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

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

Wall Street Analysts Forecast Growth

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

Burke & Herbert Financial Services Trading Up 0.9 %

Shares of NASDAQ BHRB opened at $58.74 on Monday. Burke & Herbert Financial Services has a one year low of $46.00 and a one year high of $75.32. The firm has a market capitalization of $879.22 million and a PE ratio of 24.48. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.15. The business has a 50-day moving average price of $61.90 and a two-hundred day moving average price of $63.90.

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

Burke & Herbert Financial Services Announces Dividend

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

Insider Buying and Selling

In related news, Director Julian Forrest Jr. Barnwell purchased 1,140 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The shares were purchased at an average price of $58.38 per share, with a total value of $66,553.20. Following the purchase, the director now owns 91,361 shares of the company’s stock, valued at $5,333,655.18. This trade represents a 1.26 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Gary L. Hinkle acquired 3,000 shares of the firm’s stock in a transaction on Monday, February 10th. The shares were acquired at an average price of $64.97 per share, with a total value of $194,910.00. Following the completion of the transaction, the director now directly owns 248,459 shares in the company, valued at approximately $16,142,381.23. This trade represents a 1.22 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 19,140 shares of company stock valued at $1,195,743 over the last three months. Company insiders own 9.65% of the company’s stock.

Institutional Investors Weigh In On Burke & Herbert Financial Services

Institutional investors have recently made changes to their positions in the company. Sterling Capital Management LLC lifted its holdings in Burke & Herbert Financial Services by 841.3% in the 4th quarter. Sterling Capital Management LLC now owns 433 shares of the company’s stock worth $27,000 after purchasing an additional 387 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in Burke & Herbert Financial Services by 227.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,347 shares of the company’s stock worth $84,000 after purchasing an additional 936 shares during the last quarter. Quantbot Technologies LP acquired a new stake in Burke & Herbert Financial Services in the 3rd quarter worth approximately $118,000. KLP Kapitalforvaltning AS acquired a new stake in Burke & Herbert Financial Services in the 4th quarter worth approximately $156,000. Finally, Squarepoint Ops LLC acquired a new stake in Burke & Herbert Financial Services in the 4th quarter worth approximately $218,000.

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.