Tudor Investment Corp ET AL Sells 27,093 Shares of Shore Bancshares Inc $SHBI

Tudor Investment Corp ET AL decreased its holdings in shares of Shore Bancshares Inc (NASDAQ:SHBI) by 58.9% in the third quarter, HoldingsChannel reports. The firm owned 18,928 shares of the bank’s stock after selling 27,093 shares during the quarter. Tudor Investment Corp ET AL’s holdings in Shore Bancshares were worth $311,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Shore Bancshares by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,226 shares of the bank’s stock valued at $247,000 after purchasing an additional 780 shares during the last quarter. Curi Capital LLC raised its position in Shore Bancshares by 0.5% during the 2nd quarter. Curi Capital LLC now owns 176,046 shares of the bank’s stock valued at $2,767,000 after purchasing an additional 882 shares during the last quarter. BNP Paribas Financial Markets raised its position in Shore Bancshares by 29.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 5,879 shares of the bank’s stock valued at $96,000 after purchasing an additional 1,324 shares during the last quarter. Rhumbline Advisers raised its position in Shore Bancshares by 3.5% during the 3rd quarter. Rhumbline Advisers now owns 44,538 shares of the bank’s stock valued at $731,000 after purchasing an additional 1,525 shares during the last quarter. Finally, IFP Advisors Inc raised its position in Shore Bancshares by 98.9% during the 3rd quarter. IFP Advisors Inc now owns 3,124 shares of the bank’s stock valued at $51,000 after purchasing an additional 1,553 shares during the last quarter. Institutional investors own 59.76% of the company’s stock.

Shore Bancshares Stock Down 0.3%

SHBI stock opened at $19.38 on Friday. Shore Bancshares Inc has a fifty-two week low of $12.20 and a fifty-two week high of $20.68. The business’s 50 day moving average price is $18.86 and its two-hundred day moving average price is $17.81. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.94 and a current ratio of 0.95. The company has a market capitalization of $648.28 million, a price-to-earnings ratio of 10.89 and a beta of 0.85.

Shore Bancshares (NASDAQ:SHBI) last posted its earnings results on Wednesday, January 28th. The bank reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.04. Shore Bancshares had a return on equity of 11.50% and a net margin of 17.36%.The firm had revenue of $59.20 million for the quarter, compared to the consensus estimate of $57.55 million. As a group, analysts forecast that Shore Bancshares Inc will post 1.59 earnings per share for the current fiscal year.

Shore Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 18th. Shareholders of record on Wednesday, March 4th were issued a dividend of $0.12 per share. The ex-dividend date was Wednesday, March 4th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.5%. Shore Bancshares’s dividend payout ratio is 26.97%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on SHBI shares. Hovde Group upped their price target on Shore Bancshares from $19.00 to $22.00 and gave the company an “outperform” rating in a research report on Tuesday, February 3rd. Weiss Ratings upgraded Shore Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, April 6th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $20.00 target price on shares of Shore Bancshares in a report on Thursday, April 9th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $20.17.

Insider Buying and Selling at Shore Bancshares

In related news, Director William E. Esham III purchased 5,000 shares of the business’s stock in a transaction that occurred on Thursday, February 5th. The shares were bought at an average price of $19.99 per share, for a total transaction of $99,950.00. Following the purchase, the director directly owned 5,510 shares of the company’s stock, valued at approximately $110,144.90. This represents a 980.39% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 8.69% of the stock is owned by insiders.

About Shore Bancshares

Shore Bancshares, Inc (NASDAQ: SHBI) is the bank holding company for Shore Community Bank, a commercial bank headquartered in Mount Holly, New Jersey. The company provides a full suite of banking and financial services to individuals and businesses, including deposit accounts, consumer and commercial lending, mortgage financing, and cash management solutions. Through its branch network, Shore Bancshares focuses on delivering community-oriented banking services with an emphasis on personalized customer relationships.

Shore Community Bank’s lending portfolio includes commercial real estate, construction loans, agricultural loans, small business loans under government-sponsored programs, and conventional residential mortgages.