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

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) was the target of a significant drop in short interest during the month of September. As of September 30th, there was short interest totalling 124,300 shares, a drop of 7.1% from the September 15th total of 133,800 shares. Based on an average daily volume of 59,300 shares, the days-to-cover ratio is presently 2.1 days. Currently, 0.9% of the shares of the stock are sold short.

Burke & Herbert Financial Services Trading Down 0.3 %

BHRB traded down $0.21 on Thursday, reaching $63.86. 5,397 shares of the company traded hands, compared to its average volume of 34,653. Burke & Herbert Financial Services has a one year low of $42.91 and a one year high of $70.00. The firm has a fifty day simple moving average of $62.63 and a two-hundred day simple moving average of $56.32. The company has a market cap of $948.19 million and a P/E ratio of 7.62. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.16.

Burke & Herbert Financial Services (NASDAQ:BHRB) last posted its earnings results on Friday, July 26th. The company reported $2.04 EPS for the quarter. The business had revenue of $69.27 million for 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 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date of this dividend was Thursday, August 15th. Burke & Herbert Financial Services’s dividend payout ratio (DPR) is 25.21%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on BHRB shares. Keefe, Bruyette & Woods raised 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 report on Monday, July 29th. DA Davidson started coverage on shares of Burke & Herbert Financial Services in a report on Wednesday. They issued a “buy” rating and a $76.00 target price for the company.

Insider Buying and Selling at Burke & Herbert Financial Services

In other Burke & Herbert Financial Services news, Director Gary L. Hinkle acquired 5,000 shares of the stock in a transaction on Friday, August 23rd. The stock was acquired at an average price of $68.09 per share, for a total transaction of $340,450.00. Following the completion of the transaction, the director now directly owns 233,155 shares of the company’s stock, valued at $15,875,523.95. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 9.65% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in BHRB. Vanguard Group Inc. increased 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. Quadrature Capital Ltd purchased a new position in shares of Burke & Herbert Financial Services in the 1st quarter worth approximately $392,000. Folger Nolan Fleming Douglas Capital Management Inc. purchased a new position in shares of Burke & Herbert Financial Services in the 2nd quarter worth approximately $280,000. Fortitude Family Office LLC grew its position in shares of Burke & Herbert Financial Services by 1,666.0% in the 2nd quarter. Fortitude Family Office LLC now owns 936 shares of the company’s stock worth $48,000 after buying an additional 883 shares during the last quarter. Finally, Burke & Herbert Bank & Trust Co. grew its position 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 worth $15,715,000 after buying an additional 103,527 shares during 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.