EntryPoint Capital LLC Takes $250,000 Position in Shore Bancshares Inc $SHBI

Key Points

• EntryPoint Capital LLC has acquired a new stake in Shore Bancshares Inc, investing approximately $250,000 for 18,459 shares, bringing their total ownership to 0.06% of the company.
• Shore Bancshares reported earnings of $0.51 per share for the last quarter, surpassing expectations, and disclosed a dividend of $0.12, with a yield of 2.9%.
• Wall Street analysts have upgraded Shore Bancshares from a "hold" to a "buy" rating, with an average target price of $20.00 for the stock.

EntryPoint Capital LLC acquired a new position in shares of Shore Bancshares Inc (NASDAQ:SHBI - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 18,459 shares of the bank's stock, valued at approximately $250,000. EntryPoint Capital LLC owned about 0.06% of Shore Bancshares as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the business. Investment Management Corp VA ADV bought a new stake in shares of Shore Bancshares in the 4th quarter valued at approximately $38,000. Russell Investments Group Ltd. grew its stake in shares of Shore Bancshares by 43,326.3% in the 4th quarter. Russell Investments Group Ltd. now owns 8,251 shares of the bank's stock valued at $131,000 after purchasing an additional 8,232 shares during the period. Occudo Quantitative Strategies LP bought a new stake in shares of Shore Bancshares in the 4th quarter valued at approximately $179,000. Jump Financial LLC bought a new stake in shares of Shore Bancshares in the 4th quarter valued at approximately $201,000. Finally, Bailard Inc. bought a new stake in shares of Shore Bancshares in the 1st quarter valued at approximately $210,000. Institutional investors and hedge funds own 59.76% of the company's stock.

Wall Street Analyst Weigh In

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

Shore Bancshares Price Performance

NASDAQ SHBI traded up $0.08 during trading hours on Friday, reaching $17.19. 19,527 shares of the company's stock were exchanged, compared to its average volume of 169,984. The stock has a market cap of $574.49 million, a PE ratio of 10.67 and a beta of 1.04. Shore Bancshares Inc has a one year low of $11.47 and a one year high of $17.61. The firm has a fifty day moving average of $16.07 and a 200-day moving average of $14.81. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.22.

Shore Bancshares (NASDAQ:SHBI - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The bank reported $0.51 EPS for the quarter, beating analysts' consensus estimates of $0.41 by $0.10. The firm had revenue of $56.57 million for the quarter, compared to analyst estimates of $53.77 million. Shore Bancshares had a return on equity of 10.98% and a net margin of 15.98%. On average, equities research analysts predict that Shore Bancshares Inc will post 1.59 earnings per share for the current fiscal year.

Shore Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 25th. Shareholders of record on Monday, August 11th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date was Monday, August 11th. Shore Bancshares's dividend payout ratio (DPR) is presently 29.81%.

Insider Buying and Selling

In other news, Director Michael Brian Adams acquired 10,000 shares of the firm's stock in a transaction on Friday, August 1st. The shares were purchased at an average cost of $15.00 per share, for a total transaction of $150,000.00. Following the transaction, the director owned 44,912 shares of the company's stock, valued at approximately $673,680. This represents a 28.64% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 8.69% of the company's stock.

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.