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

Burke & Herbert Financial Services Corp. (NASDAQ:BHRB) was the target of 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 volume of 38,400 shares, the short-interest ratio is presently 3.3 days. Approximately 1.0% of the shares of the company are short sold.

Burke & Herbert Financial Services Trading Up 7.3 %

Shares of BHRB stock traded up $4.66 during trading hours on Friday, hitting $68.72. The company had a trading volume of 42,008 shares, compared to its average volume of 48,434. 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 has a 12 month low of $42.91 and a 12 month high of $69.22. The firm’s fifty day moving average is $51.53 and its 200 day moving average is $53.65.

Burke & Herbert Financial Services (NASDAQ:BHRB) last announced its earnings results on Friday, May 10th. The company reported $0.69 EPS for the quarter. The business 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 disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Thursday, August 15th will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 3.08%. The ex-dividend date of this dividend is Thursday, August 15th.

Insider Buying and Selling

In other news, Director Gary L. Hinkle purchased 613 shares of the stock in a transaction that occurred on 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 directly owns 216,071 shares of the company’s stock, valued at approximately $10,727,925.15. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Gary L. Hinkle acquired 600 shares of the stock in a transaction dated Wednesday, May 15th. The shares were bought at an average cost of $50.23 per share, for a total transaction of $30,138.00. Following the purchase, the director now owns 219,450 shares in the company, valued at approximately $11,022,973.50. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Gary L. Hinkle acquired 613 shares of the stock in a transaction dated Monday, May 13th. The stock was bought at an average price 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 approximately $10,727,925.15. The disclosure for this purchase can be found here. In the last 90 days, 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 large investors have recently bought and sold shares of BHRB. Fortitude Family Office LLC lifted its holdings in 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 worth $48,000 after buying an additional 883 shares in the last quarter. SG Americas Securities LLC lifted its holdings in Burke & Herbert Financial Services by 52.3% during the 4th quarter. SG Americas Securities LLC now owns 3,955 shares of the company’s stock worth $249,000 after buying an additional 1,359 shares in the last quarter. Folger Nolan Fleming Douglas Capital Management Inc. acquired a new position in Burke & Herbert Financial Services during the 2nd quarter worth $280,000. Quadrature Capital Ltd acquired a new position in shares of Burke & Herbert Financial Services in the 1st quarter valued at $392,000. Finally, Fifth Third Bancorp acquired a new position in shares of Burke & Herbert Financial Services in the 2nd quarter valued at $1,167,000.

Burke & Herbert Financial Services Company Profile

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.