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

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

Burke & Herbert Financial Services Price Performance

Shares of Burke & Herbert Financial Services stock traded up $0.54 on Friday, hitting $58.74. The company’s stock had a trading volume of 36,992 shares, compared to its average volume of 59,759. The firm has a fifty day moving average price of $61.90 and a 200-day moving average price of $63.92. The company has a market capitalization of $879.22 million and a P/E ratio of 24.48. Burke & Herbert Financial Services has a 52-week low of $46.00 and a 52-week high of $75.32. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.15.

Burke & Herbert Financial Services (NASDAQ:BHRB) last issued its quarterly earnings results on Friday, January 24th. The company reported $1.77 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.77. Burke & Herbert Financial Services had a return on equity of 15.15% and a net margin of 8.88%. On average, equities research analysts expect that Burke & Herbert Financial Services will post 8.05 earnings per share for the current fiscal year.

Burke & Herbert Financial Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were given 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 dividend payout ratio (DPR) is 91.67%.

Insider Buying and Selling

In related news, Director Julian Forrest Jr. Barnwell purchased 5,000 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The shares were purchased at an average price of $63.75 per share, with a total value of $318,750.00. Following the purchase, the director now owns 187,939 shares of the company’s stock, valued at $11,981,111.25. The trade was a 2.73 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gary L. Hinkle bought 1,000 shares of Burke & Herbert Financial Services stock in a transaction on Friday, January 31st. The shares were purchased at an average cost of $64.48 per share, with a total value of $64,480.00. Following the acquisition, the director now directly owns 244,355 shares of the company’s stock, valued at approximately $15,756,010.40. The trade was a 0.41 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 19,140 shares of company stock worth $1,195,743 in 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 hedge funds have recently bought and sold shares of the business. Sterling Capital Management LLC grew its position in shares of Burke & Herbert Financial Services by 841.3% during the 4th quarter. Sterling Capital Management LLC now owns 433 shares of the company’s stock valued at $27,000 after buying an additional 387 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Burke & Herbert Financial Services by 227.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,347 shares of the company’s stock valued at $84,000 after buying an additional 936 shares during the period. Quantbot Technologies LP acquired a new position in shares of Burke & Herbert Financial Services in the 3rd quarter worth approximately $118,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Burke & Herbert Financial Services during the 4th quarter valued at $156,000. Finally, Squarepoint Ops LLC purchased a new position in Burke & Herbert Financial Services in the 4th quarter worth about $218,000.

Analysts Set New Price Targets

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

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.