Burke & Herbert Financial Services Corp. (NASDAQ:BHRB – Get Free Report) saw a large decline in short interest in the month of February. As of February 28th, there was short interest totalling 72,800 shares, a decline of 32.4% from the February 13th total of 107,700 shares. Based on an average daily volume of 52,700 shares, the days-to-cover ratio is currently 1.4 days. Currently, 0.6% of the shares of the company are sold short.
Analyst Ratings Changes
Separately, Keefe, Bruyette & Woods raised Burke & Herbert Financial Services from a “market perform” rating to an “outperform” rating and reduced their target price for the company from $79.00 to $76.00 in a research note on Monday, January 27th.
Insider Buying and Selling
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of BHRB. Sterling Capital Management LLC lifted its holdings in Burke & Herbert Financial Services by 841.3% in the fourth quarter. Sterling Capital Management LLC now owns 433 shares of the company’s stock worth $27,000 after buying an additional 387 shares during the period. Tower Research Capital LLC TRC lifted its holdings in Burke & Herbert Financial Services by 227.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,347 shares of the company’s stock worth $84,000 after buying an additional 936 shares during the period. Quantbot Technologies LP purchased a new stake in Burke & Herbert Financial Services in the third quarter worth about $118,000. KLP Kapitalforvaltning AS purchased a new stake in Burke & Herbert Financial Services in the fourth quarter worth about $156,000. Finally, Squarepoint Ops LLC purchased a new stake in Burke & Herbert Financial Services in the fourth quarter worth about $218,000.
Burke & Herbert Financial Services Trading Up 0.9 %
Shares of NASDAQ:BHRB traded up $0.54 on Friday, reaching $58.74. 36,992 shares of the company traded hands, compared to its average volume of 59,759. The business’s 50-day simple moving average is $61.90 and its 200 day simple moving average is $63.94. Burke & Herbert Financial Services has a 52 week low of $46.00 and a 52 week high of $75.32. The stock has a market capitalization of $879.22 million and a P/E ratio of 24.48. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.15.
Burke & Herbert Financial Services (NASDAQ:BHRB – Get Free Report) last announced its quarterly earnings data on Friday, January 24th. The company reported $1.77 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.77. Burke & Herbert Financial Services had a return on equity of 15.15% and a net margin of 8.88%. As a group, equities analysts anticipate that Burke & Herbert Financial Services will post 8.05 EPS for the current fiscal year.
Burke & Herbert Financial Services Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were paid a dividend of $0.55 per share. The ex-dividend date was Friday, February 14th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.75%. Burke & Herbert Financial Services’s dividend payout ratio (DPR) is currently 91.67%.
Burke & Herbert Financial Services Company Profile
Burke Herbert Financial Services Corp. is a bank holding company, which engages in the provision of banking products and financial services to small to medium-sized businesses, their owners and employees, professional corporations, non-profits, and individuals. It operates through the following loan portfolio segments: Commercial Real Estate, Owner-Occupied Commercial Real Estate, Acquisition, Construction, and Development, Commercial and Industrial, Single Family Residential (1-4 Units), and Consumer Non-Real Estate and Other.
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