Short Interest in Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Decreases By 13.8%

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB - Get Free Report) was the recipient of a significant drop in short interest during the month of December. As of December 15th, there was short interest totalling 80,900 shares, a drop of 13.8% from the November 30th total of 93,900 shares. Currently, 0.6% of the company's shares are sold short. Based on an average daily trading volume, of 46,400 shares, the short-interest ratio is presently 1.7 days.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Keefe, Bruyette & Woods raised their price target on Burke & Herbert Financial Services from $72.00 to $79.00 and gave the stock a "market perform" rating in a research report on Wednesday, December 4th. DA Davidson initiated coverage on Burke & Herbert Financial Services in a research note on Wednesday, October 16th. They set a "buy" rating and a $76.00 target price for the company.

Insiders Place Their Bets

In other news, Director Gary L. Hinkle bought 1,548 shares of the business's stock in a transaction on Monday, November 18th. The shares were bought at an average cost of $68.50 per share, for a total transaction of $106,038.00. Following the completion of the acquisition, the director now owns 238,355 shares in the company, valued at approximately $16,327,317.50. This trade represents a 0.65 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Julian Forrest Jr. Barnwell purchased 3,000 shares of Burke & Herbert Financial Services stock in a transaction dated Friday, December 13th. The shares were purchased at an average cost of $68.75 per share, for a total transaction of $206,250.00. Following the completion of the transaction, the director now owns 182,939 shares of the company's stock, valued at approximately $12,577,056.25. This represents a 1.67 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 8,950 shares of company stock worth $614,711. Insiders own 9.65% of the company's stock.

Hedge Funds Weigh In On Burke & Herbert Financial Services

Large investors have recently bought and sold shares of the company. American Century Companies Inc. bought a new stake in shares of Burke & Herbert Financial Services in the second quarter worth $3,091,000. Rhumbline Advisers lifted its position in Burke & Herbert Financial Services by 126.9% during the 2nd quarter. Rhumbline Advisers now owns 18,973 shares of the company's stock worth $967,000 after buying an additional 10,613 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Burke & Herbert Financial Services by 96.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 81,204 shares of the company's stock worth $4,140,000 after buying an additional 39,769 shares during the last quarter. Dimensional Fund Advisors LP bought a new position in shares of Burke & Herbert Financial Services in the 2nd quarter valued at about $18,137,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Burke & Herbert Financial Services in the third quarter valued at about $1,005,000.

Burke & Herbert Financial Services Stock Down 2.2 %

BHRB traded down $1.43 during trading on Friday, hitting $62.44. The company had a trading volume of 26,617 shares, compared to its average volume of 37,095. The firm's 50-day moving average price is $67.13 and its 200 day moving average price is $62.09. The company has a market capitalization of $934.60 million and a PE ratio of 8.12. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.15. Burke & Herbert Financial Services has a one year low of $46.00 and a one year high of $75.32.

Burke & Herbert Financial Services Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 15th were paid a $0.55 dividend. This is a boost from Burke & Herbert Financial Services's previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.20 annualized dividend and a yield of 3.52%. Burke & Herbert Financial Services's payout ratio is presently 28.61%.

Burke & Herbert Financial Services Company Profile

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.