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

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB - Get Free Report) was the recipient of a large increase in short interest during the month of February. As of February 15th, there was short interest totalling 107,700 shares, an increase of 30.2% from the January 31st total of 82,700 shares. Based on an average daily volume of 39,500 shares, the days-to-cover ratio is presently 2.7 days. Currently, 0.8% of the company's stock are short sold.

Burke & Herbert Financial Services Stock Performance

NASDAQ:BHRB traded up $0.15 during trading hours on Friday, reaching $60.29. The company had a trading volume of 76,270 shares, compared to its average volume of 59,943. The firm has a market cap of $902.42 million and a price-to-earnings ratio of 25.12. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.15. The firm's 50 day moving average price is $62.24 and its 200-day moving average price is $64.15. Burke & Herbert Financial Services has a 52 week low of $46.00 and a 52 week high of $75.32.

Burke & Herbert Financial Services (NASDAQ:BHRB - Get Free Report) last issued its quarterly earnings data on Friday, January 24th. The company reported $1.77 EPS for the quarter, hitting the consensus estimate of $1.77. Burke & Herbert Financial Services had a return on equity of 15.15% and a net margin of 8.88%. On average, analysts forecast that Burke & Herbert Financial Services will post 8.05 EPS for the current year.

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Burke & Herbert Financial Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were paid a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 3.65%. The ex-dividend date of this dividend was Friday, February 14th. Burke & Herbert Financial Services's dividend payout ratio (DPR) is presently 91.67%.

Insider Transactions at Burke & Herbert Financial Services

In other news, Director Julian Forrest Jr. Barnwell acquired 2,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The stock was bought at an average cost of $60.50 per share, for a total transaction of $121,000.00. Following the acquisition, the director now directly owns 203,939 shares in the company, valued at approximately $12,338,309.50. The trade was a 0.99 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Gary L. Hinkle acquired 1,000 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was acquired at an average cost of $64.48 per share, for a total transaction of $64,480.00. Following the completion of the transaction, the director now directly owns 244,355 shares in the company, valued at $15,756,010.40. This represents a 0.41 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 19,555 shares of company stock valued at $1,255,379 in the last quarter. 9.65% of the stock is owned by insiders.

Institutional Trading of Burke & Herbert Financial Services

Large investors have recently added to or reduced their stakes in the business. Sterling Capital Management LLC increased its position 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 in the last quarter. Tower Research Capital LLC TRC increased its holdings in Burke & Herbert Financial Services by 227.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,347 shares of the company's stock worth $84,000 after acquiring an additional 936 shares in the last quarter. Quantbot Technologies LP bought a new stake in Burke & Herbert Financial Services during the 3rd quarter worth approximately $118,000. KLP Kapitalforvaltning AS purchased a new position in Burke & Herbert Financial Services during the fourth quarter valued at approximately $156,000. Finally, Squarepoint Ops LLC bought a new position in shares of Burke & Herbert Financial Services in the fourth quarter worth approximately $218,000.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods raised Burke & Herbert Financial Services from a "market perform" rating to an "outperform" rating and decreased their target price for the stock from $79.00 to $76.00 in a research report on Monday, January 27th.

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.