Shore Bancshares Inc $SHBI Shares Purchased by Bailard Inc.

Bailard Inc. increased its stake in shares of Shore Bancshares Inc (NASDAQ:SHBI) by 215.5% in the 2nd quarter, Holdings Channel.com reports. The firm owned 48,900 shares of the bank’s stock after purchasing an additional 33,400 shares during the period. Bailard Inc.’s holdings in Shore Bancshares were worth $769,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SHBI. Atlantic Union Bankshares Corp acquired a new position in shares of Shore Bancshares during the second quarter worth about $8,622,000. Nuveen LLC purchased a new stake in Shore Bancshares in the 1st quarter valued at approximately $3,716,000. Cubist Systematic Strategies LLC increased its position in Shore Bancshares by 309.6% during the 1st quarter. Cubist Systematic Strategies LLC now owns 165,475 shares of the bank’s stock worth $2,241,000 after purchasing an additional 125,079 shares during the period. American Century Companies Inc. increased 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 purchasing an additional 124,921 shares during the period. Finally, Segall Bryant & Hamill LLC purchased a new position in shares of Shore Bancshares during the 1st quarter worth approximately $1,644,000. 59.76% of the stock is currently owned by hedge funds and other institutional investors.

Shore Bancshares Stock Down 1.4%

SHBI opened at $16.13 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.94 and a current ratio of 0.94. The company has a market cap of $539.18 million, a price-to-earnings ratio of 9.49 and a beta of 1.10. Shore Bancshares Inc has a one year low of $11.47 and a one year high of $17.67. The business’s fifty day moving average is $16.32 and its two-hundred day moving average is $15.79.

Shore Bancshares (NASDAQ:SHBI) last released its quarterly earnings data on Monday, September 19th. The bank reported $0.37 EPS for the quarter. The business had revenue of $16.91 million for the quarter. Shore Bancshares had a net margin of 16.78% and a return on equity of 11.37%. Analysts anticipate that Shore Bancshares Inc will post 1.59 EPS for the current fiscal year.

Shore Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Thursday, November 13th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Thursday, November 13th. Shore Bancshares’s dividend payout ratio (DPR) is 28.24%.

Analyst Ratings Changes

SHBI has been the topic of a number of analyst reports. Wall Street Zen downgraded Shore Bancshares from a “buy” rating to a “hold” rating in a research note on Saturday, October 25th. Zacks Research lowered shares of Shore Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 26th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Shore Bancshares in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Shore Bancshares currently has an average rating of “Moderate Buy” and a consensus price target of $20.00.

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.