Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Sees Significant Decrease in Short Interest

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) saw a large decline in short interest in September. As of September 30th, there was short interest totalling 124,300 shares, a decline of 7.1% from the September 15th total of 133,800 shares. Approximately 0.9% of the company’s shares are sold short. Based on an average trading volume of 59,300 shares, the days-to-cover ratio is presently 2.1 days.

Burke & Herbert Financial Services Stock Up 4.9 %

Shares of NASDAQ BHRB traded up $2.97 during midday trading on Wednesday, hitting $64.07. 43,136 shares of the company’s stock were exchanged, compared to its average volume of 34,799. The firm’s fifty day simple moving average is $62.53 and its 200-day simple moving average is $56.26. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.83 and a quick ratio of 0.83. The company has a market cap of $951.31 million and a PE ratio of 7.53. Burke & Herbert Financial Services has a twelve month low of $42.91 and a twelve month high of $70.00.

Burke & Herbert Financial Services (NASDAQ:BHRB) last issued its quarterly earnings data on Friday, July 26th. The company reported $2.04 earnings per share for the quarter. Burke & Herbert Financial Services had a positive return on equity of 9.96% and a negative net margin of 1.10%. The company had revenue of $69.27 million during the quarter.

Burke & Herbert Financial Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th were issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 3.31%. The ex-dividend date was Thursday, August 15th. Burke & Herbert Financial Services’s dividend payout ratio is presently 25.21%.

Insider Buying and Selling at Burke & Herbert Financial Services

In other Burke & Herbert Financial Services news, Director Gary L. Hinkle bought 5,000 shares of Burke & Herbert Financial Services stock in a transaction on Friday, August 23rd. The shares were bought at an average cost of $68.09 per share, for a total transaction of $340,450.00. Following the acquisition, the director now directly owns 233,155 shares in the company, valued at $15,875,523.95. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 9.65% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Burke & Herbert Financial Services

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC increased its position in Burke & Herbert Financial Services by 113.7% during the 3rd quarter. SG Americas Securities LLC now owns 5,067 shares of the company’s stock worth $309,000 after purchasing an additional 2,696 shares during the period. Truist Financial Corp purchased a new position in Burke & Herbert Financial Services in the second quarter worth $202,000. The Manufacturers Life Insurance Company acquired a new stake in Burke & Herbert Financial Services in the second quarter valued at $259,000. Marshall Wace LLP purchased a new stake in shares of Burke & Herbert Financial Services during the 2nd quarter worth $427,000. Finally, Moors & Cabot Inc. grew its stake in shares of Burke & Herbert Financial Services by 6.9% during the 2nd quarter. Moors & Cabot Inc. now owns 28,872 shares of the company’s stock worth $1,472,000 after purchasing an additional 1,851 shares during the period.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on BHRB. Keefe, Bruyette & Woods upped their target price on shares of Burke & Herbert Financial Services from $66.00 to $73.00 and gave the stock a “market perform” rating in a research note on Monday, July 29th. DA Davidson assumed coverage on shares of Burke & Herbert Financial Services in a report on Wednesday. They issued a “buy” rating and a $76.00 price objective on the stock.

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.