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

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

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:BHRB) 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.