Proficio Capital Partners LLC purchased a new position in Shore Bancshares, Inc. (NASDAQ:SHBI - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 24,726 shares of the bank's stock, valued at approximately $392,000. Proficio Capital Partners LLC owned 0.07% of Shore Bancshares as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC increased its position in shares of Shore Bancshares by 24.5% during 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. JPMorgan Chase & Co. lifted its stake in shares of Shore Bancshares by 61.1% during the third 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 during the period. Janney Montgomery Scott LLC lifted its stake in shares of Shore Bancshares by 10.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 21,741 shares of the bank's stock valued at $345,000 after acquiring an additional 1,984 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Shore Bancshares in the third quarter valued at about $763,000. Finally, Thrivent Financial for Lutherans increased its holdings in Shore Bancshares by 53.9% in the third quarter. Thrivent Financial for Lutherans now owns 72,458 shares of the bank's stock valued at $1,013,000 after purchasing an additional 25,370 shares during the last quarter. 59.76% of the stock is owned by institutional investors.
Shore Bancshares Stock Up 2.0 %
Shares of NASDAQ:SHBI traded up $0.27 during mid-day trading on Friday, reaching $13.58. 310,053 shares of the stock were exchanged, compared to its average volume of 103,028. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.23. The company has a market cap of $452.92 million, a P/E ratio of 10.21 and a beta of 1.01. Shore Bancshares, Inc. has a one year low of $10.06 and a one year high of $17.61. The stock's 50 day simple moving average is $15.41 and its 200-day simple moving average is $15.21.
Shore Bancshares (NASDAQ:SHBI - Get Free Report) last issued its quarterly 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 return on equity of 10.40% and a net margin of 13.44%. As a group, equities research analysts predict that Shore Bancshares, Inc. will post 1.59 EPS for the current year.
Shore Bancshares Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, February 27th. Investors of record on Thursday, February 13th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $0.48 annualized dividend and a yield of 3.53%. Shore Bancshares's payout ratio is currently 36.09%.
Wall Street Analyst Weigh In
A number of research firms recently commented on SHBI. Piper Sandler began coverage on Shore Bancshares in a report on Thursday, February 6th. They issued an "overweight" rating and a $20.00 price objective for the company. Keefe, Bruyette & Woods upgraded Shore Bancshares from a "market perform" rating to an "outperform" rating and increased their price objective for the stock from $16.00 to $20.00 in a report on Wednesday, December 4th.
Get Our Latest Stock Analysis 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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