Key Points
- Director purchase: Director Dawn Willey bought 1,000 shares at an average price of $17.67 on Nov. 26, raising her stake to 12,000 shares (a 9.09% increase) and the transaction was filed with the SEC.
- Dividend paid: Shore Bancshares paid a quarterly dividend of $0.12 on Nov. 26 (annualized $0.48), implying a 2.7% yield and a dividend payout ratio of 28.24%.
- Stock and analyst outlook: SHBI trades around $17.57 (near its 52-week high) with a market cap of ~$587M and a P/E of 10.34; analysts' consensus is "Moderate Buy" with an average target of $19.17.
Shore Bancshares Inc (NASDAQ:SHBI - Get Free Report) Director Dawn Willey acquired 1,000 shares of the firm's stock in a transaction dated Wednesday, November 26th. The shares were purchased at an average cost of $17.67 per share, for a total transaction of $17,670.00. Following the completion of the acquisition, the director directly owned 12,000 shares in the company, valued at approximately $212,040. This represents a 9.09% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.
Shore Bancshares Trading Up 0.6%
SHBI stock opened at $17.57 on Tuesday. The firm has a fifty day moving average price of $16.23 and a 200 day moving average price of $16.00. Shore Bancshares Inc has a fifty-two week low of $11.47 and a fifty-two week high of $17.83. The firm has a market cap of $587.31 million, a PE ratio of 10.34 and a beta of 1.10. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.94 and a current ratio of 0.94.
Shore Bancshares (NASDAQ:SHBI - Get Free Report) last released its quarterly earnings results on Monday, September 19th. The bank reported $0.37 earnings per share (EPS) for the quarter. Shore Bancshares had a net margin of 16.78% and a return on equity of 11.37%. The company had revenue of $16.91 million for the quarter. Sell-side analysts anticipate that Shore Bancshares Inc will post 1.59 earnings per share for the current fiscal year.
Shore Bancshares Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Thursday, November 13th were issued a $0.12 dividend. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.7%. Shore Bancshares's dividend payout ratio (DPR) is presently 28.24%.
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of the business. IFP Advisors Inc grew its stake in shares of Shore Bancshares by 31,320.0% during the second quarter. IFP Advisors Inc now owns 1,571 shares of the bank's stock valued at $25,000 after buying an additional 1,566 shares during the last quarter. EverSource Wealth Advisors LLC purchased a new position in Shore Bancshares during the 2nd quarter valued at $31,000. PNC Financial Services Group Inc. boosted its holdings in Shore Bancshares by 108.4% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,020 shares of the bank's stock valued at $47,000 after acquiring an additional 1,571 shares during the period. Federated Hermes Inc. grew its position in Shore Bancshares by 168.7% in the 3rd quarter. Federated Hermes Inc. now owns 3,471 shares of the bank's stock valued at $57,000 after acquiring an additional 2,179 shares during the last quarter. Finally, Financial Consulate Inc. purchased a new stake in Shore Bancshares in the third quarter worth $71,000. Hedge funds and other institutional investors own 59.76% of the company's stock.
Analyst Ratings Changes
Several equities research analysts have weighed in on the company. Weiss Ratings reissued a "hold (c+)" rating on shares of Shore Bancshares in a research note on Wednesday, October 8th. Wall Street Zen cut Shore Bancshares from a "buy" rating to a "hold" rating in a report on Saturday, October 25th. Hovde Group assumed coverage on Shore Bancshares in a research report on Wednesday, November 19th. They set an "outperform" rating and a $19.00 target price on the stock. Zacks Research lowered Shore Bancshares from a "strong-buy" rating to a "hold" rating in a report on Friday, September 26th. Finally, Piper Sandler raised their price target on Shore Bancshares from $18.00 to $18.50 and gave the stock an "overweight" rating in a research report on Friday, November 14th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $19.17.
Get Our Latest Analysis on SHBI
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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