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

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) saw a significant increase in short interest in January. As of January 15th, there was short interest totaling 461,396 shares, an increase of 34.1% from the December 31st total of 344,091 shares. Approximately 3.4% of the shares of the stock are short sold. Based on an average trading volume of 85,212 shares, the short-interest ratio is currently 5.4 days. Based on an average trading volume of 85,212 shares, the short-interest ratio is currently 5.4 days. Approximately 3.4% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. DA Davidson lowered Burke & Herbert Financial Services from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Burke & Herbert Financial Services in a research note on Monday, December 29th. Finally, Summit Redstone set a $71.00 price target on shares of Burke & Herbert Financial Services in a research note on Thursday, October 9th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $71.50.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Burke & Herbert Financial Services by 4.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,030 shares of the company’s stock worth $451,000 after buying an additional 319 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Burke & Herbert Financial Services by 16.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 71,849 shares of the company’s stock valued at $4,031,000 after buying an additional 10,117 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of Burke & Herbert Financial Services in the 1st quarter worth about $1,287,000. Wealth Enhancement Advisory Services LLC grew its position in shares of Burke & Herbert Financial Services by 7.7% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 6,600 shares of the company’s stock worth $422,000 after buying an additional 470 shares during the period. Finally, CWM LLC increased its stake in shares of Burke & Herbert Financial Services by 732.7% in the 2nd quarter. CWM LLC now owns 841 shares of the company’s stock worth $50,000 after acquiring an additional 740 shares in the last quarter.

Burke & Herbert Financial Services Trading Up 2.6%

Shares of BHRB stock traded up $1.72 during mid-day trading on Monday, reaching $67.20. The stock had a trading volume of 52,643 shares, compared to its average volume of 80,583. The firm has a market capitalization of $1.01 billion, a PE ratio of 8.71 and a beta of 1.02. The stock’s 50-day moving average price is $65.05 and its two-hundred day moving average price is $62.49. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.11. Burke & Herbert Financial Services has a 52-week low of $47.57 and a 52-week high of $70.51.

Burke & Herbert Financial Services (NASDAQ:BHRB) last posted its earnings results on Thursday, January 22nd. The company reported $1.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.91 by $0.07. The company had revenue of $86.56 million for the quarter, compared to analysts’ expectations of $80.72 million. Burke & Herbert Financial Services had a return on equity of 15.11% and a net margin of 23.89%. Equities analysts expect that Burke & Herbert Financial Services will post 8.05 earnings per share for the current fiscal year.

Burke & Herbert Financial Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Friday, February 13th will be paid a $0.55 dividend. The ex-dividend date of this dividend is Friday, February 13th. This represents a $2.20 dividend on an annualized basis and a yield of 3.3%. Burke & Herbert Financial Services’s dividend payout ratio (DPR) is presently 28.50%.

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.