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

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

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on BHRB. DA Davidson began coverage on shares of Burke & Herbert Financial Services in a report on Wednesday, October 16th. They issued a “buy” rating and a $76.00 price target on the stock. Keefe, Bruyette & Woods raised their target price on shares of Burke & Herbert Financial Services from $72.00 to $79.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th.

Insider Buying and Selling at Burke & Herbert Financial Services

In related news, Director Shawn Patrick Mclaughlin bought 555 shares of the company’s stock in a transaction on Monday, December 9th. The shares were acquired at an average price of $69.35 per share, with a total value of $38,489.25. Following the transaction, the director now owns 61,000 shares of the company’s stock, valued at $4,230,350. The trade was a 0.92 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Julian Forrest Jr. Barnwell purchased 3,000 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was bought at an average price of $68.75 per share, for a total transaction of $206,250.00. Following the completion of the acquisition, the director now directly owns 182,939 shares in the company, valued at approximately $12,577,056.25. This trade represents a 1.67 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 8,950 shares of company stock valued at $614,711. Company insiders own 9.65% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Fourthstone LLC lifted its stake in shares of Burke & Herbert Financial Services by 29.3% during the third quarter. Fourthstone LLC now owns 397,598 shares of the company’s stock worth $24,250,000 after buying an additional 90,151 shares during the period. Dimensional Fund Advisors LP purchased a new position in Burke & Herbert Financial Services in the 2nd quarter worth $18,137,000. Geode Capital Management LLC lifted its position in Burke & Herbert Financial Services by 5.2% during the 3rd quarter. Geode Capital Management LLC now owns 306,243 shares of the company’s stock worth $18,681,000 after acquiring an additional 15,092 shares during the period. State Street Corp grew its stake in Burke & Herbert Financial Services by 9.9% during the 3rd quarter. State Street Corp now owns 289,576 shares of the company’s stock valued at $17,661,000 after purchasing an additional 26,191 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Burke & Herbert Financial Services by 190.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 108,481 shares of the company’s stock valued at $6,616,000 after purchasing an additional 71,105 shares during the period.

Burke & Herbert Financial Services Stock Down 0.5 %

Burke & Herbert Financial Services stock traded down $0.37 during midday trading on Friday, reaching $69.16. The company’s stock had a trading volume of 38,162 shares, compared to its average volume of 37,160. 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 $1.04 billion and a P/E ratio of 8.99. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.83 and a quick ratio of 0.83. The stock’s 50-day simple moving average is $66.19 and its 200-day simple moving average is $60.85.

Burke & Herbert Financial Services Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 15th were paid a $0.55 dividend. The ex-dividend date of this dividend 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 yield of 3.18%. Burke & Herbert Financial Services’s dividend payout ratio (DPR) is 28.61%.

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.