Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Short Interest Update

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) was the recipient of a significant drop in short interest during the month of February. As of February 28th, there was short interest totalling 72,800 shares, a drop of 32.4% from the February 13th total of 107,700 shares. Based on an average daily volume of 52,700 shares, the short-interest ratio is currently 1.4 days. Approximately 0.6% of the company’s stock are sold short.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods raised shares of Burke & Herbert Financial Services from a “market perform” rating to an “outperform” rating and cut their target price for the stock from $79.00 to $76.00 in a research report on Monday, January 27th.

Burke & Herbert Financial Services Stock Performance

Shares of Burke & Herbert Financial Services stock traded up $0.54 on Friday, hitting $58.74. 36,992 shares of the company’s stock were exchanged, compared to its average volume of 59,759. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.83 and a current ratio of 0.83. Burke & Herbert Financial Services has a 1 year low of $46.00 and a 1 year high of $75.32. The company has a 50-day simple moving average of $61.90 and a 200-day simple moving average of $63.94. The stock has a market capitalization of $879.22 million and a PE ratio of 24.48.

Burke & Herbert Financial Services (NASDAQ:BHRB) last announced its quarterly earnings results on Friday, January 24th. The company reported $1.77 EPS for the quarter, hitting the consensus estimate of $1.77. Burke & Herbert Financial Services had a net margin of 8.88% and a return on equity of 15.15%. As a group, equities analysts anticipate that Burke & Herbert Financial Services will post 8.05 EPS for the current year.

Burke & Herbert Financial Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were paid a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 3.75%. The ex-dividend date of this dividend was Friday, February 14th. Burke & Herbert Financial Services’s payout ratio is currently 91.67%.

Insider Activity

In other news, Director Gary L. Hinkle purchased 3,000 shares of Burke & Herbert Financial Services stock in a transaction that occurred on Monday, February 10th. The stock was bought at an average price of $64.97 per share, with a total value of $194,910.00. Following the completion of the transaction, the director now directly owns 248,459 shares of the company’s stock, valued at approximately $16,142,381.23. The trade was a 1.22 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Julian Forrest Jr. Barnwell purchased 5,000 shares of Burke & Herbert Financial Services stock in a transaction that occurred on Thursday, February 13th. The shares were purchased at an average cost of $63.75 per share, with a total value of $318,750.00. Following the transaction, the director now directly owns 187,939 shares of the company’s stock, valued at $11,981,111.25. This represents a 2.73 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 19,140 shares of company stock worth $1,195,743. Insiders own 9.65% of the company’s stock.

Institutional Trading of Burke & Herbert Financial Services

Several hedge funds have recently bought and sold shares of BHRB. Fourthstone LLC lifted its stake in Burke & Herbert Financial Services by 29.3% in the 3rd quarter. Fourthstone LLC now owns 397,598 shares of the company’s stock worth $24,250,000 after purchasing an additional 90,151 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Burke & Herbert Financial Services by 190.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 108,481 shares of the company’s stock worth $6,616,000 after buying an additional 71,105 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Burke & Herbert Financial Services by 94.4% in the 4th quarter. JPMorgan Chase & Co. now owns 64,526 shares of the company’s stock worth $4,024,000 after buying an additional 31,327 shares during the last quarter. State Street Corp increased its holdings in shares of Burke & Herbert Financial Services by 9.9% in the 3rd quarter. State Street Corp now owns 289,576 shares of the company’s stock worth $17,661,000 after buying an additional 26,191 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Burke & Herbert Financial Services by 3.2% in the 4th quarter. Vanguard Group Inc. now owns 732,163 shares of the company’s stock worth $45,658,000 after buying an additional 22,559 shares during the last quarter.

About Burke & Herbert Financial Services

Burke Herbert Financial Services Corp. is a bank holding company, which engages in the provision of banking products and financial services to small to medium-sized businesses, their owners and employees, professional corporations, non-profits, and individuals. It operates through the following loan portfolio segments: Commercial Real Estate, Owner-Occupied Commercial Real Estate, Acquisition, Construction, and Development, Commercial and Industrial, Single Family Residential (1-4 Units), and Consumer Non-Real Estate and Other.