Shore Bancshares, Inc. (NASDAQ:SHBI) Stock Position Decreased by Banc Funds Co. LLC

Banc Funds Co. LLC lowered its stake in shares of Shore Bancshares, Inc. (NASDAQ:SHBI - Free Report) by 13.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 398,809 shares of the bank's stock after selling 63,145 shares during the quarter. Banc Funds Co. LLC owned approximately 1.20% of Shore Bancshares worth $6,321,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC increased its holdings in shares of Shore Bancshares by 10.0% in the 4th quarter. Janney Montgomery Scott LLC now owns 21,741 shares of the bank's stock worth $345,000 after acquiring an additional 1,984 shares during the period. Charles Schwab Investment Management Inc. grew its position in Shore Bancshares by 2.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 86,435 shares of the bank's stock worth $1,209,000 after purchasing an additional 2,231 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of Shore Bancshares by 24.5% in the fourth quarter. SG Americas Securities LLC now owns 13,871 shares of the bank's stock valued at $220,000 after purchasing an additional 2,734 shares during the period. Invesco Ltd. raised its holdings in shares of Shore Bancshares by 9.1% during the fourth quarter. Invesco Ltd. now owns 50,622 shares of the bank's stock valued at $802,000 after buying an additional 4,230 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its position in shares of Shore Bancshares by 29.0% during the fourth quarter. Wells Fargo & Company MN now owns 19,253 shares of the bank's stock worth $305,000 after buying an additional 4,329 shares during the period. 59.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler started coverage on Shore Bancshares in a research report on Thursday, February 6th. They issued an "overweight" rating and a $20.00 target price on the stock.

Shore Bancshares Price Performance

SHBI traded up $0.16 on Friday, reaching $12.51. The company had a trading volume of 144,577 shares, compared to its average volume of 121,306. The company has a market capitalization of $417.23 million, a P/E ratio of 9.41 and a beta of 0.86. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.23. The company has a fifty day moving average of $13.88 and a 200-day moving average of $15.02. Shore Bancshares, Inc. has a one year low of $10.31 and a one year high of $17.61.

Shore Bancshares (NASDAQ:SHBI - Get Free Report) last posted 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%. As a group, equities research analysts anticipate that Shore Bancshares, Inc. will post 1.59 earnings per share for the current year.

Shore Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 27th. Stockholders of record on Thursday, February 13th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.84%. The ex-dividend date of this dividend was Thursday, February 13th. Shore Bancshares's dividend payout ratio is presently 36.09%.

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.