SG Americas Securities LLC Buys 2,734 Shares of Shore Bancshares, Inc. (NASDAQ:SHBI)

SG Americas Securities LLC lifted its stake in shares of Shore Bancshares, Inc. (NASDAQ:SHBI) by 24.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,871 shares of the bank’s stock after buying an additional 2,734 shares during the period. SG Americas Securities LLC’s holdings in Shore Bancshares were worth $220,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. AQR Capital Management LLC acquired a new position in Shore Bancshares in the 2nd quarter worth about $147,000. Creative Planning increased its stake in shares of Shore Bancshares by 30.6% in the third quarter. Creative Planning now owns 37,674 shares of the bank’s stock valued at $527,000 after buying an additional 8,831 shares during the period. Assenagon Asset Management S.A. raised its holdings in Shore Bancshares by 9.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 48,706 shares of the bank’s stock valued at $681,000 after buying an additional 4,312 shares during the last quarter. Curi RMB Capital LLC boosted its position in Shore Bancshares by 13.8% during the 3rd quarter. Curi RMB Capital LLC now owns 175,164 shares of the bank’s stock worth $2,451,000 after buying an additional 21,191 shares during the period. Finally, Thrivent Financial for Lutherans grew its holdings in Shore Bancshares by 53.9% during the 3rd quarter. Thrivent Financial for Lutherans now owns 72,458 shares of the bank’s stock worth $1,013,000 after acquiring an additional 25,370 shares during the last quarter. 59.76% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Konrad Wayson purchased 3,000 shares of the business’s stock in a transaction on Monday, November 25th. The shares were acquired at an average price of $16.94 per share, for a total transaction of $50,820.00. Following the completion of the acquisition, the director now owns 53,266 shares in the company, valued at approximately $902,326.04. The trade was a 5.97 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 8.57% of the stock is owned by insiders.

Shore Bancshares Price Performance

Shares of NASDAQ SHBI opened at $16.49 on Friday. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $549.61 million, a PE ratio of 12.40 and a beta of 0.97. The firm has a fifty day simple moving average of $16.04 and a 200 day simple moving average of $14.92. Shore Bancshares, Inc. has a twelve month low of $10.06 and a twelve month high of $17.61.

Shore Bancshares (NASDAQ:SHBI) last released its earnings results on Thursday, January 30th. The bank reported $0.44 EPS for the quarter, topping the consensus estimate of $0.35 by $0.09. Shore Bancshares had a return on equity of 10.40% and a net margin of 13.44%. On average, sell-side analysts forecast that Shore Bancshares, Inc. will post 1.46 EPS for the current year.

Shore Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Thursday, February 13th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.91%. Shore Bancshares’s payout ratio is presently 36.09%.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Keefe, Bruyette & Woods raised shares of Shore Bancshares from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $16.00 to $20.00 in a research note on Wednesday, December 4th. Piper Sandler initiated coverage on Shore Bancshares in a research note on Thursday. They issued an “overweight” rating and a $20.00 price target for the company.

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.