Shore Bancshares, Inc. (NASDAQ:SHBI - Get Free Report) shares hit a new 52-week high during trading on Wednesday . The company traded as high as $16.40 and last traded at $16.40, with a volume of 499 shares. The stock had previously closed at $14.61.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on SHBI. Keefe, Bruyette & Woods boosted their price target on Shore Bancshares from $13.00 to $15.00 and gave the company a "market perform" rating in a report on Friday, July 26th. Janney Montgomery Scott cut shares of Shore Bancshares from a "buy" rating to a "neutral" rating in a research note on Tuesday, July 30th.
Check Out Our Latest Analysis on Shore Bancshares
Shore Bancshares Stock Up 12.5 %
The company has a market cap of $547.45 million, a price-to-earnings ratio of 13.24 and a beta of 0.95. The business has a fifty day moving average of $14.07 and a two-hundred day moving average of $12.66. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.29.
Shore Bancshares Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Tuesday, November 12th will be given a dividend of $0.12 per share. The ex-dividend date is Tuesday, November 12th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.92%. Shore Bancshares's dividend payout ratio (DPR) is 38.40%.
Institutional Investors Weigh In On Shore Bancshares
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. AQR Capital Management LLC purchased a new position in Shore Bancshares during the second quarter valued at $147,000. SG Americas Securities LLC acquired a new stake in Shore Bancshares in the 3rd quarter worth about $156,000. Quadrature Capital Ltd purchased a new stake in Shore Bancshares during the 1st quarter worth approximately $200,000. Black Maple Capital Management LP raised its holdings in shares of Shore Bancshares by 20.0% during the first quarter. Black Maple Capital Management LP now owns 30,028 shares of the bank's stock valued at $345,000 after acquiring an additional 5,000 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in shares of Shore Bancshares by 428.0% during the first quarter. BNP Paribas Financial Markets now owns 42,829 shares of the bank's stock valued at $493,000 after acquiring an additional 34,717 shares during the last quarter. Hedge funds and other institutional investors own 59.76% of the company's stock.
About Shore Bancshares
(
Get 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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