Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) Short Interest Up 24.5% in June

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) was the recipient of a large growth in short interest during the month of June. As of June 30th, there was short interest totalling 102,800 shares, a growth of 24.5% from the June 15th total of 82,600 shares. Based on an average trading volume of 32,400 shares, the short-interest ratio is presently 3.2 days. Currently, 0.8% of the company’s shares are short sold.

Insider Buying and Selling

In related news, Director Gary L. Hinkle bought 613 shares of the stock in a transaction dated Monday, May 13th. The stock was purchased at an average cost of $49.65 per share, with a total value of $30,435.45. Following the completion of the purchase, the director now owns 216,071 shares of the company’s stock, valued at $10,727,925.15. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Burke & Herbert Financial Services news, Director Gary L. Hinkle acquired 613 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were purchased at an average cost of $49.65 per share, for a total transaction of $30,435.45. Following the completion of the purchase, the director now owns 216,071 shares in the company, valued at $10,727,925.15. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Julian Forrest Jr. Barnwell purchased 1,000 shares of the business’s stock in a transaction dated Tuesday, June 4th. The stock was bought at an average price of $48.49 per share, for a total transaction 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. In the last three months, insiders acquired 8,730 shares of company stock valued at $431,321. Insiders own 9.65% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BHRB. SG Americas Securities LLC grew its position in shares of Burke & Herbert Financial Services by 52.3% in the fourth quarter. SG Americas Securities LLC now owns 3,955 shares of the company’s stock valued at $249,000 after purchasing an additional 1,359 shares in the last quarter. Vanguard Group Inc. grew its holdings in Burke & Herbert Financial Services by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 341,705 shares of the company’s stock valued at $19,146,000 after buying an additional 4,574 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in shares of Burke & Herbert Financial Services in the 1st quarter worth $392,000. Folger Nolan Fleming Douglas Capital Management Inc. purchased a new position in shares of Burke & Herbert Financial Services during the 2nd quarter worth $280,000. Finally, Fortitude Family Office LLC boosted its holdings in Burke & Herbert Financial Services by 1,666.0% in 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.

Burke & Herbert Financial Services Stock Performance

Shares of NASDAQ BHRB traded up $4.34 during midday trading on Tuesday, reaching $59.51. The company had a trading volume of 14,142 shares, compared to its average volume of 23,184. Burke & Herbert Financial Services has a 1 year low of $42.91 and a 1 year high of $67.53. The business’s 50-day simple moving average is $49.37 and its 200 day simple moving average is $53.53. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 1.13.

Burke & Herbert Financial Services (NASDAQ:BHRB) last issued its earnings results on Friday, May 10th. The company reported $0.69 EPS for the quarter. The firm had revenue of $26.39 million for the quarter. Burke & Herbert Financial Services had a return on equity of 6.82% and a net margin of 12.04%.

Burke & Herbert Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Wednesday, May 15th were issued a dividend of $0.53 per share. The ex-dividend date was Tuesday, May 14th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.56%.

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.