Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Short Interest Up 34.1% in January

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) saw a large increase in short interest during the month of 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. Based on an average trading volume of 85,212 shares, the short-interest ratio is currently 5.4 days. Approximately 3.4% of the company’s shares are short sold. Approximately 3.4% of the company’s shares are short sold. Based on an average trading volume of 85,212 shares, the short-interest ratio is currently 5.4 days.

Institutional Trading of Burke & Herbert Financial Services

Hedge funds have recently made changes to their positions in the stock. State of Alaska Department of Revenue bought a new position in Burke & Herbert Financial Services during the 3rd quarter valued at approximately $37,000. CWM LLC grew its stake in shares of Burke & Herbert Financial Services by 732.7% in the second quarter. CWM LLC now owns 841 shares of the company’s stock worth $50,000 after acquiring an additional 740 shares during the last quarter. Aquatic Capital Management LLC bought a new position in shares of Burke & Herbert Financial Services during the third quarter valued at $117,000. PNC Financial Services Group Inc. raised its position in shares of Burke & Herbert Financial Services by 22.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 2,202 shares of the company’s stock worth $132,000 after purchasing an additional 400 shares during the last quarter. Finally, First United Bank & Trust raised its position in shares of Burke & Herbert Financial Services by 96.3% in the 3rd quarter. First United Bank & Trust now owns 2,261 shares of the company’s stock worth $139,000 after purchasing an additional 1,109 shares during the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Burke & Herbert Financial Services in a research note on Monday, December 29th. Zacks Research upgraded shares of Burke & Herbert Financial Services from a “hold” rating to a “strong-buy” rating in a report on Friday. DA Davidson lowered shares of Burke & Herbert Financial Services from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. Finally, Summit Redstone set a $71.00 price target on shares of Burke & Herbert Financial Services in a research report on Thursday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $71.50.

Burke & Herbert Financial Services Trading Up 3.0%

Shares of NASDAQ:BHRB traded up $1.95 on Tuesday, hitting $67.43. The company had a trading volume of 8,914 shares, compared to its average volume of 81,914. The firm’s 50-day simple moving average is $65.12 and its two-hundred day simple moving average is $62.50. Burke & Herbert Financial Services has a 1 year low of $47.57 and a 1 year high of $70.51. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of 8.73 and a beta of 1.02.

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

Burke & Herbert Financial Services Announces Dividend

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

About Burke & Herbert Financial Services

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.