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

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) saw a significant growth in short interest during the month of March. As of March 31st, there was short interest totaling 750,344 shares, a growth of 31.6% from the March 15th total of 570,340 shares. Based on an average daily volume of 128,178 shares, the short-interest ratio is presently 5.9 days. Currently, 5.6% of the company’s stock are short sold.

Burke & Herbert Financial Services Stock Up 0.0%

Burke & Herbert Financial Services stock opened at $65.60 on Friday. The company’s 50-day moving average is $64.60 and its 200-day moving average is $63.71. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.81 and a quick ratio of 0.81. Burke & Herbert Financial Services has a fifty-two week low of $48.73 and a fifty-two week high of $70.90. The firm has a market capitalization of $986.57 million, a PE ratio of 8.50 and a beta of 0.98.

Burke & Herbert Financial Services (NASDAQ:BHRB) last issued its quarterly earnings data on Thursday, January 22nd. The company reported $1.98 earnings per share for the quarter, topping the consensus estimate of $1.91 by $0.07. Burke & Herbert Financial Services had a net margin of 23.89% and a return on equity of 14.79%. The company had revenue of $86.56 million for the quarter, compared to analysts’ expectations of $80.72 million. Sell-side analysts anticipate that Burke & Herbert Financial Services will post 8.05 earnings per share for the current year.

Burke & Herbert Financial Services Dividend Announcement

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of BHRB. Kestra Advisory Services LLC bought a new stake in Burke & Herbert Financial Services during the fourth quarter worth $30,000. State of Alaska Department of Revenue bought a new position in Burke & Herbert Financial Services during the third quarter valued at about $37,000. Aquatic Capital Management LLC purchased a new stake in Burke & Herbert Financial Services during the third quarter worth about $117,000. First United Bank & Trust increased its holdings in Burke & Herbert Financial Services by 96.3% during the third quarter. First United Bank & Trust now owns 2,261 shares of the company’s stock worth $139,000 after buying an additional 1,109 shares during the last quarter. Finally, Strs Ohio bought a new stake in Burke & Herbert Financial Services in the third quarter worth about $160,000.

Wall Street Analyst Weigh In

Several brokerages recently commented on BHRB. Weiss Ratings restated a “hold (c+)” rating on shares of Burke & Herbert Financial Services in a report on Monday, December 29th. Zacks Research cut shares of Burke & Herbert Financial Services from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 2nd. Citigroup downgraded shares of Burke & Herbert Financial Services to a “hold” rating in a research note on Wednesday, February 25th. DA Davidson assumed coverage on Burke & Herbert Financial Services in a research report on Wednesday, February 25th. They issued a “neutral” rating and a $75.00 target price on the stock. Finally, Loop Capital set a $74.00 target price on Burke & Herbert Financial Services in a report on Wednesday, February 25th. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $72.40.

About Burke & Herbert Financial Services

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.