Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Short Interest Up 24.8% in July

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) saw a large growth in short interest in July. As of July 15th, there was short interest totalling 128,300 shares, a growth of 24.8% from the June 30th total of 102,800 shares. Based on an average daily volume of 38,400 shares, the short-interest ratio is currently 3.3 days. Currently, 1.0% of the shares of the stock are short sold.

Burke & Herbert Financial Services Stock Performance

Shares of Burke & Herbert Financial Services stock traded down $0.51 on Tuesday, reaching $67.48. The company had a trading volume of 28,598 shares, compared to its average volume of 25,423. The firm’s 50 day moving average price is $51.89 and its two-hundred day moving average price is $53.69. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.72 and a quick ratio of 0.72. Burke & Herbert Financial Services has a 52-week low of $42.91 and a 52-week high of $69.28.

Burke & Herbert Financial Services (NASDAQ:BHRB) last released its quarterly earnings results on Friday, May 10th. The company reported $0.69 EPS for the quarter. Burke & Herbert Financial Services had a positive return on equity of 13.11% and a negative net margin of 1.10%. The company had revenue of $26.39 million for the quarter.

Burke & Herbert Financial Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $2.12 annualized dividend and a dividend yield of 3.14%.

Insider Buying and Selling at Burke & Herbert Financial Services

In other Burke & Herbert Financial Services news, Director Gary L. Hinkle purchased 613 shares of the stock in a transaction that occurred on Monday, May 13th. The shares were purchased at an average cost of $49.65 per share, for a total transaction of $30,435.45. Following the completion of the transaction, the director now owns 216,071 shares of the company’s stock, valued at approximately $10,727,925.15. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Gary L. Hinkle acquired 613 shares of the stock in a transaction on Monday, May 13th. The shares were bought at an average price of $49.65 per share, with a total value of $30,435.45. Following the completion of the purchase, the director now owns 216,071 shares of the company’s stock, valued at approximately $10,727,925.15. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gary L. Hinkle bought 600 shares of the business’s stock in a transaction on Wednesday, May 15th. The stock was bought at an average cost of $50.23 per share, with a total value of $30,138.00. Following the completion of the purchase, the director now directly owns 219,450 shares in the company, valued at $11,022,973.50. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 8,330 shares of company stock worth $410,321. Corporate insiders own 9.65% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Fortitude Family Office LLC lifted its holdings in Burke & Herbert Financial Services by 1,666.0% during the 2nd quarter. Fortitude Family Office LLC now owns 936 shares of the company’s stock worth $48,000 after buying an additional 883 shares in the last quarter. SG Americas Securities LLC grew its stake in Burke & Herbert Financial Services by 52.3% during the 4th quarter. SG Americas Securities LLC now owns 3,955 shares of the company’s stock worth $249,000 after purchasing an additional 1,359 shares in the last quarter. Burney Co. acquired a new position in Burke & Herbert Financial Services during the 2nd quarter worth $246,000. Folger Nolan Fleming Douglas Capital Management Inc. purchased a new stake in Burke & Herbert Financial Services during the 2nd quarter worth about $280,000. Finally, Quadrature Capital Ltd acquired a new stake in Burke & Herbert Financial Services in the 1st quarter valued at about $392,000.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods increased their price objective on Burke & Herbert Financial Services from $66.00 to $73.00 and gave the stock a “market perform” rating in a research report on Monday.

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.