Shore Bancshares (NASDAQ:SHBI) EVP Aaron Michael Kaslow Acquires 6,500 Shares

Key Points

  • EVP Aaron Michael Kaslow bought 6,500 shares of Shore Bancshares (NASDAQ:SHBI) on Nov. 18 at an average price of $15.56 for a total of $101,140, a transaction disclosed in an SEC filing.
  • The company declared a quarterly dividend of $0.12 (ex-dividend Nov. 13, payable Nov. 26), equal to a $0.48 annualized payout and about a 2.9% yield with a ~28% payout ratio.
  • SHBI recently traded near $16.38, has a 52‑week range of $11.47–$17.67 and a market cap of roughly $547.6M; analysts carry a consensus "Moderate Buy" with a $19.17 target.

Shore Bancshares Inc (NASDAQ:SHBI - Get Free Report) EVP Aaron Michael Kaslow purchased 6,500 shares of the business's stock in a transaction that occurred on Tuesday, November 18th. The stock was bought at an average cost of $15.56 per share, for a total transaction of $101,140.00. Following the acquisition, the executive vice president owned 6,500 shares in the company, valued at approximately $101,140. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Shore Bancshares Stock Performance

SHBI traded up $0.30 during trading on Friday, reaching $16.38. 68,226 shares of the company were exchanged, compared to its average volume of 164,130. Shore Bancshares Inc has a 52 week low of $11.47 and a 52 week high of $17.67. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.22. The firm has a 50 day moving average of $16.20 and a 200 day moving average of $15.86. The stock has a market cap of $547.57 million, a P/E ratio of 9.65 and a beta of 1.10.

Shore Bancshares (NASDAQ:SHBI - Get Free Report) last posted its earnings results on Monday, September 19th. The bank reported $0.37 earnings per share (EPS) for the quarter. The company had revenue of $16.91 million for the quarter. Shore Bancshares had a return on equity of 11.37% and a net margin of 16.78%. On average, sell-side analysts forecast that Shore Bancshares Inc will post 1.59 EPS for the current fiscal year.

Shore Bancshares Announces Dividend




The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Thursday, November 13th will be given a $0.12 dividend. The ex-dividend date is Thursday, November 13th. This represents a $0.48 annualized dividend and a yield of 2.9%. Shore Bancshares's dividend payout ratio is 28.24%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SHBI. CWM LLC lifted its holdings in shares of Shore Bancshares by 1.4% during the first quarter. CWM LLC now owns 59,878 shares of the bank's stock valued at $811,000 after purchasing an additional 843 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Shore Bancshares by 18.6% in the first quarter. Goldman Sachs Group Inc. now owns 219,494 shares of the bank's stock worth $2,972,000 after buying an additional 34,453 shares during the period. Vanguard Group Inc. grew its holdings in shares of Shore Bancshares by 1.2% during the first quarter. Vanguard Group Inc. now owns 1,661,598 shares of the bank's stock valued at $22,498,000 after buying an additional 19,531 shares in the last quarter. Hsbc Holdings PLC raised its position in Shore Bancshares by 40.3% during the first quarter. Hsbc Holdings PLC now owns 58,549 shares of the bank's stock valued at $793,000 after buying an additional 16,806 shares during the period. Finally, American Century Companies Inc. boosted its position in Shore Bancshares by 26.6% during the 1st quarter. American Century Companies Inc. now owns 594,103 shares of the bank's stock worth $8,044,000 after acquiring an additional 124,921 shares during the period. Institutional investors and hedge funds own 59.76% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Weiss Ratings reissued a "hold (c+)" rating on shares of Shore Bancshares in a report on Wednesday, October 8th. Wall Street Zen cut shares of Shore Bancshares from a "buy" rating to a "hold" rating in a research note on Saturday, October 25th. Piper Sandler raised their target price on shares of Shore Bancshares from $18.00 to $18.50 and gave the company an "overweight" rating in a research note on Friday, November 14th. Hovde Group began coverage on shares of Shore Bancshares in a research note on Wednesday. They issued an "outperform" rating and a $19.00 price target for the company. Finally, Zacks Research cut Shore Bancshares from a "strong-buy" rating to a "hold" rating in a report on Friday, September 26th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Shore Bancshares currently has a consensus rating of "Moderate Buy" and a consensus target price of $19.17.

Read Our Latest Report on Shore Bancshares

Shore Bancshares Company Profile

(Get Free Report)

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.

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