Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Short Interest Down 8.3% in November

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) saw a significant decline in short interest in the month of November. As of November 15th, there was short interest totalling 114,300 shares, a decline of 8.3% from the October 31st total of 124,700 shares. Currently, 0.9% of the company’s shares are short sold. Based on an average daily trading volume, of 58,500 shares, the days-to-cover ratio is currently 2.0 days.

Burke & Herbert Financial Services Price Performance

NASDAQ:BHRB traded up $0.93 during mid-day trading on Monday, reaching $70.21. The company’s stock had a trading volume of 20,511 shares, compared to its average volume of 37,077. The firm’s fifty day moving average price is $64.29 and its two-hundred day moving average price is $59.51. 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 has a 12-month low of $46.00 and a 12-month high of $75.32.

Burke & Herbert Financial Services Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be paid a dividend of $0.55 per share. The ex-dividend date is Friday, November 15th. This is a positive change from Burke & Herbert Financial Services’s previous quarterly dividend of $0.53. This represents a $2.20 dividend on an annualized basis and a yield of 3.13%.

Analyst Ratings Changes

A number of research analysts have issued reports on BHRB shares. Keefe, Bruyette & Woods reduced their price objective on shares of Burke & Herbert Financial Services from $73.00 to $72.00 and set a “market perform” rating on the stock in a research report on Tuesday, October 29th. DA Davidson initiated coverage on Burke & Herbert Financial Services in a research report on Wednesday, October 16th. They issued a “buy” rating and a $76.00 target price for the company.

Insider Buying and Selling

In other Burke & Herbert Financial Services news, Director Gary L. Hinkle acquired 1,548 shares of the company’s stock in a transaction on Monday, November 18th. The stock was acquired at an average price of $68.50 per share, for a total transaction of $106,038.00. Following the acquisition, the director now owns 238,355 shares in the company, valued at $16,327,317.50. This represents a 0.65 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 9.65% of the stock is owned by insiders.

Hedge Funds Weigh In On Burke & Herbert Financial Services

Institutional investors and hedge funds have recently modified their holdings of the company. HHM Wealth Advisors LLC purchased a new stake in Burke & Herbert Financial Services during the second quarter valued at $29,000. Fortitude Family Office LLC increased its position in shares of Burke & Herbert Financial Services by 1,666.0% during the 2nd quarter. Fortitude Family Office LLC now owns 936 shares of the company’s stock valued at $48,000 after purchasing an additional 883 shares during the last quarter. LSV Asset Management purchased a new position in shares of Burke & Herbert Financial Services in the second quarter worth approximately $108,000. Quantbot Technologies LP bought a new stake in Burke & Herbert Financial Services during the third quarter valued at approximately $118,000. Finally, Truist Financial Corp purchased a new stake in Burke & Herbert Financial Services during the second quarter valued at approximately $202,000.

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.