XTX Topco Ltd purchased a new position in Shore Bancshares Inc (NASDAQ:SHBI - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 38,759 shares of the bank's stock, valued at approximately $525,000. XTX Topco Ltd owned approximately 0.12% of Shore Bancshares at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Investment Management Corp VA ADV bought a new position in Shore Bancshares in the fourth quarter worth about $38,000. Russell Investments Group Ltd. raised its stake in Shore Bancshares by 43,326.3% in the fourth quarter. Russell Investments Group Ltd. now owns 8,251 shares of the bank's stock worth $131,000 after buying an additional 8,232 shares in the last quarter. Occudo Quantitative Strategies LP bought a new position in shares of Shore Bancshares during the fourth quarter valued at approximately $179,000. Jump Financial LLC bought a new position in shares of Shore Bancshares during the fourth quarter valued at approximately $201,000. Finally, Bailard Inc. bought a new position in shares of Shore Bancshares during the first quarter valued at approximately $210,000. 59.76% of the stock is owned by institutional investors.
Analyst Ratings Changes
Separately, Wall Street Zen raised shares of Shore Bancshares from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th.
Check Out Our Latest Research Report on Shore Bancshares
Insider Transactions at Shore Bancshares
In related news, Director Michael Brian Adams bought 10,000 shares of the company's stock in a transaction that occurred on Friday, August 1st. The shares were bought at an average price 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. This trade represents a 28.64% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have purchased a total of 11,250 shares of company stock valued at $168,218 in the last 90 days. Company insiders own 8.69% of the company's stock.
Shore Bancshares Stock Up 1.3%
SHBI stock traded up $0.19 during midday trading on Friday, hitting $15.37. The company's stock had a trading volume of 106,289 shares, compared to its average volume of 140,659. The company has a market cap of $512.96 million, a PE ratio of 9.55 and a beta of 1.04. Shore Bancshares Inc has a 12 month low of $11.47 and a 12 month high of $17.61. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.22. The firm's 50-day moving average is $15.64 and its 200-day moving average is $14.78.
Shore Bancshares (NASDAQ:SHBI - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The bank reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.10. Shore Bancshares had a return on equity of 11.10% and a net margin of 15.98%. The business had revenue of $56.57 million for the quarter, compared to analysts' expectations of $53.77 million. On average, equities research analysts forecast that Shore Bancshares Inc will post 1.59 earnings per share for the current fiscal year.
Shore Bancshares Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, August 25th. Investors of record on Monday, August 11th will be issued a $0.12 dividend. The ex-dividend date is Monday, August 11th. This represents a $0.48 annualized dividend and a yield of 3.1%. Shore Bancshares's dividend payout ratio (DPR) is currently 29.81%.
Shore Bancshares Profile
(
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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