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

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) was the recipient of a significant growth in short interest during the month of June. As of June 15th, there was short interest totalling 82,600 shares, a growth of 7.4% from the May 31st total of 76,900 shares. Currently, 0.6% of the company’s shares are short sold. Based on an average daily volume of 27,800 shares, the days-to-cover ratio is currently 3.0 days.

Insider Buying and Selling at Burke & Herbert Financial Services

In related news, Director Gary L. Hinkle acquired 600 shares of the stock in a transaction on Wednesday, May 15th. The stock was purchased at an average price of $50.23 per share, for a total transaction of $30,138.00. Following the completion of the transaction, the director now owns 219,450 shares of the company’s stock, valued at approximately $11,022,973.50. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Burke & Herbert Financial Services news, Director Gary L. Hinkle bought 600 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The stock was bought at an average price of $50.23 per share, for a total transaction of $30,138.00. Following the completion of the acquisition, the director now directly owns 219,450 shares in the company, valued at $11,022,973.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gary L. Hinkle bought 613 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were acquired at an average price of $49.65 per share, with a total value of $30,435.45. Following the acquisition, the director now owns 216,071 shares of the company’s stock, valued at $10,727,925.15. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 8,730 shares of company stock worth $431,321. 9.65% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Burke & Herbert Financial Services

A number of institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC raised its holdings in Burke & Herbert Financial Services by 52.3% in the fourth quarter. SG Americas Securities LLC now owns 3,955 shares of the company’s stock worth $249,000 after purchasing an additional 1,359 shares in the last quarter. Vanguard Group Inc. raised its holdings in Burke & Herbert Financial Services by 1.4% in the first quarter. Vanguard Group Inc. now owns 341,705 shares of the company’s stock worth $19,146,000 after purchasing an additional 4,574 shares in the last quarter. Finally, Quadrature Capital Ltd bought a new position in Burke & Herbert Financial Services in the first quarter worth $392,000.

Burke & Herbert Financial Services Stock Down 1.2 %

Shares of Burke & Herbert Financial Services stock traded down $0.58 during midday trading on Wednesday, reaching $48.34. 15,648 shares of the company’s stock traded hands, compared to its average volume of 22,552. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.72 and a quick ratio of 0.72. The stock has a 50 day moving average of $49.89 and a 200-day moving average of $54.34. Burke & Herbert Financial Services has a 12 month low of $42.91 and a 12 month high of $67.53.

Burke & Herbert Financial Services (NASDAQ:BHRB) last posted its quarterly earnings data on Friday, May 10th. The company reported $0.69 earnings per share (EPS) for the quarter. The business had revenue of $26.39 million during the quarter. Burke & Herbert Financial Services had a return on equity of 6.82% and a net margin of 12.04%.

Burke & Herbert Financial Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Wednesday, May 15th were issued a $0.53 dividend. The ex-dividend date was Tuesday, May 14th. This represents a $2.12 dividend on an annualized basis and a yield of 4.39%.

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.