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

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) saw a large decline in short interest in the month of February. As of February 28th, there was short interest totalling 72,800 shares, a decline of 32.4% from the February 13th total of 107,700 shares. Based on an average daily trading volume, of 52,700 shares, the short-interest ratio is currently 1.4 days. Approximately 0.6% of the shares of the company are short sold.

Insiders Place Their Bets

In other news, Director Julian Forrest Jr. Barnwell acquired 1,140 shares of the stock in a transaction dated Thursday, March 13th. The shares were acquired at an average cost of $58.38 per share, for a total transaction of $66,553.20. Following the completion of the transaction, the director now owns 91,361 shares in the company, valued at approximately $5,333,655.18. This trade represents a 1.26 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Shawn Patrick Mclaughlin acquired 1,000 shares of the stock in a transaction dated Wednesday, January 29th. The shares were purchased at an average price of $63.00 per share, for a total transaction of $63,000.00. Following the completion of the transaction, the director now owns 62,000 shares of the company’s stock, valued at $3,906,000. This trade represents a 1.64 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 19,140 shares of company stock valued at $1,195,743 in the last three months. Company insiders own 9.65% of the company’s stock.

Hedge Funds Weigh In On Burke & Herbert Financial Services

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Burke & Herbert Financial Services by 3.2% during the fourth quarter. Vanguard Group Inc. now owns 732,163 shares of the company’s stock valued at $45,658,000 after acquiring an additional 22,559 shares during the period. Fourthstone LLC increased its holdings in Burke & Herbert Financial Services by 14.3% in the fourth quarter. Fourthstone LLC now owns 454,526 shares of the company’s stock valued at $28,344,000 after purchasing an additional 56,928 shares during the last quarter. Geode Capital Management LLC increased its holdings in Burke & Herbert Financial Services by 5.2% in the third quarter. Geode Capital Management LLC now owns 306,243 shares of the company’s stock valued at $18,681,000 after purchasing an additional 15,092 shares during the last quarter. State Street Corp increased its holdings in Burke & Herbert Financial Services by 9.9% in the third quarter. State Street Corp now owns 289,576 shares of the company’s stock valued at $17,661,000 after purchasing an additional 26,191 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in Burke & Herbert Financial Services by 5.1% in the fourth quarter. Northern Trust Corp now owns 130,117 shares of the company’s stock valued at $8,114,000 after purchasing an additional 6,313 shares during the last quarter.

Burke & Herbert Financial Services Stock Performance

Shares of NASDAQ:BHRB opened at $58.74 on Monday. The business’s fifty day moving average price is $61.90 and its two-hundred day moving average price is $63.90. Burke & Herbert Financial Services has a fifty-two week low of $46.00 and a fifty-two week high of $75.32. The stock has a market capitalization of $879.22 million and a price-to-earnings ratio of 24.48. 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 posted its quarterly earnings data on Friday, January 24th. The company reported $1.77 EPS for the quarter, hitting analysts’ consensus estimates of $1.77. Burke & Herbert Financial Services had a return on equity of 15.15% and a net margin of 8.88%. As a group, analysts predict that Burke & Herbert Financial Services will post 8.05 EPS for the current fiscal year.

Burke & Herbert Financial Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Friday, February 14th were paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 3.75%. The ex-dividend date of this dividend was Friday, February 14th. Burke & Herbert Financial Services’s dividend payout ratio (DPR) is presently 91.67%.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods upgraded Burke & Herbert Financial Services from a “market perform” rating to an “outperform” rating and lowered their price objective for the company from $79.00 to $76.00 in a research report 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.