SG Americas Securities LLC Acquires Shares of 11,137 Shore Bancshares, Inc. (NASDAQ:SHBI)

SG Americas Securities LLC bought a new position in Shore Bancshares, Inc. (NASDAQ:SHBI) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 11,137 shares of the bank’s stock, valued at approximately $156,000.

Other institutional investors have also recently made changes to their positions in the company. AQR Capital Management LLC purchased a new position in Shore Bancshares during the second quarter worth about $147,000. Quadrature Capital Ltd bought a new position in shares of Shore Bancshares during the 1st quarter worth approximately $200,000. Diversify Advisory Services LLC purchased a new position in shares of Shore Bancshares in the 1st quarter worth approximately $216,000. Black Maple Capital Management LP grew its holdings in shares of Shore Bancshares by 20.0% in the first quarter. Black Maple Capital Management LP now owns 30,028 shares of the bank’s stock valued at $345,000 after acquiring an additional 5,000 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its position in shares of Shore Bancshares by 428.0% during the first quarter. BNP Paribas Financial Markets now owns 42,829 shares of the bank’s stock valued at $493,000 after acquiring an additional 34,717 shares during the last quarter. Institutional investors own 59.76% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on SHBI shares. Janney Montgomery Scott downgraded Shore Bancshares from a “buy” rating to a “neutral” rating in a research note on Tuesday, July 30th. Keefe, Bruyette & Woods increased their price target on shares of Shore Bancshares from $13.00 to $15.00 and gave the company a “market perform” rating in a research report on Friday, July 26th.

Shore Bancshares Stock Performance

Shares of SHBI stock opened at $14.44 on Friday. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.29. The firm has a market cap of $479.75 million, a P/E ratio of 24.90 and a beta of 0.96. The company has a 50 day moving average of $13.93 and a 200-day moving average of $12.40. Shore Bancshares, Inc. has a 12-month low of $9.66 and a 12-month high of $14.99.

Shore Bancshares (NASDAQ:SHBI) last released its earnings results on Thursday, July 25th. The bank reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.06. Shore Bancshares had a return on equity of 8.37% and a net margin of 7.18%. The business had revenue of $50.66 million during the quarter. Sell-side analysts anticipate that Shore Bancshares, Inc. will post 1.5 earnings per share for the current year.

Shore Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 12th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 3.32%. The ex-dividend date was Monday, August 12th. Shore Bancshares’s dividend payout ratio (DPR) is currently 82.76%.

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.