Man Group plc purchased a new position in shares of Shore Bancshares, Inc. (NASDAQ:SHBI - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 34,103 shares of the bank's stock, valued at approximately $541,000. Man Group plc owned 0.10% of Shore Bancshares as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Russell Investments Group Ltd. raised its stake in Shore Bancshares by 43,326.3% during the fourth quarter. Russell Investments Group Ltd. now owns 8,251 shares of the bank's stock worth $131,000 after purchasing an additional 8,232 shares during the period. Occudo Quantitative Strategies LP purchased a new position in shares of Shore Bancshares in the 4th quarter valued at $179,000. Jump Financial LLC purchased a new position in shares of Shore Bancshares in the 4th quarter valued at $201,000. SG Americas Securities LLC raised its stake in shares of Shore Bancshares by 24.5% in the 4th quarter. SG Americas Securities LLC now owns 13,871 shares of the bank's stock valued at $220,000 after acquiring an additional 2,734 shares during the period. Finally, LPL Financial LLC purchased a new position in shares of Shore Bancshares in the 4th quarter valued at $270,000. Hedge funds and other institutional investors own 59.76% of the company's stock.
Analyst Upgrades and Downgrades
Separately, Piper Sandler assumed coverage on shares of Shore Bancshares in a research note on Thursday, February 6th. They issued an "overweight" rating and a $20.00 target price on the stock.
Check Out Our Latest Stock Analysis on SHBI
Shore Bancshares Trading Up 0.2%
Shares of SHBI stock traded up $0.03 during mid-day trading on Thursday, reaching $14.51. The company's stock had a trading volume of 37,337 shares, compared to its average volume of 126,642. The company's 50 day simple moving average is $13.57 and its 200-day simple moving average is $14.98. Shore Bancshares, Inc. has a 12-month low of $10.36 and a 12-month high of $17.61. 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 firm has a market capitalization of $484.09 million, a PE ratio of 10.91 and a beta of 0.93.
Shore Bancshares (NASDAQ:SHBI - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The bank reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.10. Shore Bancshares had a net margin of 13.44% and a return on equity of 10.40%. The firm had revenue of $53.03 million for the quarter, compared to the consensus estimate of $50.78 million. On average, research analysts predict that Shore Bancshares, Inc. will post 1.59 EPS for the current fiscal year.
Shore Bancshares Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 12th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 3.31%. The ex-dividend date was Monday, May 12th. Shore Bancshares's dividend payout ratio (DPR) is 32.21%.
Insider Buying and Selling
In other news, Director Konrad Wayson purchased 5,000 shares of the company's stock in a transaction that occurred on 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 purchase, the director now directly owns 59,328 shares of the company's stock, valued at approximately $845,424. This represents a 9.20% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 8.57% of the stock is currently owned by 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.
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