Shore Bancshares (NASDAQ:SHBI) Given New $13.00 Price Target at Keefe, Bruyette & Woods

Shore Bancshares (NASDAQ:SHBI) had its price objective cut by Keefe, Bruyette & Woods from $14.00 to $13.00 in a research report released on Friday, Benzinga reports. They currently have a market perform rating on the bank’s stock.

Other analysts have also issued reports about the company. StockNews.com upgraded Shore Bancshares from a sell rating to a hold rating in a report on Thursday, February 1st. TheStreet downgraded Shore Bancshares from a b- rating to a c+ rating in a research report on Thursday, February 29th.

Shore Bancshares Stock Up 4.8 %

SHBI traded up $0.51 during trading on Friday, reaching $11.21. The company had a trading volume of 78,556 shares, compared to its average volume of 75,709. The company has a market cap of $372.28 million, a P/E ratio of 19.33 and a beta of 0.94. Shore Bancshares has a 12 month low of $9.66 and a 12 month high of $14.51. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.92 and a quick ratio of 0.92. The business’s fifty day moving average price is $10.91 and its 200 day moving average price is $11.82.

Shore Bancshares (NASDAQ:SHBI) last posted its quarterly earnings data on Wednesday, January 31st. The bank reported $0.39 EPS for the quarter, beating the consensus estimate of $0.38 by $0.01. The business had revenue of $49.15 million for the quarter, compared to analysts’ expectations of $51.20 million. Shore Bancshares had a net margin of 5.66% and a return on equity of 7.55%. Equities analysts anticipate that Shore Bancshares will post 1.49 EPS for the current year.

Shore Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Thursday, May 16th will be issued a $0.12 dividend. The ex-dividend date is Wednesday, May 15th. This represents a $0.48 annualized dividend and a yield of 4.28%. Shore Bancshares’s dividend payout ratio is presently 82.76%.

Insider Transactions at Shore Bancshares

In other news, Director Dawn M. Willey acquired 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was acquired at an average price of $11.02 per share, with a total value of $110,200.00. Following the completion of the transaction, the director now directly owns 17,500 shares of the company’s stock, valued at approximately $192,850. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Dawn M. Willey acquired 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were acquired at an average cost of $11.02 per share, with a total value of $110,200.00. Following the completion of the purchase, the director now directly owns 17,500 shares of the company’s stock, valued at approximately $192,850. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David S. Jones acquired 8,043 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The shares were acquired at an average price of $11.01 per share, with a total value of $88,553.43. Following the completion of the transaction, the director now owns 35,235 shares in the company, valued at $387,937.35. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 19,121 shares of company stock valued at $211,067. 8.57% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Shore Bancshares

Several hedge funds have recently modified their holdings of SHBI. BNP Paribas Financial Markets boosted its stake 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 purchasing an additional 34,717 shares in the last quarter. Diversify Advisory Services LLC bought a new stake in Shore Bancshares during the 1st quarter worth approximately $216,000. Assenagon Asset Management S.A. increased its position in Shore Bancshares by 38.0% in the 1st quarter. Assenagon Asset Management S.A. now owns 91,396 shares of the bank’s stock valued at $1,051,000 after acquiring an additional 25,155 shares during the period. Mendon Capital Advisors Corp bought a new position in shares of Shore Bancshares during the fourth quarter valued at $3,951,000. Finally, Gendell Jeffrey L lifted its holdings in shares of Shore Bancshares by 17.1% during the fourth quarter. Gendell Jeffrey L now owns 273,410 shares of the bank’s stock worth $3,896,000 after purchasing an additional 40,000 shares during the period. Institutional investors and hedge funds own 59.76% of the company’s stock.

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.