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

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) saw a significant increase in short interest in October. As of October 15th, there was short interest totalling 136,800 shares, an increase of 10.1% from the September 30th total of 124,300 shares. Based on an average daily volume of 57,400 shares, the short-interest ratio is presently 2.4 days. Currently, 1.0% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

BHRB has been the topic of a number of recent research reports. DA Davidson initiated coverage on Burke & Herbert Financial Services in a research report on Wednesday, October 16th. They issued a “buy” rating and a $76.00 target price on the stock. Keefe, Bruyette & Woods lowered their target price on Burke & Herbert Financial Services from $73.00 to $72.00 and set a “market perform” rating on the stock in a research report on Tuesday.

Insider Activity

In related news, Director Gary L. Hinkle bought 5,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were acquired at an average price of $68.09 per share, with a total value of $340,450.00. Following the completion of the transaction, the director now owns 233,155 shares in the company, valued at $15,875,523.95. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 9.65% of the company’s stock.

Hedge Funds Weigh In On Burke & Herbert Financial Services

Institutional investors have recently bought and sold shares of the business. Burke & Herbert Bank & Trust Co. increased 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 worth $15,715,000 after buying an additional 103,527 shares during the last quarter. American Century Companies Inc. bought a new stake in shares of Burke & Herbert Financial Services during the second quarter worth approximately $3,091,000. Rhumbline Advisers boosted its holdings in shares of Burke & Herbert Financial Services by 126.9% during the second quarter. Rhumbline Advisers now owns 18,973 shares of the company’s stock worth $967,000 after acquiring an additional 10,613 shares during the period. Fifth Third Bancorp bought a new stake in shares of Burke & Herbert Financial Services during the second quarter worth approximately $1,167,000. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Burke & Herbert Financial Services by 96.0% during the second quarter. Bank of New York Mellon Corp now owns 81,204 shares of the company’s stock worth $4,140,000 after acquiring an additional 39,769 shares during the period.

Burke & Herbert Financial Services Price Performance

NASDAQ:BHRB opened at $64.04 on Wednesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.83 and a current ratio of 0.83. The stock’s 50-day simple moving average is $62.94 and its 200 day simple moving average is $56.95. The company has a market cap of $957.08 million and a P/E ratio of 7.61. Burke & Herbert Financial Services has a 52-week low of $43.80 and a 52-week high of $70.00.

Burke & Herbert Financial Services Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date of this dividend is Friday, November 15th. This is an increase from Burke & Herbert Financial Services’s previous quarterly dividend of $0.53. Burke & Herbert Financial Services’s payout ratio is 26.16%.

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.