Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Shore Bancshares, Inc. (NASDAQ:SHBI - Free Report) by 152.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 137,599 shares of the bank's stock after acquiring an additional 83,079 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.41% of Shore Bancshares worth $2,181,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC raised its stake in shares of Shore Bancshares by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 712,895 shares of the bank's stock worth $9,976,000 after purchasing an additional 13,445 shares in the last quarter. State Street Corp raised its stake in shares of Shore Bancshares by 8.5% during the 3rd quarter. State Street Corp now owns 537,140 shares of the bank's stock worth $7,515,000 after purchasing an additional 41,971 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Shore Bancshares during the 4th quarter worth approximately $392,000. Barclays PLC raised its stake in shares of Shore Bancshares by 48.2% during the 3rd quarter. Barclays PLC now owns 84,942 shares of the bank's stock worth $1,189,000 after purchasing an additional 27,627 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its stake in shares of Shore Bancshares by 53.9% during the 3rd quarter. Thrivent Financial for Lutherans now owns 72,458 shares of the bank's stock worth $1,013,000 after purchasing an additional 25,370 shares in the last quarter. Institutional investors own 59.76% of the company's stock.
Shore Bancshares Stock Performance
Shares of SHBI stock traded down $0.14 during midday trading on Friday, hitting $13.74. 344,092 shares of the company were exchanged, compared to its average volume of 108,309. Shore Bancshares, Inc. has a 52 week low of $10.06 and a 52 week high of $17.61. The firm has a market capitalization of $458.26 million, a P/E ratio of 10.33 and a beta of 1.01. The firm's 50 day moving average price is $15.22 and its two-hundred day moving average price is $15.20. 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 (NASDAQ:SHBI - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The bank reported $0.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.35 by $0.09. Shore Bancshares had a return on equity of 10.40% and a net margin of 13.44%. 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 announced a quarterly dividend, which was paid on Thursday, February 27th. Stockholders of record on Thursday, February 13th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 3.49%. The ex-dividend date was Thursday, February 13th. Shore Bancshares's payout ratio is 36.09%.
Analyst Ratings Changes
SHBI has been the topic of a number of analyst reports. Keefe, Bruyette & Woods upgraded Shore Bancshares from a "market perform" rating to an "outperform" rating and upped their price objective for the stock from $16.00 to $20.00 in a research note on Wednesday, December 4th. Piper Sandler began coverage on Shore Bancshares in a research note on Thursday, February 6th. They set an "overweight" rating and a $20.00 price objective on the stock.
Read Our Latest Research Report on SHBI
About Shore Bancshares
(
Free Report)
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.
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