Shore Bancshares Inc $SHBI Shares Bought by Jump Financial LLC

Key Points

• Jump Financial LLC increased its holdings in Shore Bancshares Inc by 242.1% in the first quarter, owning approximately 0.13% of the company's stock valued at $588,000.
• Shore Bancshares reported earnings per share (EPS) of $0.51 for the last quarter, exceeding the consensus estimate of $0.41, with revenue also surpassing expectations at $56.57 million.
• The company declared a quarterly dividend of $0.12 per share, translating to an annualized dividend yield of 2.8%.

Jump Financial LLC lifted its stake in Shore Bancshares Inc (NASDAQ:SHBI - Free Report) by 242.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 43,445 shares of the bank's stock after purchasing an additional 30,745 shares during the period. Jump Financial LLC owned about 0.13% of Shore Bancshares worth $588,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Investment Management Corp VA ADV purchased a new stake in Shore Bancshares during the 4th quarter worth about $38,000. AlphaQuest LLC purchased a new stake in Shore Bancshares during the 1st quarter worth about $145,000. Stoneridge Investment Partners LLC purchased a new stake in Shore Bancshares during the 1st quarter worth about $158,000. Russell Investments Group Ltd. lifted its holdings in Shore Bancshares by 52.6% during the 1st quarter. Russell Investments Group Ltd. now owns 12,590 shares of the bank's stock worth $170,000 after buying an additional 4,339 shares during the last quarter. Finally, Occudo Quantitative Strategies LP purchased a new stake in Shore Bancshares during the 4th quarter worth about $179,000. 59.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Insider Transactions at Shore Bancshares

In related 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 purchased at an average price of $15.00 per share, for a total transaction of $150,000.00. Following the transaction, the director directly owned 44,912 shares of the company's stock, valued at approximately $673,680. The trade was a 28.64% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 8.57% of the stock is owned by company insiders.

Shore Bancshares Stock Performance

Shares of SHBI traded up $0.22 during midday trading on Thursday, reaching $17.14. 55,717 shares of the stock were exchanged, compared to its average volume of 169,876. The business's 50-day moving average price is $16.23 and its 200 day moving average price is $14.82. 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 Inc has a twelve month low of $11.47 and a twelve month high of $17.61. The company has a market capitalization of $572.82 million, a price-to-earnings ratio of 10.65 and a beta of 1.05.

Shore Bancshares (NASDAQ:SHBI - Get Free Report) last posted its earnings results on Thursday, July 24th. The bank reported $0.51 EPS for the quarter, topping analysts' consensus estimates of $0.41 by $0.10. The business had revenue of $56.57 million for the quarter, compared to analysts' expectations of $53.77 million. Shore Bancshares had a return on equity of 10.98% and a net margin of 15.98%. On average, sell-side analysts expect that Shore Bancshares Inc will post 1.59 EPS for the current fiscal year.

Shore Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 25th. Investors of record on Monday, August 11th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 2.8%. The ex-dividend date was Monday, August 11th. Shore Bancshares's payout ratio 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.