Cubist Systematic Strategies LLC grew its holdings in Shore Bancshares, Inc. (NASDAQ:SHBI - Free Report) by 80.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 40,396 shares of the bank's stock after purchasing an additional 17,948 shares during the period. Cubist Systematic Strategies LLC owned approximately 0.12% of Shore Bancshares worth $640,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of SHBI. Russell Investments Group Ltd. grew its stake in Shore Bancshares by 43,326.3% in the 4th quarter. Russell Investments Group Ltd. now owns 8,251 shares of the bank's stock worth $131,000 after buying an additional 8,232 shares in the last quarter. Jump Financial LLC bought a new stake in Shore Bancshares during the 4th quarter valued at $201,000. SG Americas Securities LLC raised its holdings in 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 buying an additional 2,734 shares during the last quarter. LPL Financial LLC bought a new position in Shore Bancshares in the 4th quarter worth $270,000. Finally, Raymond James Financial Inc. bought a new position in Shore Bancshares in the 4th quarter worth $279,000. Institutional investors own 59.76% of the company's stock.
Analyst Upgrades and Downgrades
Separately, Piper Sandler initiated coverage on shares of Shore Bancshares in a research report on Thursday, February 6th. They set an "overweight" rating and a $20.00 price objective on the stock.
Read Our Latest Stock Report on SHBI
Shore Bancshares Stock Performance
Shares of NASDAQ SHBI opened at $15.06 on Friday. The firm's 50-day moving average price is $13.39 and its 200-day moving average price is $15.01. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.23. The company has a market cap of $502.61 million, a PE ratio of 11.32 and a beta of 0.93. Shore Bancshares, Inc. has a 52-week low of $10.36 and a 52-week high of $17.61.
Shore Bancshares (NASDAQ:SHBI - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The bank reported $0.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.35 by $0.10. The company had revenue of $53.03 million for the quarter, compared to the consensus estimate of $50.78 million. Shore Bancshares had a net margin of 13.44% and a return on equity of 10.40%. As a group, analysts anticipate that Shore Bancshares, Inc. will post 1.59 EPS for the current year.
Shore Bancshares Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Monday, May 12th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date is Monday, May 12th. Shore Bancshares's payout ratio is 32.21%.
Insiders Place Their Bets
In related news, Director Konrad Wayson bought 5,000 shares of the stock in a transaction dated Friday, May 2nd. The shares were purchased at an average price of $14.25 per share, with a total value of $71,250.00. Following the completion of the acquisition, the director now owns 59,328 shares of the company's stock, valued at $845,424. This represents a 9.20% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 8.69% of the stock is owned by company insiders.
Shore Bancshares Company Profile
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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.
See Also
Want to see what other hedge funds are holding SHBI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Shore Bancshares, Inc. (NASDAQ:SHBI - Free Report).
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