Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Short Interest Down 32.4% in February

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) was the recipient of a large decrease in short interest in February. As of February 28th, there was short interest totalling 72,800 shares, a decrease of 32.4% from the February 13th total of 107,700 shares. Approximately 0.6% of the shares of the company are short sold. Based on an average trading volume of 52,700 shares, the short-interest ratio is currently 1.4 days.

Burke & Herbert Financial Services Trading Up 0.9 %

NASDAQ:BHRB traded up $0.54 during mid-day trading on Friday, hitting $58.74. 36,992 shares of the company’s stock were exchanged, compared to its average volume of 59,759. The firm has a market capitalization of $879.22 million and a P/E ratio of 24.48. Burke & Herbert Financial Services has a fifty-two week low of $46.00 and a fifty-two week high of $75.32. The company has a 50 day simple moving average of $61.90 and a 200-day simple moving average of $63.92. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.15.

Burke & Herbert Financial Services (NASDAQ:BHRB) last released its earnings results on Friday, January 24th. The company reported $1.77 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.77. Burke & Herbert Financial Services had a net margin of 8.88% and a return on equity of 15.15%. As a group, research analysts expect that Burke & Herbert Financial Services will post 8.05 earnings per share for the current year.

Burke & Herbert Financial Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 3.75%. The ex-dividend date was Friday, February 14th. Burke & Herbert Financial Services’s dividend payout ratio is presently 91.67%.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods upgraded shares of Burke & Herbert Financial Services from a “market perform” rating to an “outperform” rating and lowered their price objective for the stock from $79.00 to $76.00 in a research note on Monday, January 27th.

Insider Buying and Selling at Burke & Herbert Financial Services

In related news, Director Julian Forrest Jr. Barnwell bought 1,140 shares of the company’s stock in a transaction on Thursday, March 13th. The stock was bought at an average cost of $58.38 per share, with a total value of $66,553.20. Following the completion of the purchase, the director now owns 91,361 shares in the company, valued at approximately $5,333,655.18. The trade was a 1.26 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Shawn Patrick Mclaughlin bought 1,000 shares of the stock in a transaction on Wednesday, January 29th. The shares were acquired at an average cost of $63.00 per share, with a total value of $63,000.00. Following the acquisition, the director now directly owns 62,000 shares in the company, valued at approximately $3,906,000. This trade represents a 1.64 % increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 19,140 shares of company stock valued at $1,195,743 in the last quarter. Corporate insiders own 9.65% of the company’s stock.

Institutional Trading of Burke & Herbert Financial Services

Hedge funds and other institutional investors have recently modified their holdings of the business. Fourthstone LLC grew its stake in Burke & Herbert Financial Services by 29.3% in the third quarter. Fourthstone LLC now owns 397,598 shares of the company’s stock worth $24,250,000 after purchasing an additional 90,151 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Burke & Herbert Financial Services by 190.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 108,481 shares of the company’s stock valued at $6,616,000 after acquiring an additional 71,105 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Burke & Herbert Financial Services by 94.4% during the 4th quarter. JPMorgan Chase & Co. now owns 64,526 shares of the company’s stock valued at $4,024,000 after buying an additional 31,327 shares during the period. State Street Corp raised its position in shares of 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 period. Finally, Vanguard Group Inc. lifted its position in shares of Burke & Herbert Financial Services by 3.2% in the fourth quarter. Vanguard Group Inc. now owns 732,163 shares of the company’s stock valued at $45,658,000 after acquiring an additional 22,559 shares in the last quarter.

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.