Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Short Interest Up 26.2% in December

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

Insider Activity at Burke & Herbert Financial Services

In other Burke & Herbert Financial Services news, Director Shawn Patrick Mclaughlin purchased 1,000 shares of the company’s stock in a transaction on Tuesday, October 28th. The shares were bought at an average cost of $61.00 per share, with a total value of $61,000.00. Following 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 position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 10.92% of the company’s stock.

Institutional Trading of Burke & Herbert Financial Services

Institutional investors have recently added to or reduced their stakes in the stock. Atlantic Union Bankshares Corp bought a new position in shares of Burke & Herbert Financial Services in the second quarter worth approximately $591,000. Brookstone Capital Management bought a new position in Burke & Herbert Financial Services in the third quarter worth about $1,102,000. LSV Asset Management purchased a new position in shares of Burke & Herbert Financial Services in the 2nd quarter valued at approximately $968,000. Burke & Herbert Bank & Trust Co. lifted its position in Burke & Herbert Financial Services by 3.1% during the second quarter. Burke & Herbert Bank & Trust Co. now owns 259,495 shares of the company’s stock valued at $15,500,000 after buying an additional 7,800 shares during the period. Finally, American Century Companies Inc. lifted its position 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 Trading Down 0.8%

Shares of Burke & Herbert Financial Services stock opened at $64.67 on Monday. Burke & Herbert Financial Services has a 1 year low of $47.57 and a 1 year high of $70.51. The company has a market capitalization of $971.99 million, a price-to-earnings ratio of 9.19 and a beta of 1.02. The business has a fifty day simple moving average of $64.38 and a two-hundred day simple moving average of $62.43. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.81 and a quick ratio of 0.81.

Burke & Herbert Financial Services (NASDAQ:BHRB) last announced its earnings results on Thursday, October 23rd. The company reported $1.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.88 by $0.09. The company had revenue of $85.36 million during the quarter, compared to analysts’ expectations of $86.40 million. Burke & Herbert Financial Services had a net margin of 21.68% and a return on equity of 14.95%. Research analysts forecast that Burke & Herbert Financial Services will post 8.05 EPS for the current year.

Burke & Herbert Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Friday, November 14th were given a $0.55 dividend. The ex-dividend date was Friday, November 14th. This represents a $2.20 annualized dividend and a yield of 3.4%. Burke & Herbert Financial Services’s dividend payout ratio (DPR) is currently 31.25%.

Analysts Set New Price Targets

BHRB has been the subject of a number of recent analyst reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Burke & Herbert Financial Services in a research report on Monday, December 29th. DA Davidson cut Burke & Herbert Financial Services from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. Zacks Research upgraded shares of Burke & Herbert Financial Services from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th. Finally, Summit Redstone set a $71.00 price objective on shares of Burke & Herbert Financial Services in a research note on Thursday, October 9th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $71.50.

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.