Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Short Interest Down 14.2% in August

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) was the target of a large decrease in short interest in the month of August. As of August 31st, there was short interest totalling 127,900 shares, a decrease of 14.2% from the August 15th total of 149,100 shares. Based on an average daily trading volume, of 50,400 shares, the short-interest ratio is presently 2.5 days. Approximately 1.0% of the shares of the company are short sold.

Insider Buying and Selling

In other news, Director Gary L. Hinkle bought 5,000 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was purchased at an average price of $68.09 per share, with a total value of $340,450.00. Following the transaction, the director now directly owns 233,155 shares in the company, valued at $15,875,523.95. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 9.65% of the stock is owned by insiders.

Institutional Trading of Burke & Herbert Financial Services

Several institutional investors have recently modified their holdings of the company. HHM Wealth Advisors LLC acquired a new position in shares of Burke & Herbert Financial Services in the second quarter valued at $29,000. Fortitude Family Office LLC raised its stake in shares of Burke & Herbert Financial Services by 1,666.0% in the 2nd quarter. Fortitude Family Office LLC now owns 936 shares of the company’s stock valued at $48,000 after buying an additional 883 shares in the last quarter. Moors & Cabot Inc. lifted its holdings in shares of Burke & Herbert Financial Services by 6.9% during the 2nd quarter. Moors & Cabot Inc. now owns 28,872 shares of the company’s stock worth $1,472,000 after acquiring an additional 1,851 shares during the period. LSV Asset Management bought a new position in shares of Burke & Herbert Financial Services during the 2nd quarter worth about $108,000. Finally, Truist Financial Corp acquired a new stake in shares of Burke & Herbert Financial Services during the 2nd quarter valued at about $202,000.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods lifted their price target 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, July 29th.

Burke & Herbert Financial Services Stock Performance

NASDAQ:BHRB traded up $1.87 during trading hours on Tuesday, hitting $67.06. 4,207 shares of the company traded hands, compared to its average volume of 31,180. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.16. Burke & Herbert Financial Services has a twelve month low of $42.91 and a twelve month high of $70.00. The firm has a 50-day moving average of $62.17 and a 200 day moving average of $55.28. The stock has a market capitalization of $995.71 million and a price-to-earnings ratio of 8.00.

Burke & Herbert Financial Services (NASDAQ:BHRB) last posted its quarterly earnings data on Friday, July 26th. The company reported $2.04 earnings per share (EPS) for the quarter. Burke & Herbert Financial Services had a negative net margin of 1.10% and a positive return on equity of 9.96%. The company had revenue of $69.27 million for the quarter.

Burke & Herbert Financial Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th were issued a $0.53 dividend. The ex-dividend date was Thursday, August 15th. This represents a $2.12 annualized dividend and a yield of 3.16%. Burke & Herbert Financial Services’s dividend payout ratio (DPR) is 26.01%.

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.