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 15th, there was short interest totalling 114,300 shares, a drop of 8.3% from the October 31st total of 124,700 shares. Currently, 0.9% of the shares of the stock are sold short. Based on an average trading volume of 58,500 shares, the short-interest ratio is presently 2.0 days.

Burke & Herbert Financial Services Stock Performance

Burke & Herbert Financial Services stock traded down $0.16 on Wednesday, reaching $69.18. The company’s stock had a trading volume of 41,860 shares, compared to its average volume of 37,134. Burke & Herbert Financial Services has a twelve month low of $46.00 and a twelve month 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 business’s fifty day moving average price is $64.55 and its 200 day moving average price is $59.78.

Burke & Herbert Financial Services Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 15th were issued a dividend of $0.55 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.20 dividend on an annualized basis and a yield of 3.18%. This is a positive change from Burke & Herbert Financial Services’s previous quarterly dividend of $0.53.

Insider Transactions at Burke & Herbert Financial Services

In related news, Director Gary L. Hinkle purchased 1,548 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were acquired at an average price of $68.50 per share, with a total value of $106,038.00. Following the purchase, the director now directly owns 238,355 shares in the company, valued at $16,327,317.50. This represents a 0.65 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 9.65% of the stock is owned by insiders.

Institutional Trading of Burke & Herbert Financial Services

Hedge funds have recently modified their holdings of the stock. Fourthstone LLC lifted its stake in shares of Burke & Herbert Financial Services by 29.3% during the third quarter. Fourthstone LLC now owns 397,598 shares of the company’s stock valued at $24,250,000 after acquiring an additional 90,151 shares during the period. Dimensional Fund Advisors LP acquired a new position in Burke & Herbert Financial Services during the 2nd quarter valued at about $18,137,000. Vanguard Group Inc. lifted its position in Burke & Herbert Financial Services by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 341,705 shares of the company’s stock valued at $19,146,000 after purchasing an additional 4,574 shares during the period. Burke & Herbert Bank & Trust Co. boosted its stake in shares of Burke & Herbert Financial Services by 50.6% in the 2nd 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 during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Burke & Herbert Financial Services by 5.2% during the 3rd quarter. Geode Capital Management LLC now owns 306,243 shares of the company’s stock worth $18,681,000 after buying an additional 15,092 shares during the period.

Analyst Ratings Changes

Several equities research analysts have recently commented on BHRB shares. Keefe, Bruyette & Woods boosted their target price on shares of Burke & Herbert Financial Services from $72.00 to $79.00 and gave the company a “market perform” rating in a research note on Wednesday. DA Davidson initiated 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 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.