Mendon Capital Advisors Corp Acquires 41,127 Shares of Shore Bancshares, Inc. (NASDAQ:SHBI)

Mendon Capital Advisors Corp increased its holdings in shares of Shore Bancshares, Inc. (NASDAQ:SHBI - Free Report) by 21.6% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 231,838 shares of the bank's stock after purchasing an additional 41,127 shares during the period. Shore Bancshares accounts for approximately 1.8% of Mendon Capital Advisors Corp's holdings, making the stock its 18th largest position. Mendon Capital Advisors Corp owned about 0.70% of Shore Bancshares worth $3,658,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Geode Capital Management LLC increased its position in 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 acquiring an additional 13,445 shares during the period. State Street Corp increased its position in 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 acquired a new position in shares of Shore Bancshares during the fourth quarter worth $392,000. Barclays PLC boosted its stake in shares of Shore Bancshares by 48.2% during the third quarter. Barclays PLC now owns 84,942 shares of the bank's stock valued at $1,189,000 after purchasing an additional 27,627 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in Shore Bancshares by 45.7% during the 4th quarter. American Century Companies Inc. now owns 469,182 shares of the bank's stock worth $7,437,000 after acquiring an additional 147,148 shares during the last quarter. Institutional investors and hedge funds own 59.76% of the company's stock.

Analyst Ratings Changes

Separately, Piper Sandler began coverage on Shore Bancshares in a report on Thursday, February 6th. They set an "overweight" rating and a $20.00 price target for the company.

Shore Bancshares Price Performance

Shares of NASDAQ SHBI opened at $13.17 on Friday. The stock's 50-day simple moving average is $13.59 and its two-hundred day simple moving average is $14.99. Shore Bancshares, Inc. has a twelve month low of $10.31 and a twelve month high of $17.61. The firm has a market capitalization of $439.54 million, a P/E ratio of 9.90 and a beta of 0.86. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.23.

Shore Bancshares (NASDAQ:SHBI - Get Free Report) last released its earnings results on Thursday, January 30th. The bank reported $0.44 EPS for the quarter, beating the consensus estimate 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 analysts anticipate that Shore Bancshares, Inc. will post 1.59 EPS for the current fiscal year.

Shore Bancshares Announces Dividend

The business also recently declared 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 3.64%. The ex-dividend date of this dividend was Thursday, February 13th. Shore Bancshares's dividend payout ratio is presently 36.09%.

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.