Shore Bancshares, Inc. (NASDAQ:SHBI) Director Purchases $110,200.00 in Stock

Shore Bancshares, Inc. (NASDAQ:SHBIGet Free Report) Director Dawn M. Willey bought 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was purchased at an average price of $11.02 per share, for a total transaction of $110,200.00. Following the transaction, the director now owns 17,500 shares of the company’s stock, valued at $192,850. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Shore Bancshares Trading Up 0.4 %

Shares of SHBI stock opened at $11.35 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.91 and a quick ratio of 0.91. The company has a market cap of $376.25 million, a price-to-earnings ratio of 17.46 and a beta of 0.97. The stock has a 50 day simple moving average of $12.87 and a 200-day simple moving average of $11.81. Shore Bancshares, Inc. has a 1-year low of $9.66 and a 1-year high of $17.23.

Shore Bancshares (NASDAQ:SHBIGet Free Report) last announced its earnings results on Wednesday, January 31st. The bank reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.01. The business had revenue of $49.15 million during the quarter, compared to the consensus estimate of $51.20 million. Shore Bancshares had a return on equity of 6.87% and a net margin of 5.82%. On average, equities research analysts expect that Shore Bancshares, Inc. will post 1.49 EPS for the current fiscal year.

Shore Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 29th. Investors of record on Monday, February 12th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 4.23%. The ex-dividend date of this dividend is Friday, February 9th. Shore Bancshares’s dividend payout ratio is currently 73.85%.

Analysts Set New Price Targets

A number of brokerages recently commented on SHBI. TheStreet upgraded Shore Bancshares from a “c” rating to a “b-” rating in a research report on Wednesday, January 31st. StockNews.com raised Shore Bancshares from a “sell” rating to a “hold” rating in a report on Thursday, February 1st.

Get Our Latest Analysis on SHBI

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in Shore Bancshares by 29.2% in the 2nd quarter. BlackRock Inc. now owns 2,249,043 shares of the bank’s stock valued at $25,999,000 after purchasing an additional 508,881 shares during the last quarter. Vanguard Group Inc. grew its holdings in Shore Bancshares by 3.7% in the 4th quarter. Vanguard Group Inc. now owns 1,608,061 shares of the bank’s stock valued at $22,915,000 after buying an additional 57,557 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in Shore Bancshares by 98.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,103,909 shares of the bank’s stock valued at $11,613,000 after buying an additional 546,605 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Shore Bancshares by 5.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,044,671 shares of the bank’s stock valued at $14,887,000 after buying an additional 50,356 shares in the last quarter. 64.77% of the stock is owned by institutional investors and hedge funds.

About Shore Bancshares

(Get Free Report)

Shore Bancshares, Inc operates as a bank holding company for the Shore United Bank 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.

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Insider Buying and Selling by Quarter for Shore Bancshares (NASDAQ:SHBI)

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