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

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) was the recipient of a significant decline in short interest during the month of August. As of August 31st, there was short interest totalling 127,900 shares, a decline of 14.2% from the August 15th total of 149,100 shares. Currently, 1.0% of the shares of the company are short sold. Based on an average daily volume of 50,400 shares, the short-interest ratio is currently 2.5 days.

Burke & Herbert Financial Services Stock Performance

NASDAQ BHRB traded up $0.87 on Tuesday, reaching $66.06. The stock had a trading volume of 3,280 shares, compared to its average volume of 31,175. 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 $980.86 million and a P/E ratio of 8.00. The firm has a fifty day moving average of $62.17 and a two-hundred day moving average of $55.28. Burke & Herbert Financial Services has a 1-year low of $42.91 and a 1-year high of $70.00.

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

Burke & Herbert Financial Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th were given a dividend of $0.53 per share. The ex-dividend date was Thursday, August 15th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.21%. Burke & Herbert Financial Services’s payout ratio is 26.01%.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods raised their price objective on shares of Burke & Herbert Financial Services from $66.00 to $73.00 and gave the stock a “market perform” rating in a research report on Monday, July 29th.

Insider Buying and Selling at Burke & Herbert Financial Services

In related news, Director Gary L. Hinkle bought 5,000 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was bought at an average price of $68.09 per share, for a total transaction of $340,450.00. Following the purchase, the director now owns 233,155 shares in the company, valued at approximately $15,875,523.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 9.65% of the company’s stock.

Institutional Trading of Burke & Herbert Financial Services

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in Burke & Herbert Financial Services by 1.4% during 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 during the period. Quadrature Capital Ltd bought a new stake in shares of Burke & Herbert Financial Services during the 1st quarter worth approximately $392,000. Folger Nolan Fleming Douglas Capital Management Inc. acquired a new stake in shares of Burke & Herbert Financial Services during the 2nd quarter worth approximately $280,000. Fortitude Family Office LLC increased its stake in Burke & Herbert Financial Services by 1,666.0% in the second quarter. Fortitude Family Office LLC now owns 936 shares of the company’s stock valued at $48,000 after acquiring an additional 883 shares during the last quarter. Finally, Burke & Herbert Bank & Trust Co. raised its position in Burke & Herbert Financial Services by 50.6% during the second quarter. Burke & Herbert Bank & Trust Co. now owns 308,251 shares of the company’s stock valued at $15,715,000 after purchasing an additional 103,527 shares in the last quarter.

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.