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

Burke & Herbert Financial Services Corp. (NASDAQ:BHRBGet 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.

Get Our Latest Report on BHRB

Insider Buying and Selling

In related news, Director Shawn Patrick Mclaughlin bought 1,000 shares of the company’s stock in a transaction on Wednesday, January 29th. The shares were purchased at an average price of $63.00 per share, for a total transaction of $63,000.00. Following the completion of the transaction, the director now directly owns 62,000 shares in the company, valued at approximately $3,906,000. The trade was a 1.64 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Julian Forrest Jr. Barnwell purchased 1,140 shares of the firm’s stock in a transaction dated Thursday, March 13th. The stock was purchased at an average cost of $58.38 per share, for a total transaction of $66,553.20. Following the acquisition, the director now owns 91,361 shares of the company’s stock, valued at approximately $5,333,655.18. This trade represents a 1.26 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 19,140 shares of company stock valued at $1,195,743. 9.65% of the stock is owned by company insiders.

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:BHRBGet 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

(Get Free Report)

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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