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

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) saw a large drop in short interest in the month of November. As of November 30th, there was short interest totalling 93,900 shares, a drop of 17.8% from the November 15th total of 114,300 shares. Currently, 0.7% of the shares of the company are short sold. Based on an average trading volume of 53,800 shares, the short-interest ratio is currently 1.7 days.

Insider Activity

In other news, Director Gary L. Hinkle acquired 1,548 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was bought at an average price of $68.50 per share, with a total value of $106,038.00. Following the transaction, the director now directly owns 238,355 shares in the company, valued at approximately $16,327,317.50. The trade was a 0.65 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Julian Forrest Jr. Barnwell acquired 3,000 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was purchased at an average cost of $68.75 per share, with a total value of $206,250.00. Following the transaction, the director now owns 182,939 shares in the company, valued at approximately $12,577,056.25. This trade represents a 1.67 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 8,950 shares of company stock valued at $614,711 in the last quarter. Company insiders own 9.65% of the company’s stock.

Institutional Trading of Burke & Herbert Financial Services

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Virtu Financial LLC acquired a new position in shares of Burke & Herbert Financial Services in the 3rd quarter valued at approximately $526,000. Barclays PLC raised its position in shares of Burke & Herbert Financial Services by 204.0% in the 3rd quarter. Barclays PLC now owns 22,225 shares of the company’s stock valued at $1,357,000 after buying an additional 14,915 shares in the last quarter. Mittelman Wealth Management acquired a new position in shares of Burke & Herbert Financial Services in the 3rd quarter valued at approximately $659,000. Geode Capital Management LLC raised its position in shares of Burke & Herbert Financial Services by 5.2% in the 3rd quarter. Geode Capital Management LLC now owns 306,243 shares of the company’s stock valued at $18,681,000 after buying an additional 15,092 shares in the last quarter. Finally, Jane Street Group LLC raised its position in shares of Burke & Herbert Financial Services by 6.9% in the 3rd quarter. Jane Street Group LLC now owns 18,772 shares of the company’s stock valued at $1,145,000 after buying an additional 1,218 shares in the last quarter.

Burke & Herbert Financial Services Stock Performance

Burke & Herbert Financial Services stock traded down $0.14 during midday trading on Monday, hitting $69.02. The company’s stock had a trading volume of 3,308 shares, compared to its average volume of 37,019. Burke & Herbert Financial Services has a 1-year low of $46.00 and a 1-year high of $75.32. 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 price of $66.19 and a two-hundred day moving average price of $60.92. The company has a market cap of $1.03 billion and a price-to-earnings ratio of 8.99.

Burke & Herbert Financial Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 15th were paid a $0.55 dividend. This is a boost from Burke & Herbert Financial Services’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.20 annualized dividend and a yield of 3.19%. Burke & Herbert Financial Services’s payout ratio is 28.61%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on BHRB shares. Keefe, Bruyette & Woods raised their target price on shares of Burke & Herbert Financial Services from $72.00 to $79.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. DA Davidson started coverage on shares of Burke & Herbert Financial Services in a research note on Wednesday, October 16th. They set a “buy” rating and a $76.00 target price for the company.

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.