Quantbot Technologies LP Makes New $363,000 Investment in Shore Bancshares Inc $SHBI

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 Shore Bancshares Inc (NASDAQ:SHBI - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 26,801 shares of the bank's stock, valued at approximately $363,000. Quantbot Technologies LP owned about 0.08% of Shore Bancshares at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of SHBI. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Shore Bancshares by 3.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,446 shares of the bank's stock worth $277,000 after purchasing an additional 609 shares during the period. CWM LLC increased its position in shares of Shore Bancshares by 1.4% during the first quarter. CWM LLC now owns 59,878 shares of the bank's stock valued at $811,000 after acquiring an additional 843 shares during the last quarter. Investment Management Corp VA ADV acquired a new position in shares of Shore Bancshares during the fourth quarter worth about $38,000. Invesco Ltd. grew its position in shares of Shore Bancshares by 9.1% during the fourth quarter. Invesco Ltd. now owns 50,622 shares of the bank's stock worth $802,000 after buying an additional 4,230 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in shares of Shore Bancshares by 29.0% during the 4th quarter. Wells Fargo & Company MN now owns 19,253 shares of the bank's stock worth $305,000 after acquiring an additional 4,329 shares in the last quarter. 59.76% of the stock is currently owned by institutional investors.

Shore Bancshares Stock Up 0.5%

NASDAQ:SHBI traded up $0.08 during mid-day trading on Monday, reaching $17.19. The stock had a trading volume of 146,016 shares, compared to its average volume of 118,583. The company has a market capitalization of $574.49 million, a price-to-earnings ratio of 10.68 and a beta of 1.05. Shore Bancshares Inc has a 1-year low of $11.47 and a 1-year high of $17.61. The stock's 50 day simple moving average is $16.16 and its two-hundred day simple moving average is $14.79. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.94 and a quick ratio of 0.94.

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

Shore Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 25th. Investors of record on Monday, August 11th were issued 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 is currently 29.81%.

Insiders Place Their Bets

In other news, Director Michael Brian Adams bought 10,000 shares of the stock in a transaction on Friday, August 1st. The stock was purchased at an average price of $15.00 per share, for a total transaction of $150,000.00. Following the acquisition, the director owned 44,912 shares in the company, valued at approximately $673,680. This trade represents a 28.64% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 8.57% of the company's stock.

Wall Street Analyst Weigh In

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

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.