Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Short Interest Up 24.8% in July

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) saw a large growth in short interest during the month of July. As of July 15th, there was short interest totalling 128,300 shares, a growth of 24.8% from the June 30th total of 102,800 shares. Based on an average daily trading volume, of 38,400 shares, the days-to-cover ratio is presently 3.3 days. Currently, 1.0% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods increased their price target on shares of Burke & Herbert Financial Services from $66.00 to $73.00 and gave the stock a “market perform” rating in a research note on Monday.

Burke & Herbert Financial Services Price Performance

BHRB stock traded down $0.73 during trading on Monday, hitting $67.99. 55,662 shares of the stock traded hands, compared to its average volume of 25,401. Burke & Herbert Financial Services has a 1 year low of $42.91 and a 1 year high of $69.28. The firm’s 50 day moving average is $51.53 and its two-hundred day moving average is $53.62. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.72 and a current ratio of 0.72.

Burke & Herbert Financial Services (NASDAQ:BHRB) last announced its quarterly earnings data on Friday, May 10th. The company reported $0.69 EPS for the quarter. Burke & Herbert Financial Services had a negative net margin of 1.10% and a positive return on equity of 13.11%. The company had revenue of $26.39 million for the quarter.

Burke & Herbert Financial Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th will be issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date of this dividend is Thursday, August 15th.

Insider Activity at Burke & Herbert Financial Services

In other news, Director Julian Forrest Jr. Barnwell purchased 1,000 shares of the stock in a transaction that occurred on Tuesday, June 4th. The stock was bought at an average cost of $48.49 per share, for a total transaction of $48,490.00. Following the acquisition, the director now directly owns 90,221 shares of the company’s stock, valued at approximately $4,374,816.29. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Gary L. Hinkle acquired 2,039 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was acquired at an average cost of $50.25 per share, for a total transaction of $102,459.75. Following the acquisition, the director now owns 222,169 shares of the company’s stock, valued at $11,163,992.25. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Julian Forrest Jr. Barnwell acquired 1,000 shares of the firm’s stock in a transaction on Tuesday, June 4th. The stock was bought at an average price of $48.49 per share, with a total value of $48,490.00. Following the completion of the acquisition, the director now directly owns 90,221 shares in the company, valued at approximately $4,374,816.29. The disclosure for this purchase can be found here. Insiders bought 8,730 shares of company stock worth $431,321 in the last three months. 9.65% of the stock is owned by insiders.

Institutional Trading of Burke & Herbert Financial Services

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Burke & Herbert Financial Services by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 341,705 shares of the company’s stock valued at $19,146,000 after acquiring an additional 4,574 shares during the last quarter. Burke & Herbert Bank & Trust Co. boosted its holdings in shares of Burke & Herbert Financial Services by 50.6% during the 2nd quarter. Burke & Herbert Bank & Trust Co. now owns 308,251 shares of the company’s stock valued at $15,715,000 after acquiring an additional 103,527 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Burke & Herbert Financial Services by 96.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 81,204 shares of the company’s stock valued at $4,140,000 after acquiring an additional 39,769 shares during the last quarter. Verdence Capital Advisors LLC purchased a new stake in shares of Burke & Herbert Financial Services during the 2nd quarter valued at about $2,218,000. Finally, AA Financial Advisors LLC purchased a new stake in shares of Burke & Herbert Financial Services during the 2nd quarter valued at about $1,589,000.

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.