Short Interest in Shore Bancshares, Inc. (NASDAQ:SHBI) Drops By 14.2%

Shore Bancshares, Inc. (NASDAQ:SHBI - Get Free Report) saw a large decline in short interest in January. As of January 15th, there was short interest totalling 167,000 shares, a decline of 14.2% from the December 31st total of 194,600 shares. Based on an average trading volume of 99,200 shares, the days-to-cover ratio is presently 1.7 days.

Shore Bancshares Stock Up 1.2 %

Shares of Shore Bancshares stock traded up $0.20 on Wednesday, reaching $16.26. 203,374 shares of the company were exchanged, compared to its average volume of 107,989. The stock's 50 day moving average price is $16.04 and its 200-day moving average price is $14.90. The company has a market cap of $541.95 million, a P/E ratio of 12.23 and a beta of 0.97. Shore Bancshares has a 1-year low of $10.06 and a 1-year high of $17.61. 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 released its quarterly earnings data on Thursday, January 30th. The bank reported $0.44 earnings per share (EPS) for the quarter, topping 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 forecast that Shore Bancshares will post 1.46 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods raised Shore Bancshares from a "market perform" rating to an "outperform" rating and upped their price objective for the stock from $16.00 to $20.00 in a research report on Wednesday, December 4th.

Insider Buying and Selling at Shore Bancshares

In other Shore Bancshares news, Director Konrad Wayson acquired 3,000 shares of the company's stock in a transaction that occurred on Monday, November 25th. The stock was purchased at an average price of $16.94 per share, for a total transaction of $50,820.00. Following the completion of the acquisition, the director now owns 53,266 shares of the company's stock, valued at approximately $902,326.04. This trade represents a 5.97 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 8.57% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new position in Shore Bancshares in the third quarter valued at approximately $156,000. AQR Capital Management LLC purchased a new position in shares of Shore Bancshares in the 2nd quarter valued at $147,000. JPMorgan Chase & Co. raised its stake in Shore Bancshares by 61.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 21,078 shares of the bank's stock worth $295,000 after acquiring an additional 7,994 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in Shore Bancshares by 10.0% in 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 last quarter. Finally, Proficio Capital Partners LLC purchased a new position in shares of Shore Bancshares during the fourth quarter worth about $392,000. 59.76% of the stock is owned by institutional investors and hedge funds.

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.