Vanguard Group Inc. Reduces Position in Shore Bancshares, Inc. (NASDAQ:SHBI)

Vanguard Group Inc. decreased its stake in shares of Shore Bancshares, Inc. (NASDAQ:SHBI - Free Report) by 2.9% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,642,067 shares of the bank's stock after selling 48,394 shares during the period. Vanguard Group Inc. owned 4.93% of Shore Bancshares worth $26,027,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. SG Americas Securities LLC lifted its stake in Shore Bancshares by 24.5% in the 4th quarter. SG Americas Securities LLC now owns 13,871 shares of the bank's stock worth $220,000 after purchasing an additional 2,734 shares in the last quarter. LPL Financial LLC purchased a new position in Shore Bancshares in the 4th quarter worth approximately $270,000. Raymond James Financial Inc. purchased a new position in Shore Bancshares during the 4th quarter valued at about $279,000. JPMorgan Chase & Co. lifted its position in shares of Shore Bancshares by 61.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 21,078 shares of the bank's stock worth $295,000 after purchasing an additional 7,994 shares during the period. Finally, Janney Montgomery Scott LLC raised its position in shares of 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 acquiring an additional 1,984 shares in the last quarter. Institutional investors own 59.76% of the company's stock.

Analyst Ratings Changes

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

Shore Bancshares Stock Performance

Shares of Shore Bancshares stock traded up $0.16 during trading on Friday, hitting $12.51. 144,577 shares of the company's stock traded hands, compared to its average volume of 121,306. Shore Bancshares, Inc. has a 1 year low of $10.31 and a 1 year high of $17.61. The business has a 50-day simple moving average of $13.88 and a 200-day simple moving average of $15.02. The stock has a market capitalization of $417.23 million, a P/E ratio of 9.41 and a beta of 0.86. 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 announced its quarterly earnings results on Thursday, January 30th. The bank reported $0.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 EPS for the current year.

Shore Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 27th. Investors of record on Thursday, February 13th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 3.84%. The ex-dividend date was Thursday, February 13th. Shore Bancshares's payout ratio is currently 36.09%.

About Shore Bancshares

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.