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 large increase in short interest during the month of February. As of February 15th, there was short interest totalling 107,700 shares, an increase of 30.2% from the January 31st total of 82,700 shares. Currently, 0.8% of the shares of the stock are sold short. Based on an average daily volume of 39,500 shares, the short-interest ratio is currently 2.7 days.

Burke & Herbert Financial Services Stock Down 3.0 %

Shares of Burke & Herbert Financial Services stock traded down $1.90 on Tuesday, reaching $61.29. 107,396 shares of the company were exchanged, compared to its average volume of 52,254. The stock’s 50 day moving average price is $62.47 and its 200-day moving average price is $64.23. The company has a market cap of $917.39 million and a P/E ratio of 25.54. 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 (NASDAQ:BHRB) last announced its quarterly earnings data on Friday, January 24th. The company reported $1.77 EPS for the quarter, meeting analysts’ consensus estimates of $1.77. Burke & Herbert Financial Services had a net margin of 8.88% and a return on equity of 15.15%. As a group, equities analysts forecast that Burke & Herbert Financial Services will post 8.05 EPS for the current year.

Burke & Herbert Financial Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were issued a $0.55 dividend. The ex-dividend date was Friday, February 14th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.59%. Burke & Herbert Financial Services’s payout ratio is currently 91.67%.

Insider Buying and Selling

In related news, Director Julian Forrest Jr. Barnwell purchased 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The stock was purchased at an average price of $61.75 per share, with a total value of $123,500.00. Following the completion of the acquisition, the director now owns 197,939 shares in the company, valued at $12,222,733.25. This trade represents a 1.02 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Shawn Patrick Mclaughlin purchased 555 shares of Burke & Herbert Financial Services stock in a transaction dated Monday, December 9th. The shares were bought at an average price of $69.35 per share, for a total transaction of $38,489.25. Following the acquisition, the director now owns 61,000 shares in the company, valued at approximately $4,230,350. This trade represents a 0.92 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 17,750 shares of company stock worth $1,147,932 in the last 90 days. Insiders own 9.65% of the company’s stock.

Institutional Investors Weigh In On Burke & Herbert Financial Services

Institutional investors have recently added to or reduced their stakes in the business. Swiss National Bank raised its holdings in Burke & Herbert Financial Services by 1.1% during the fourth quarter. Swiss National Bank now owns 26,400 shares of the company’s stock worth $1,646,000 after purchasing an additional 300 shares in the last quarter. Rhumbline Advisers increased its stake in shares of Burke & Herbert Financial Services by 1.9% during the fourth quarter. Rhumbline Advisers now owns 18,548 shares of the company’s stock worth $1,157,000 after acquiring an additional 341 shares during the period. Sterling Capital Management LLC lifted its holdings in Burke & Herbert Financial Services by 841.3% in the fourth quarter. Sterling Capital Management LLC now owns 433 shares of the company’s stock valued at $27,000 after acquiring an additional 387 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Burke & Herbert Financial Services by 7.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,711 shares of the company’s stock worth $481,000 after purchasing an additional 535 shares in the last quarter. Finally, Quadrature Capital Ltd grew its stake in shares of Burke & Herbert Financial Services by 4.8% during the 3rd quarter. Quadrature Capital Ltd now owns 12,309 shares of the company’s stock worth $750,000 after purchasing an additional 566 shares during the period.

Wall Street Analysts Forecast Growth

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

About Burke & Herbert Financial Services

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.