Shore Bancshares, Inc. (NASDAQ:SHBI) Shares Purchased by Mendon Capital Advisors Corp

Mendon Capital Advisors Corp boosted its position in shares of Shore Bancshares, Inc. (NASDAQ:SHBI - Free Report) by 21.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 231,838 shares of the bank's stock after buying an additional 41,127 shares during the quarter. Shore Bancshares makes up 1.8% of Mendon Capital Advisors Corp's holdings, making the stock its 18th biggest position. Mendon Capital Advisors Corp owned about 0.70% of Shore Bancshares worth $3,658,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. grew its position in shares of Shore Bancshares by 43,326.3% in the fourth 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. Jump Financial LLC purchased a new stake in Shore Bancshares during the 4th quarter worth approximately $201,000. SG Americas Securities LLC lifted its position in shares of Shore Bancshares by 24.5% in the fourth quarter. SG Americas Securities LLC now owns 13,871 shares of the bank's stock valued at $220,000 after acquiring an additional 2,734 shares in the last quarter. LPL Financial LLC acquired a new stake in shares of Shore Bancshares in the fourth quarter worth approximately $270,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Shore Bancshares during the fourth quarter worth approximately $279,000. Hedge funds and other institutional investors own 59.76% of the company's stock.

Analyst Ratings Changes

Separately, Piper Sandler started coverage on shares of Shore Bancshares in a research report on Thursday, February 6th. They issued an "overweight" rating and a $20.00 target price for the company.

Shore Bancshares Trading Down 0.6 %

Shares of SHBI traded down $0.08 during midday trading on Friday, reaching $13.09. The company had a trading volume of 92,452 shares, compared to its average volume of 122,687. The firm has a 50 day simple moving average of $13.52 and a 200-day simple moving average of $15.00. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.23. The stock has a market cap of $436.87 million, a PE ratio of 9.84 and a beta of 0.86. Shore Bancshares, Inc. has a 1-year low of $10.31 and a 1-year high of $17.61.

Shore Bancshares (NASDAQ:SHBI - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The bank reported $0.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.35 by $0.09. Shore Bancshares had a net margin of 13.44% and a return on equity of 10.40%. Research analysts forecast that Shore Bancshares, Inc. will post 1.59 EPS for the current fiscal year.

Shore Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 27th. Shareholders of record on Thursday, February 13th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date of this dividend was Thursday, February 13th. Shore Bancshares's dividend payout ratio (DPR) is 36.09%.

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.