Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Sees Significant Growth in Short Interest

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) was the recipient of a significant increase in short interest during the month of December. As of December 31st, there was short interest totaling 344,091 shares, an increase of 26.2% from the December 15th total of 272,658 shares. Currently, 2.6% of the company’s stock are short sold. Based on an average daily volume of 87,623 shares, the days-to-cover ratio is presently 3.9 days. Based on an average daily volume of 87,623 shares, the days-to-cover ratio is presently 3.9 days. Currently, 2.6% of the company’s stock are short sold.

Insider Buying and Selling at Burke & Herbert Financial Services

In related news, Director Shawn Patrick Mclaughlin bought 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 28th. The shares were bought at an average price of $61.00 per share, with a total value of $61,000.00. Following the completion of the transaction, the director directly owned 67,000 shares in the company, valued at approximately $4,087,000. This represents a 1.52% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 10.92% of the stock is owned by corporate insiders.

Institutional Trading of Burke & Herbert Financial Services

A number of institutional investors have recently modified their holdings of BHRB. State of Alaska Department of Revenue bought a new position in Burke & Herbert Financial Services in the 3rd quarter worth approximately $37,000. CWM LLC boosted its holdings in shares of Burke & Herbert Financial Services by 732.7% in the second quarter. CWM LLC now owns 841 shares of the company’s stock worth $50,000 after acquiring an additional 740 shares during the period. Aquatic Capital Management LLC purchased a new position in shares of Burke & Herbert Financial Services in the third quarter valued at $117,000. PNC Financial Services Group Inc. grew its position in shares of Burke & Herbert Financial Services by 22.2% in the second quarter. PNC Financial Services Group Inc. now owns 2,202 shares of the company’s stock valued at $132,000 after purchasing an additional 400 shares in the last quarter. Finally, First United Bank & Trust raised its stake in shares of Burke & Herbert Financial Services by 96.3% during the 3rd quarter. First United Bank & Trust now owns 2,261 shares of the company’s stock valued at $139,000 after purchasing an additional 1,109 shares during the period.

Burke & Herbert Financial Services Stock Performance

Shares of NASDAQ:BHRB traded down $0.53 during mid-day trading on Friday, reaching $64.67. The company had a trading volume of 68,381 shares, compared to its average volume of 83,428. Burke & Herbert Financial Services has a one year low of $47.57 and a one year high of $70.51. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.11. The company’s 50-day moving average price is $64.38 and its 200-day moving average price is $62.43. The firm has a market cap of $971.93 million, a price-to-earnings ratio of 9.19 and a beta of 1.02.

Burke & Herbert Financial Services (NASDAQ:BHRB) last issued its quarterly earnings results on Thursday, October 23rd. The company reported $1.97 EPS for the quarter, beating analysts’ consensus estimates of $1.88 by $0.09. Burke & Herbert Financial Services had a return on equity of 14.95% and a net margin of 21.68%.The firm had revenue of $85.36 million for the quarter, compared to analysts’ expectations of $86.40 million. As a group, equities research analysts anticipate 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 announced a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Friday, November 14th were paid a $0.55 dividend. The ex-dividend date was Friday, November 14th. This represents a $2.20 annualized dividend and a dividend yield of 3.4%. Burke & Herbert Financial Services’s dividend payout ratio (DPR) is presently 31.25%.

Wall Street Analysts Forecast Growth

BHRB has been the topic of a number of analyst reports. DA Davidson downgraded shares of Burke & Herbert Financial Services from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. Summit Redstone set a $71.00 price target on shares of Burke & Herbert Financial Services in a report on Thursday, October 9th. Zacks Research upgraded shares of Burke & Herbert Financial Services from a “strong sell” rating to a “hold” rating in a research note on Monday, September 29th. Finally, Weiss Ratings restated 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 given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Burke & Herbert Financial Services has an average rating of “Hold” and a consensus target price of $71.50.

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.