Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Sees Large Growth in Short Interest

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) was the target of a significant growth in short interest in June. As of June 15th, there was short interest totalling 82,600 shares, a growth of 7.4% from the May 31st total of 76,900 shares. Based on an average trading volume of 27,800 shares, the short-interest ratio is presently 3.0 days. Currently, 0.6% of the shares of the company are short sold.

Burke & Herbert Financial Services Stock Performance

Burke & Herbert Financial Services stock traded down $0.58 during trading hours on Wednesday, reaching $48.34. 15,648 shares of the stock were exchanged, compared to its average volume of 22,552. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 1.13. Burke & Herbert Financial Services has a twelve month low of $42.91 and a twelve month high of $67.53. The stock has a 50 day moving average of $49.89 and a two-hundred day moving average of $54.34.

Burke & Herbert Financial Services (NASDAQ:BHRB) last announced its quarterly earnings data on Friday, May 10th. The company reported $0.69 earnings per share (EPS) for the quarter. The firm had revenue of $26.39 million for the quarter. Burke & Herbert Financial Services had a net margin of 12.04% and a return on equity of 6.82%.

Burke & Herbert Financial Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Wednesday, May 15th were issued a $0.53 dividend. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 4.39%.

Insider Activity at Burke & Herbert Financial Services

In other Burke & Herbert Financial Services news, Director Jose David Riojas purchased 1,397 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were acquired at an average cost of $47.49 per share, for a total transaction of $66,343.53. Following the completion of the purchase, the director now owns 16,000 shares of the company’s stock, valued at approximately $759,840. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Burke & Herbert Financial Services news, Director Jose David Riojas purchased 1,397 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were acquired at an average cost of $47.49 per share, for a total transaction of $66,343.53. Following the completion of the purchase, the director now owns 16,000 shares of the company’s stock, valued at approximately $759,840. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Gary L. Hinkle purchased 1,608 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The stock was acquired at an average price of $49.60 per share, for a total transaction of $79,756.80. Following the completion of the purchase, the director now directly owns 215,458 shares of the company’s stock, valued at approximately $10,686,716.80. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 8,730 shares of company stock worth $431,321. Corporate insiders own 9.65% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC lifted its holdings in shares of Burke & Herbert Financial Services by 52.3% in the fourth quarter. SG Americas Securities LLC now owns 3,955 shares of the company’s stock worth $249,000 after acquiring an additional 1,359 shares during the last quarter. Vanguard Group Inc. raised its holdings in Burke & Herbert Financial Services by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 341,705 shares of the company’s stock worth $19,146,000 after purchasing an additional 4,574 shares during the last quarter. Finally, Quadrature Capital Ltd bought a new position in Burke & Herbert Financial Services during the 1st quarter worth approximately $392,000.

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.