Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Short Interest Up 34.1% in January

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) was the recipient of a significant growth in short interest in January. As of January 15th, there was short interest totaling 461,396 shares, a growth of 34.1% from the December 31st total of 344,091 shares. Currently, 3.4% of the shares of the stock are short sold. Based on an average trading volume of 85,212 shares, the days-to-cover ratio is presently 5.4 days. Based on an average trading volume of 85,212 shares, the days-to-cover ratio is presently 5.4 days. Currently, 3.4% of the shares of the stock are short sold.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Burke & Herbert Financial Services by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 779,800 shares of the company’s stock valued at $48,589,000 after buying an additional 14,358 shares in the last quarter. Geode Capital Management LLC grew its stake in Burke & Herbert Financial Services by 6.7% during the second quarter. Geode Capital Management LLC now owns 337,425 shares of the company’s stock valued at $20,155,000 after acquiring an additional 21,258 shares in the last quarter. Burke & Herbert Bank & Trust Co. grew its stake in Burke & Herbert Financial Services by 3.1% during the second quarter. Burke & Herbert Bank & Trust Co. now owns 259,495 shares of the company’s stock valued at $15,500,000 after acquiring an additional 7,800 shares in the last quarter. Hutchinson Capital Management CA grew its stake in Burke & Herbert Financial Services by 0.4% during the third quarter. Hutchinson Capital Management CA now owns 258,080 shares of the company’s stock valued at $15,921,000 after acquiring an additional 1,000 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in Burke & Herbert Financial Services by 135.6% in the 2nd quarter. American Century Companies Inc. now owns 122,649 shares of the company’s stock valued at $7,326,000 after acquiring an additional 70,582 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Summit Redstone set a $71.00 price target on shares of Burke & Herbert Financial Services in a research report on Thursday, October 9th. DA Davidson lowered shares of Burke & Herbert Financial Services from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Burke & Herbert Financial Services in a research note on Monday, December 29th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $71.50.

Burke & Herbert Financial Services Price Performance

NASDAQ:BHRB traded up $1.08 during trading hours on Friday, hitting $65.48. 117,155 shares of the stock traded hands, compared to its average volume of 76,249. The company has a market cap of $984.16 million, a price-to-earnings ratio of 8.48 and a beta of 1.02. Burke & Herbert Financial Services has a 1 year low of $47.57 and a 1 year high of $70.51. The stock has a 50 day moving average price of $65.05 and a 200 day moving average price of $62.50. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.11.

Burke & Herbert Financial Services (NASDAQ:BHRB) last announced its quarterly earnings data on Thursday, January 22nd. The company reported $1.98 EPS for the quarter, beating the consensus estimate of $1.91 by $0.07. The firm had revenue of $86.56 million for the quarter, compared to the consensus estimate of $80.72 million. Burke & Herbert Financial Services had a net margin of 23.89% and a return on equity of 15.11%. Sell-side analysts forecast that Burke & Herbert Financial Services will post 8.05 EPS for the current fiscal year.

Burke & Herbert Financial Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Friday, February 13th will be paid a $0.55 dividend. The ex-dividend date of this dividend is Friday, February 13th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.4%. Burke & Herbert Financial Services’s dividend payout ratio is 28.50%.

Burke & Herbert Financial Services Company Profile

Burke & Herbert Financial Services, Inc is a bank holding company headquartered in Alexandria, Virginia, and the parent company of Burke & Herbert Bank. The company operates as a community‐focused financial institution, offering a full suite of commercial and consumer banking products to individuals, small businesses, and nonprofit organizations in the Washington, DC metropolitan area.

The company’s core banking services include traditional deposit accounts such as checking, savings, money market and certificates of deposit, alongside digital banking platforms for online and mobile account access.