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

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) was the target of a large decrease in short interest during the month of November. As of November 30th, there was short interest totalling 93,900 shares, a decrease of 17.8% from the November 15th total of 114,300 shares. Based on an average trading volume of 53,800 shares, the short-interest ratio is currently 1.7 days. Currently, 0.7% of the shares of the company are sold short.

Insider Activity

In other Burke & Herbert Financial Services news, Director Shawn Patrick Mclaughlin purchased 555 shares of the stock in a transaction on Monday, December 9th. The shares were bought at an average price of $69.35 per share, for a total transaction of $38,489.25. Following the completion of the transaction, the director now owns 61,000 shares of the company’s stock, valued at $4,230,350. This trade represents a 0.92 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Gary L. Hinkle bought 3,652 shares of Burke & Herbert Financial Services stock in a transaction dated Friday, November 15th. The shares were acquired at an average cost of $68.56 per share, with a total value of $250,381.12. Following the completion of the purchase, the director now owns 236,807 shares in the company, valued at approximately $16,235,487.92. This trade represents a 1.57 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 8,950 shares of company stock valued at $614,711 in the last ninety days. Insiders own 9.65% of the company’s stock.

Hedge Funds Weigh In On Burke & Herbert Financial Services

Large investors have recently made changes to their positions in the stock. HHM Wealth Advisors LLC acquired a new position in Burke & Herbert Financial Services in the 2nd quarter valued at about $29,000. LSV Asset Management acquired a new position in shares of Burke & Herbert Financial Services in the second quarter valued at approximately $108,000. Quantbot Technologies LP purchased a new stake in Burke & Herbert Financial Services during the 3rd quarter worth approximately $118,000. Truist Financial Corp acquired a new stake in Burke & Herbert Financial Services during the 2nd quarter worth approximately $202,000. Finally, TIAA Trust National Association acquired a new stake in Burke & Herbert Financial Services during the 2nd quarter worth approximately $213,000.

Burke & Herbert Financial Services Trading Down 0.5 %

Shares of NASDAQ:BHRB traded down $0.37 during midday trading on Friday, reaching $69.16. 38,162 shares of the company’s stock were exchanged, compared to its average volume of 37,160. The stock has a market cap of $1.04 billion and a price-to-earnings ratio of 8.99. Burke & Herbert Financial Services has a fifty-two week low of $46.00 and a fifty-two week high of $75.32. The firm’s 50 day simple moving average is $65.98 and its two-hundred day simple moving average is $60.66. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.83 and a quick ratio of 0.83.

Burke & Herbert Financial Services Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 15th were given a dividend of $0.55 per share. The ex-dividend date was Friday, November 15th. This is a boost from Burke & Herbert Financial Services’s previous quarterly dividend of $0.53. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.18%. Burke & Herbert Financial Services’s dividend payout ratio (DPR) is currently 28.61%.

Analysts Set New Price Targets

BHRB has been the topic of several recent analyst reports. Keefe, Bruyette & Woods increased their price objective on shares of Burke & Herbert Financial Services from $72.00 to $79.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. DA Davidson began coverage on Burke & Herbert Financial Services in a research note on Wednesday, October 16th. They issued a “buy” rating and a $76.00 price objective for the company.

About Burke & Herbert Financial Services

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.