Shore Bancshares, Inc. (NASDAQ:SHBI) Director Dawn M. Willey Buys 1,000 Shares

Shore Bancshares, Inc. (NASDAQ:SHBI - Get Free Report) Director Dawn M. Willey purchased 1,000 shares of the company's stock in a transaction that occurred on Friday, May 30th. The stock was purchased at an average price of $14.58 per share, for a total transaction of $14,580.00. Following the purchase, the director now owns 17,591 shares in the company, valued at $256,476.78. This represents a 6.03% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Shore Bancshares Stock Up 2.3%

Shares of SHBI stock traded up $0.33 during mid-day trading on Friday, hitting $14.79. The company's stock had a trading volume of 83,813 shares, compared to its average volume of 175,691. Shore Bancshares, Inc. has a 52-week low of $10.36 and a 52-week high of $17.61. The business has a 50-day moving average price of $13.66 and a 200 day moving average price of $14.91. The stock has a market cap of $493.60 million, a price-to-earnings ratio of 11.12 and a beta of 0.93. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.93 and a current ratio of 0.94.

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

Shore Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 12th were paid a dividend of $0.12 per share. The ex-dividend date was Monday, May 12th. This represents a $0.48 dividend on an annualized basis and a yield of 3.25%. Shore Bancshares's dividend payout ratio is presently 32.21%.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Shore Bancshares

Several hedge funds and other institutional investors have recently modified their holdings of SHBI. Proficio Capital Partners LLC purchased a new stake in Shore Bancshares during the fourth quarter valued at $392,000. Man Group plc bought a new stake in shares of Shore Bancshares during the 4th quarter valued at about $541,000. American Century Companies Inc. increased its position in shares of Shore Bancshares by 45.7% during the 4th quarter. American Century Companies Inc. now owns 469,182 shares of the bank's stock valued at $7,437,000 after purchasing an additional 147,148 shares during the last quarter. Hillsdale Investment Management Inc. bought a new position in shares of Shore Bancshares in the 4th quarter worth approximately $2,645,000. Finally, Raymond James Financial Inc. purchased a new position in shares of Shore Bancshares in the fourth quarter worth approximately $279,000. 59.76% of the stock is owned by institutional investors.

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.