26,801 Shares in Shore Bancshares Inc $SHBI Bought by Quantbot Technologies LP

Key Points

• Quantbot Technologies LP has acquired a new stake in Shore Bancshares Inc, purchasing 26,801 shares valued at approximately $363,000, which represents 0.08% of the company's total shares.
• Shore Bancshares received a buy rating from Wall Street Zen, with a consensus target price of $20.00 as analysts predict growth for the bank.
• The company recently declared a quarterly dividend of $0.12 per share, resulting in an annualized yield of 2.8%, with a dividend payout ratio of 29.81%.

Quantbot Technologies LP bought 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 disclosure with the Securities & Exchange Commission. The firm bought 26,801 shares of the bank's stock, valued at approximately $363,000. Quantbot Technologies LP owned 0.08% of Shore Bancshares at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Nuveen LLC acquired a new stake in Shore Bancshares in the first quarter valued at approximately $3,716,000. American Century Companies Inc. grew its stake in Shore Bancshares by 26.6% in the first quarter. American Century Companies Inc. now owns 594,103 shares of the bank's stock valued at $8,044,000 after acquiring an additional 124,921 shares during the period. Segall Bryant & Hamill LLC acquired a new stake in Shore Bancshares in the first quarter valued at approximately $1,644,000. Hoxton Planning & Management LLC acquired a new stake in Shore Bancshares in the first quarter valued at approximately $882,000. Finally, Wellington Management Group LLP grew its stake in Shore Bancshares by 59.4% in the fourth quarter. Wellington Management Group LLP now owns 170,444 shares of the bank's stock valued at $2,702,000 after acquiring an additional 63,539 shares during the period. Institutional investors and hedge funds own 59.76% of the company's stock.

Analyst Ratings Changes

Separately, Wall Street Zen raised 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 data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $20.00.

Insider Buying and Selling

In other Shore Bancshares news, Director Michael Brian Adams purchased 10,000 shares of the company's stock in a transaction that occurred on Friday, August 1st. The shares were acquired at an average cost of $15.00 per share, for a total transaction of $150,000.00. Following the completion of the acquisition, the director owned 44,912 shares of the company's stock, valued at $673,680. The trade was a 28.64% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 8.69% of the company's stock.

Shore Bancshares Stock Up 0.5%

Shares of SHBI stock traded up $0.08 during trading hours on Friday, reaching $17.19. The company had a trading volume of 146,016 shares, compared to its average volume of 121,040. Shore Bancshares Inc has a 12 month low of $11.47 and a 12 month high of $17.61. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.94 and a quick ratio of 0.94. The business has a fifty day simple moving average of $16.12 and a 200-day simple moving average of $14.81. The company has a market cap of $574.49 million, a price-to-earnings ratio of 10.68 and a beta of 1.04.

Shore Bancshares (NASDAQ:SHBI - Get Free Report) last posted its earnings results on Thursday, July 24th. The bank reported $0.51 earnings per share for the quarter, beating 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. On average, research analysts expect that Shore Bancshares Inc will post 1.59 earnings per share for the current fiscal year.

Shore Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 25th. Investors of record on Monday, August 11th were issued a dividend of $0.12 per share. 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 29.81%.

Shore Bancshares 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.