Shore Bancshares, Inc. (NASDAQ:SHBI) Shares Acquired by Bailard Inc.

Bailard Inc. lifted its stake in shares of Shore Bancshares, Inc. (NASDAQ:SHBI) by 55.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 40,887 shares of the bank’s stock after acquiring an additional 14,500 shares during the quarter. Bailard Inc.’s holdings in Shore Bancshares were worth $583,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. SG Americas Securities LLC boosted its holdings in Shore Bancshares by 27.3% during the fourth quarter. SG Americas Securities LLC now owns 16,248 shares of the bank’s stock worth $232,000 after buying an additional 3,485 shares in the last quarter. New York State Common Retirement Fund boosted its holdings in Shore Bancshares by 79.6% during the third quarter. New York State Common Retirement Fund now owns 9,235 shares of the bank’s stock worth $97,000 after buying an additional 4,094 shares in the last quarter. Heritage Wealth Advisors bought a new stake in Shore Bancshares during the third quarter worth approximately $53,000. Barclays PLC boosted its stake in Shore Bancshares by 17.8% in the 3rd quarter. Barclays PLC now owns 53,049 shares of the bank’s stock worth $559,000 after purchasing an additional 8,025 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in Shore Bancshares by 85.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 20,930 shares of the bank’s stock worth $220,000 after purchasing an additional 9,665 shares during the period. Institutional investors and hedge funds own 59.76% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on SHBI. TheStreet lowered shares of Shore Bancshares from a “b-” rating to a “c+” rating in a research note on Thursday, February 29th. StockNews.com raised shares of Shore Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday, February 1st.

Shore Bancshares Trading Down 0.5 %

Shore Bancshares stock opened at $10.53 on Friday. The company has a 50 day moving average price of $10.99 and a 200 day moving average price of $11.82. The firm has a market capitalization of $349.70 million, a price-to-earnings ratio of 16.20 and a beta of 0.93. Shore Bancshares, Inc. has a 52 week low of $9.66 and a 52 week high of $14.51. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.92 and a current ratio of 0.92.

Shore Bancshares (NASDAQ:SHBI) last issued its earnings results on Wednesday, January 31st. The bank reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. The company had revenue of $49.15 million during the quarter, compared to analyst estimates of $51.20 million. Shore Bancshares had a net margin of 5.82% and a return on equity of 6.47%. Research analysts forecast that Shore Bancshares, Inc. will post 1.49 EPS for the current year.

Shore Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Shareholders of record on Monday, February 12th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.56%. The ex-dividend date of this dividend was Friday, February 9th. Shore Bancshares’s dividend payout ratio (DPR) is currently 73.85%.

Insider Buying and Selling at Shore Bancshares

In related news, Director David S. Jones bought 8,043 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was bought at an average price of $11.01 per share, with a total value of $88,553.43. Following the purchase, the director now directly owns 35,235 shares of the company’s stock, valued at approximately $387,937.35. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Shore Bancshares news, Director Dawn M. Willey purchased 10,000 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were acquired at an average price of $11.02 per share, for a total transaction of $110,200.00. Following the acquisition, the director now owns 17,500 shares of the company’s stock, valued at $192,850. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David S. Jones purchased 8,043 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were acquired at an average price of $11.01 per share, for a total transaction of $88,553.43. Following the acquisition, the director now directly owns 35,235 shares in the company, valued at approximately $387,937.35. The disclosure for this purchase can be found here. Insiders purchased 19,121 shares of company stock valued at $211,067 in the last quarter. Company insiders own 8.57% of the company’s stock.

Shore Bancshares 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.