Raymond James Financial Inc. Buys Shares of 17,633 Shore Bancshares, Inc. (NASDAQ:SHBI)

Raymond James Financial Inc. bought a new position in shares of Shore Bancshares, Inc. (NASDAQ:SHBI - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 17,633 shares of the bank's stock, valued at approximately $279,000. Raymond James Financial Inc. owned 0.05% of Shore Bancshares as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Barclays PLC boosted its holdings in shares of Shore Bancshares by 48.2% during the third quarter. Barclays PLC now owns 84,942 shares of the bank's stock worth $1,189,000 after acquiring an additional 27,627 shares during the period. JPMorgan Chase & Co. lifted its holdings in Shore Bancshares by 61.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 21,078 shares of the bank's stock worth $295,000 after purchasing an additional 7,994 shares during the last quarter. SG Americas Securities LLC boosted its stake in Shore Bancshares by 24.5% in the 4th quarter. SG Americas Securities LLC now owns 13,871 shares of the bank's stock valued at $220,000 after purchasing an additional 2,734 shares during the period. Janney Montgomery Scott LLC grew its holdings in Shore Bancshares by 10.0% in the 4th quarter. Janney Montgomery Scott LLC now owns 21,741 shares of the bank's stock valued at $345,000 after buying an additional 1,984 shares in the last quarter. Finally, Proficio Capital Partners LLC bought a new stake in shares of Shore Bancshares during the 4th quarter valued at approximately $392,000. Institutional investors and hedge funds own 59.76% of the company's stock.

Wall Street Analyst Weigh In

Separately, Piper Sandler began 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 on the stock.

Shore Bancshares Trading Down 0.7%

Shore Bancshares stock traded down $0.10 during trading hours on Wednesday, hitting $14.96. The stock had a trading volume of 102,857 shares, compared to its average volume of 125,537. The business's 50 day simple moving average is $13.34 and its 200-day simple moving average is $15.00. Shore Bancshares, Inc. has a one year low of $10.36 and a one year high of $17.61. The stock has a market cap of $499.28 million, a price-to-earnings ratio of 11.25 and a beta of 0.93. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.23.

Shore Bancshares (NASDAQ:SHBI - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The bank reported $0.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.35 by $0.10. Shore Bancshares had a net margin of 13.44% and a return on equity of 10.40%. The business had revenue of $53.03 million during the quarter, compared to analyst estimates of $50.78 million. On average, equities analysts predict that Shore Bancshares, Inc. will post 1.59 EPS for the current fiscal year.

Shore Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Monday, May 12th will be paid a $0.12 dividend. The ex-dividend date is Monday, May 12th. This represents a $0.48 annualized dividend and a dividend yield of 3.21%. Shore Bancshares's dividend payout ratio is 32.21%.

Insider Buying and Selling

In related news, Director Konrad Wayson bought 5,000 shares of the business's stock in a transaction on Friday, May 2nd. The shares were purchased at an average cost of $14.25 per share, with a total value of $71,250.00. Following the acquisition, the director now owns 59,328 shares of the company's stock, valued at $845,424. This represents a 9.20% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.69% of the stock is currently owned by insiders.

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.