23,166 Shares in Shore Bancshares Inc $SHBI Acquired by Dynamic Technology Lab Private Ltd

Key Points

• Dynamic Technology Lab Private Ltd has acquired 23,166 shares of Shore Bancshares Inc, valued at approximately $314,000, representing a 0.07% ownership in the bank.
• Shore Bancshares recently reported quarterly earnings of $0.51 per share, surpassing analysts' expectations of $0.41, with a revenue of $56.57 million.
• The firm declared a quarterly dividend of $0.12 per share, resulting in an annualized dividend yield of 2.8%, with a payout ratio of 29.81%.

Dynamic Technology Lab Private Ltd purchased a new position in Shore Bancshares Inc (NASDAQ:SHBI - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 23,166 shares of the bank's stock, valued at approximately $314,000. Dynamic Technology Lab Private Ltd owned 0.07% of Shore Bancshares at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Investment Management Corp VA ADV acquired a new stake in Shore Bancshares during the 4th quarter valued at $38,000. AlphaQuest LLC acquired a new stake in Shore Bancshares during the 1st quarter valued at $145,000. Stoneridge Investment Partners LLC acquired a new stake in Shore Bancshares during the 1st quarter valued at $158,000. Russell Investments Group Ltd. grew its holdings in Shore Bancshares by 52.6% during the 1st quarter. Russell Investments Group Ltd. now owns 12,590 shares of the bank's stock valued at $170,000 after buying an additional 4,339 shares during the last quarter. Finally, Occudo Quantitative Strategies LP acquired a new stake in Shore Bancshares during the 4th quarter valued at $179,000. Institutional investors and hedge funds own 59.76% of the company's stock.

Shore Bancshares Trading Down 1.0%

Shares of Shore Bancshares stock opened at $17.03 on Friday. Shore Bancshares Inc has a fifty-two week low of $11.47 and a fifty-two week high of $17.61. The firm has a market cap of $569.14 million, a PE ratio of 10.58 and a beta of 1.05. The business's fifty day moving average is $16.36 and its two-hundred day moving average is $14.88. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.22.

Shore Bancshares (NASDAQ:SHBI - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The bank reported $0.51 earnings per share for the quarter, topping analysts' consensus estimates of $0.41 by $0.10. Shore Bancshares had a return on equity of 10.98% and a net margin of 15.98%.The company had revenue of $56.57 million for the quarter, compared to analyst estimates of $53.77 million. Analysts anticipate that Shore Bancshares Inc will post 1.59 earnings per share for the current year.

Shore Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 25th. Shareholders of record on Monday, August 11th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Monday, August 11th. Shore Bancshares's dividend payout ratio is currently 29.81%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded Shore Bancshares from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $20.00.

Insider Buying and Selling at Shore Bancshares

In other Shore Bancshares news, Director Michael Brian Adams purchased 10,000 shares of Shore Bancshares stock in a transaction on Friday, August 1st. The shares were bought at an average price of $15.00 per share, with a total value of $150,000.00. Following the purchase, the director directly owned 44,912 shares in the company, valued at $673,680. This trade represents a 28.64% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 8.69% of the stock is currently owned by corporate insiders.

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.

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