Dynamic Technology Lab Private Ltd Invests $314,000 in Shore Bancshares Inc $SHBI

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 acquired a new position in shares of Shore Bancshares Inc (NASDAQ:SHBI - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 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.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Investment Management Corp VA ADV bought a new position in shares of Shore Bancshares in the fourth quarter worth $38,000. AlphaQuest LLC acquired a new stake in Shore Bancshares during the first quarter worth about $145,000. Occudo Quantitative Strategies LP bought a new position in Shore Bancshares in the 4th quarter valued at about $179,000. Stoneridge Investment Partners LLC bought a new position in Shore Bancshares in the 1st quarter valued at about $158,000. Finally, Russell Investments Group Ltd. raised its position in shares of Shore Bancshares by 52.6% in 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 in the last quarter. 59.76% of the stock is owned by institutional investors and hedge funds.

Shore Bancshares Trading Up 2.4%

Shore Bancshares stock traded up $0.41 during trading hours on Thursday, hitting $17.45. The stock had a trading volume of 151,479 shares, compared to its average volume of 115,985. The business's 50 day simple moving average is $16.40 and its 200-day simple moving average is $14.94. Shore Bancshares Inc has a one year low of $11.47 and a one year high of $17.61. The stock has a market cap of $583.18 million, a price-to-earnings ratio of 10.84 and a beta of 1.05. 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 released its quarterly earnings data on Thursday, July 24th. The bank reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.10. The company had revenue of $56.57 million during the quarter, compared to the consensus estimate of $53.77 million. Shore Bancshares had a return on equity of 10.98% and a net margin of 15.98%. On average, equities analysts predict that Shore Bancshares Inc will post 1.59 EPS for the current fiscal year.

Shore Bancshares Announces Dividend

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

Analyst Upgrades and Downgrades

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

Insider Activity at Shore Bancshares

In other Shore Bancshares news, Director Michael Brian Adams acquired 10,000 shares of Shore Bancshares stock in a transaction that occurred 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 completion of 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 document filed with the SEC, which is available at the SEC website. Company insiders own 8.69% of the company's stock.

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.