Hillsdale Investment Management Inc. purchased a new position in shares of Shore Bancshares, Inc. (NASDAQ:SHBI - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 166,900 shares of the bank's stock, valued at approximately $2,645,000. Hillsdale Investment Management Inc. owned approximately 0.50% of Shore Bancshares at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. SG Americas Securities LLC boosted its position in Shore Bancshares by 24.5% during the fourth quarter. SG Americas Securities LLC now owns 13,871 shares of the bank's stock worth $220,000 after purchasing an additional 2,734 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Shore Bancshares in the 4th quarter valued at about $279,000. JPMorgan Chase & Co. increased its holdings in Shore Bancshares by 61.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 21,078 shares of the bank's stock valued at $295,000 after acquiring an additional 7,994 shares in the last quarter. Janney Montgomery Scott LLC raised its position in Shore Bancshares by 10.0% during the fourth 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 last quarter. Finally, Proficio Capital Partners LLC purchased a new stake in shares of Shore Bancshares in the fourth quarter valued at about $392,000. Institutional investors and hedge funds own 59.76% of the company's stock.
Shore Bancshares Trading Up 0.9 %
SHBI stock traded up $0.12 during midday trading on Thursday, hitting $13.91. The stock had a trading volume of 177,623 shares, compared to its average volume of 110,252. Shore Bancshares, Inc. has a 12-month low of $10.06 and a 12-month high of $17.61. The firm has a market cap of $463.93 million, a PE ratio of 10.46 and a beta of 1.01. The company's 50-day moving average price is $15.12 and its 200 day moving average price is $15.20. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.94 and a quick ratio of 0.93.
Shore Bancshares (NASDAQ:SHBI - Get Free Report) last issued its quarterly earnings results 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%. On average, equities research analysts predict that Shore Bancshares, Inc. will post 1.59 earnings per share for the current fiscal year.
Shore Bancshares Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, February 27th. Shareholders of record on Thursday, February 13th were issued a $0.12 dividend. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.45%. Shore Bancshares's dividend payout ratio (DPR) is presently 36.09%.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on SHBI. Keefe, Bruyette & Woods upgraded Shore Bancshares from a "market perform" rating to an "outperform" rating and lifted their price objective for the stock from $16.00 to $20.00 in a research report on Wednesday, December 4th. Piper Sandler started coverage on Shore Bancshares in a research report on Thursday, February 6th. They set an "overweight" rating and a $20.00 price objective for the company.
Read Our Latest Research Report on Shore Bancshares
Shore Bancshares Profile
(
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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