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

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) was the target of a large decline in short interest during the month of November. As of November 15th, there was short interest totalling 114,300 shares, a decline of 8.3% from the October 31st total of 124,700 shares. Based on an average daily trading volume, of 58,500 shares, the days-to-cover ratio is currently 2.0 days. Currently, 0.9% of the company’s stock are sold short.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. DA Davidson initiated coverage on Burke & Herbert Financial Services in a research report on Wednesday, October 16th. They set a “buy” rating and a $76.00 target price for the company. Keefe, Bruyette & Woods upped their price objective on shares of Burke & Herbert Financial Services from $72.00 to $79.00 and gave the stock a “market perform” rating in a report on Wednesday.

Insider Activity

In other Burke & Herbert Financial Services news, Director Gary L. Hinkle acquired 1,548 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was purchased at an average cost of $68.50 per share, for a total transaction of $106,038.00. Following the completion of the acquisition, the director now owns 238,355 shares of the company’s stock, valued at approximately $16,327,317.50. This trade represents a 0.65 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 9.65% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Burke & Herbert Financial Services

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Burke & Herbert Financial Services by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 341,705 shares of the company’s stock valued at $19,146,000 after purchasing an additional 4,574 shares during the period. Fortitude Family Office LLC grew its position in Burke & Herbert Financial Services by 1,666.0% during the second 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. Burke & Herbert Bank & Trust Co. increased its stake in Burke & Herbert Financial Services by 50.6% during the second quarter. Burke & Herbert Bank & Trust Co. now owns 308,251 shares of the company’s stock valued at $15,715,000 after acquiring an additional 103,527 shares during the period. AA Financial Advisors LLC acquired a new position in Burke & Herbert Financial Services in the 2nd quarter valued at approximately $1,589,000. Finally, Fifth Third Bancorp bought a new stake in shares of Burke & Herbert Financial Services in the 2nd quarter worth approximately $1,167,000.

Burke & Herbert Financial Services Stock Down 0.2 %

Shares of NASDAQ BHRB traded down $0.16 during trading hours on Wednesday, hitting $69.18. 41,860 shares of the company’s stock were exchanged, compared to its average volume of 37,134. The company’s 50-day moving average price is $64.55 and its 200-day moving average price is $59.78. Burke & Herbert Financial Services has a 1-year low of $46.00 and a 1-year high of $75.32. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.83 and a quick ratio of 0.83.

Burke & Herbert Financial Services Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 15th were issued a dividend of $0.55 per share. The ex-dividend date was Friday, November 15th. This is a positive change from Burke & Herbert Financial Services’s previous quarterly dividend of $0.53. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.18%.

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.