SG Americas Securities LLC Buys 2,734 Shares of Shore Bancshares, Inc. (NASDAQ:SHBI)

SG Americas Securities LLC raised its position in Shore Bancshares, Inc. (NASDAQ:SHBI) by 24.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 13,871 shares of the bank’s stock after buying an additional 2,734 shares during the period. SG Americas Securities LLC’s holdings in Shore Bancshares were worth $220,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in SHBI. Fourthstone LLC raised its holdings in Shore Bancshares by 1.7% during the 3rd quarter. Fourthstone LLC now owns 3,329,922 shares of the bank’s stock worth $46,586,000 after purchasing an additional 54,679 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Shore Bancshares by 1.9% during the third quarter. Geode Capital Management LLC now owns 712,895 shares of the bank’s stock worth $9,976,000 after buying an additional 13,445 shares during the last quarter. State Street Corp boosted its stake in Shore Bancshares by 8.5% in the third quarter. State Street Corp now owns 537,140 shares of the bank’s stock valued at $7,515,000 after acquiring an additional 41,971 shares during the last quarter. Hotchkis & Wiley Capital Management LLC grew its holdings in Shore Bancshares by 1.0% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 269,375 shares of the bank’s stock worth $3,769,000 after acquiring an additional 2,700 shares during the period. Finally, Curi RMB Capital LLC raised its position in shares of Shore Bancshares by 13.8% during the 3rd quarter. Curi RMB Capital LLC now owns 175,164 shares of the bank’s stock valued at $2,451,000 after acquiring an additional 21,191 shares during the last quarter. Institutional investors own 59.76% of the company’s stock.

Shore Bancshares Stock Performance

Shares of SHBI opened at $16.49 on Friday. The firm has a market cap of $549.61 million, a P/E ratio of 12.40 and a beta of 0.97. Shore Bancshares, Inc. has a twelve month low of $10.06 and a twelve month high of $17.61. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.93 and a current ratio of 0.94. The firm’s 50 day moving average price is $16.04 and its two-hundred day moving average price is $14.92.

Shore Bancshares (NASDAQ:SHBI) last announced its earnings results on Thursday, January 30th. The bank reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.09. Shore Bancshares had a net margin of 13.44% and a return on equity of 10.40%. On average, analysts forecast that Shore Bancshares, Inc. will post 1.46 EPS for the current fiscal year.

Shore Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Thursday, February 13th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $0.48 annualized dividend and a yield of 2.91%. Shore Bancshares’s dividend payout ratio (DPR) is currently 36.09%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Piper Sandler initiated coverage on Shore Bancshares in a research note on Thursday. They set an “overweight” rating and a $20.00 price objective for the company. Keefe, Bruyette & Woods upgraded shares of Shore Bancshares from a “market perform” rating to an “outperform” rating and increased their price target for the company from $16.00 to $20.00 in a research report on Wednesday, December 4th.

Insider Transactions at Shore Bancshares

In other news, Director Konrad Wayson bought 3,000 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was bought at an average cost of $16.94 per share, for a total transaction of $50,820.00. Following the transaction, the director now owns 53,266 shares of the company’s stock, valued at $902,326.04. This represents a 5.97 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.57% of the stock is currently owned by corporate insiders.

Shore Bancshares Company Profile

Shore Bancshares, Inc operates as a bank holding company for the Shore United Bank, N.A. that provides various commercial and consumer banking products and services to individuals, businesses, and other organizations. It offers checking, savings, overnight investment sweep, and money market accounts; and regular and IRA certificates of deposit, as well as CDARS programs and cash management services.