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

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) was the recipient of a large 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 short-interest ratio is currently 2.1 days. Currently, 0.9% of the company’s shares are short sold.

Insider Activity at Burke & Herbert Financial Services

In other news, Director Gary L. Hinkle purchased 5,000 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were bought at an average cost of $68.09 per share, for a total transaction of $340,450.00. Following the completion of the purchase, the director now directly owns 233,155 shares of the company’s stock, valued at approximately $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 at this link. 9.65% of the stock is owned by insiders.

Institutional Investors Weigh In On Burke & Herbert Financial Services

Institutional investors and hedge funds have recently bought and sold shares of the stock. HHM Wealth Advisors LLC acquired a new stake in shares of Burke & Herbert Financial Services during the second quarter worth about $29,000. Fortitude Family Office LLC increased its position in Burke & Herbert Financial Services by 1,666.0% during the second 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 period. LSV Asset Management purchased a new stake in Burke & Herbert Financial Services in the second quarter valued at approximately $108,000. Truist Financial Corp acquired a new stake in shares of Burke & Herbert Financial Services in the second quarter valued at approximately $202,000. Finally, TIAA Trust National Association purchased a new position in shares of Burke & Herbert Financial Services during the second quarter worth approximately $213,000.

Analysts Set New Price Targets

BHRB has been the subject of a number of research reports. DA Davidson began coverage on shares of Burke & Herbert Financial Services in a report on Wednesday. They issued a “buy” rating and a $76.00 price objective for the company. Keefe, Bruyette & Woods upped 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 research note on Monday, July 29th.

Burke & Herbert Financial Services Stock Up 0.8 %

Shares of NASDAQ BHRB opened at $64.60 on Friday. Burke & Herbert Financial Services has a 1 year low of $42.91 and a 1 year high of $70.00. The company has a market capitalization of $959.18 million and a price-to-earnings ratio of 7.68. 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 business has a 50-day moving average of $62.72 and a two-hundred day moving average of $56.38.

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

Burke & Herbert Financial Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th were paid a dividend of $0.53 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $2.12 annualized dividend and a yield of 3.28%. Burke & Herbert Financial Services’s dividend payout ratio is currently 25.21%.

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.