Shore Bancshares, Inc. (NASDAQ:SHBI) Shares Sold by Fourthstone LLC

Fourthstone LLC decreased its holdings in Shore Bancshares, Inc. (NASDAQ:SHBI - Free Report) by 10.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,968,891 shares of the bank's stock after selling 361,031 shares during the quarter. Shore Bancshares accounts for about 9.2% of Fourthstone LLC's portfolio, making the stock its 3rd largest holding. Fourthstone LLC owned approximately 8.91% of Shore Bancshares worth $47,057,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in SHBI. Russell Investments Group Ltd. boosted its stake in Shore Bancshares by 43,326.3% during the fourth quarter. Russell Investments Group Ltd. now owns 8,251 shares of the bank's stock worth $131,000 after acquiring an additional 8,232 shares in the last quarter. Jump Financial LLC purchased a new stake in Shore Bancshares during the fourth quarter valued at approximately $201,000. SG Americas Securities LLC raised its position in Shore Bancshares by 24.5% during the 4th quarter. SG Americas Securities LLC now owns 13,871 shares of the bank's stock worth $220,000 after buying an additional 2,734 shares during the last quarter. LPL Financial LLC purchased a new position in shares of Shore Bancshares in the 4th quarter valued at about $270,000. Finally, Raymond James Financial Inc. purchased a new position in shares of Shore Bancshares in the fourth quarter worth about $279,000. 59.76% of the stock is currently owned by institutional investors and hedge funds.

Shore Bancshares Stock Performance

SHBI traded up $0.37 during midday trading on Tuesday, reaching $12.76. The company's stock had a trading volume of 39,499 shares, compared to its average volume of 121,211. The company has a fifty day simple moving average of $13.79 and a 200 day simple moving average of $15.02. The stock has a market cap of $425.85 million, a P/E ratio of 9.60 and a beta of 0.86. Shore Bancshares, Inc. has a twelve month low of $10.31 and a twelve month high of $17.61. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.23.

Shore Bancshares (NASDAQ:SHBI - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The bank reported $0.44 earnings per share for the quarter, topping the consensus estimate 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 expect that Shore Bancshares, Inc. will post 1.59 earnings per share for the current year.

Shore Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 27th. Stockholders of record on Thursday, February 13th were issued a dividend of $0.12 per share. The ex-dividend date was Thursday, February 13th. This represents a $0.48 annualized dividend and a dividend yield of 3.76%. Shore Bancshares's payout ratio is 36.09%.

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 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.