded down $0.75 during trading on Tuesday, hitting $69.54. The company’s stock had a trading volume of 9,393 shares, compared to its average volume of 37,024. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.83 and a quick ratio of 0.83. The company has a 50-day moving average of $64.42 and a 200-day moving average of $59.65. Burke & Herbert Financial Services has a 12 month low of $46.00 and a 12 month high of $75.32.

Burke & Herbert Financial Services Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 15th were paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 3.16%. The ex-dividend date was Friday, November 15th. This is a boost from Burke & Herbert Financial Services’s previous quarterly dividend of $0.53.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods decreased their price objective on shares of Burke & Herbert Financial Services from $73.00 to $72.00 and set a “market perform” rating for the company in a report on Tuesday, October 29th. DA Davidson started coverage on Burke & Herbert Financial Services in a report on Wednesday, October 16th. They issued a “buy” rating and a $76.00 price objective for the company.

Insider Activity at Burke & Herbert Financial Services

In other Burke & Herbert Financial Services news, Director Gary L. Hinkle bought 1,548 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was acquired at an average price of $68.50 per share, with a total value of $106,038.00. Following the transaction, the director now owns 238,355 shares in the company, valued at $16,327,317.50. This represents a 0.65 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 9.65% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Burke & Herbert Financial Services

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Fourthstone LLC lifted its position in Burke & Herbert Financial Services by 29.3% during the third quarter. Fourthstone LLC now owns 397,598 shares of the company’s stock valued at $24,250,000 after purchasing an additional 90,151 shares in the last quarter. Dimensional Fund Advisors LP bought a new position in shares of Burke & Herbert Financial Services in the second quarter worth about $18,137,000. Vanguard Group Inc. grew its stake in shares of Burke & Herbert Financial Services by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 341,705 shares of the company’s stock valued at $19,146,000 after acquiring an additional 4,574 shares during the period. Burke & Herbert Bank & Trust Co. increased its holdings in Burke & Herbert Financial Services by 50.6% in the 2nd quarter. Burke & Herbert Bank & Trust Co. now owns 308,251 shares of the company’s stock worth $15,715,000 after acquiring an additional 103,527 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Burke & Herbert Financial Services by 5.2% during the 3rd quarter. Geode Capital Management LLC now owns 306,243 shares of the company’s stock worth $18,681,000 after acquiring an additional 15,092 shares during the period.

Burke & Herbert Financial Services Company Profile

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.