Bank of New York Mellon Corp Has $3.05 Million Holdings in Shore Bancshares, Inc. (NASDAQ:SHBI)

Bank of New York Mellon Corp lessened its stake in Shore Bancshares, Inc. (NASDAQ:SHBI - Free Report) by 18.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 192,388 shares of the bank's stock after selling 42,256 shares during the period. Bank of New York Mellon Corp owned 0.58% of Shore Bancshares worth $3,049,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the stock. Janney Montgomery Scott LLC raised its position in 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 purchasing an additional 1,984 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Shore Bancshares by 2.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 86,435 shares of the bank's stock valued at $1,209,000 after acquiring an additional 2,231 shares during the last quarter. Hotchkis & Wiley Capital Management LLC raised its position in shares of Shore Bancshares by 1.0% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 269,375 shares of the bank's stock valued at $3,769,000 after acquiring an additional 2,700 shares during the last quarter. SG Americas Securities LLC raised its position in shares of Shore Bancshares by 24.5% during the 4th quarter. SG Americas Securities LLC now owns 13,871 shares of the bank's stock valued at $220,000 after acquiring an additional 2,734 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of 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 during the last quarter. Institutional investors own 59.76% of the company's stock.

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Wall Street Analysts Forecast Growth

Several brokerages have commented on SHBI. Piper Sandler began coverage on shares of Shore Bancshares in a research report on Thursday, February 6th. They set an "overweight" rating and a $20.00 target price for the company. Keefe, Bruyette & Woods upgraded shares of Shore Bancshares from a "market perform" rating to an "outperform" rating and upped their target price for the company from $16.00 to $20.00 in a research report on Wednesday, December 4th.

Shore Bancshares Trading Down 1.0 %

Shares of SHBI stock traded down $0.14 on Friday, hitting $13.74. The stock had a trading volume of 344,092 shares, compared to its average volume of 108,548. Shore Bancshares, Inc. has a twelve month low of $10.06 and a twelve month high of $17.61. The firm has a market cap of $458.26 million, a P/E ratio of 10.33 and a beta of 1.01. 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 price of $15.22 and a two-hundred day moving average price of $15.20.

Shore Bancshares (NASDAQ:SHBI - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The bank reported $0.44 earnings per share (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, analysts forecast that Shore Bancshares, Inc. will post 1.59 earnings per share for the current fiscal year.

Shore Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 27th. Stockholders of record on Thursday, February 13th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 3.49%. The ex-dividend date of this dividend was Thursday, February 13th. Shore Bancshares's dividend payout ratio (DPR) is 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.