Shore Bancshares, Inc. (NASDAQ:SHBI) Shares Sold by Empowered Funds LLC

Empowered Funds LLC lowered its position in Shore Bancshares, Inc. (NASDAQ:SHBI) by 65.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 34,482 shares of the bank’s stock after selling 65,157 shares during the period. Empowered Funds LLC owned about 0.10% of Shore Bancshares worth $547,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in SHBI. Fourthstone LLC raised its stake in shares of 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 buying an additional 54,679 shares in the last quarter. Geode Capital Management LLC raised its position in Shore Bancshares by 1.9% in the third quarter. Geode Capital Management LLC now owns 712,895 shares of the bank’s stock worth $9,976,000 after acquiring an additional 13,445 shares in the last quarter. State Street Corp lifted its holdings 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 period. Hotchkis & Wiley Capital Management LLC boosted its position in shares of 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 purchasing an additional 2,700 shares in the last quarter. Finally, Curi RMB Capital LLC boosted 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 worth $2,451,000 after purchasing an additional 21,191 shares in the last quarter. Hedge funds and other institutional investors own 59.76% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SHBI. Piper Sandler initiated coverage on shares of Shore Bancshares in a report on Thursday, February 6th. They issued an “overweight” rating and a $20.00 price target for the company. Keefe, Bruyette & Woods raised shares of Shore Bancshares from a “market perform” rating to an “outperform” rating and increased their target price for the company from $16.00 to $20.00 in a report on Wednesday, December 4th.

Shore Bancshares Stock Down 1.2 %

Shore Bancshares stock opened at $16.25 on Wednesday. The firm has a market capitalization of $541.61 million, a price-to-earnings ratio of 12.22 and a beta of 0.97. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.93 and a current ratio of 0.94. Shore Bancshares, Inc. has a fifty-two week low of $10.06 and a fifty-two week high of $17.61. The stock’s fifty day moving average is $15.98 and its two-hundred day moving average is $15.04.

Shore Bancshares (NASDAQ:SHBI) last issued its quarterly earnings data on Thursday, January 30th. The bank reported $0.44 EPS for the quarter, beating 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%. Analysts predict that Shore Bancshares, Inc. will post 1.51 EPS for the current fiscal year.

Shore Bancshares Announces Dividend

The business 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. This represents a $0.48 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date of this dividend is Thursday, February 13th. Shore Bancshares’s payout ratio is currently 36.09%.

Insider Buying and Selling at Shore Bancshares

In related news, Director Konrad Wayson acquired 3,000 shares of Shore Bancshares stock in a transaction dated Monday, November 25th. The shares were acquired at an average cost of $16.94 per share, for a total transaction of $50,820.00. Following the completion of the transaction, the director now directly owns 53,266 shares of the company’s stock, valued at $902,326.04. The trade was a 5.97 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 8.57% of the stock is owned by insiders.

About Shore Bancshares

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.