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

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) was the recipient of a significant increase in short interest in January. As of January 15th, there was short interest totaling 461,396 shares, an increase of 34.1% from the December 31st total of 344,091 shares. Approximately 3.4% of the shares of the stock are short sold. Based on an average daily volume of 85,212 shares, the short-interest ratio is presently 5.4 days. Based on an average daily volume of 85,212 shares, the short-interest ratio is presently 5.4 days. Approximately 3.4% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

BHRB has been the subject of a number of research reports. DA Davidson lowered Burke & Herbert Financial Services from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Burke & Herbert Financial Services in a report on Monday, December 29th. Finally, Summit Redstone set a $71.00 target price on shares of Burke & Herbert Financial Services in a report on Thursday, October 9th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $71.50.

Burke & Herbert Financial Services Trading Up 1.7%

BHRB stock traded up $1.08 during midday trading on Friday, reaching $65.48. 117,155 shares of the company traded hands, compared to its average volume of 76,249. The firm has a market capitalization of $984.16 million, a price-to-earnings ratio of 8.48 and a beta of 1.02. Burke & Herbert Financial Services has a 52-week low of $47.57 and a 52-week high of $70.51. The business has a 50 day moving average of $65.05 and a 200-day moving average of $62.50. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.81 and a current ratio of 0.81.

Burke & Herbert Financial Services (NASDAQ:BHRB) last released its earnings results on Thursday, January 22nd. The company reported $1.98 earnings per share for the quarter, beating the consensus estimate of $1.91 by $0.07. Burke & Herbert Financial Services had a return on equity of 15.11% and a net margin of 23.89%.The firm had revenue of $86.56 million for the quarter, compared to the consensus estimate of $80.72 million. As a group, sell-side analysts expect 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 announced a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Friday, February 13th will be paid a $0.55 dividend. The ex-dividend date of this dividend is Friday, February 13th. This represents a $2.20 annualized dividend and a dividend yield of 3.4%. Burke & Herbert Financial Services’s dividend payout ratio is currently 28.50%.

Hedge Funds Weigh In On Burke & Herbert Financial Services

Several hedge funds have recently added to or reduced their stakes in BHRB. Vanguard Group Inc. raised its position in Burke & Herbert Financial Services by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 779,800 shares of the company’s stock worth $48,589,000 after purchasing an additional 14,358 shares during the period. Geode Capital Management LLC grew its stake in shares of Burke & Herbert Financial Services by 6.7% during the second quarter. Geode Capital Management LLC now owns 337,425 shares of the company’s stock valued at $20,155,000 after buying an additional 21,258 shares during the last quarter. Burke & Herbert Bank & Trust Co. raised its holdings in shares of Burke & Herbert Financial Services by 3.1% in the second quarter. Burke & Herbert Bank & Trust Co. now owns 259,495 shares of the company’s stock worth $15,500,000 after buying an additional 7,800 shares during the period. Hutchinson Capital Management CA lifted its stake in shares of Burke & Herbert Financial Services by 0.4% during the 3rd quarter. Hutchinson Capital Management CA now owns 258,080 shares of the company’s stock worth $15,921,000 after acquiring an additional 1,000 shares during the last quarter. Finally, American Century Companies Inc. boosted its holdings in Burke & Herbert Financial Services by 135.6% during the 2nd quarter. American Century Companies Inc. now owns 122,649 shares of the company’s stock valued at $7,326,000 after acquiring an additional 70,582 shares during the period.

Burke & Herbert Financial Services Company Profile

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.