Y Intercept Hong Kong Ltd Purchases Shares of 13,979 Shore Bancshares Inc $SHBI

Y Intercept Hong Kong Ltd acquired a new position in shares of Shore Bancshares Inc (NASDAQ:SHBI) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 13,979 shares of the bank’s stock, valued at approximately $220,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. AlphaQuest LLC grew its holdings in shares of Shore Bancshares by 75.2% in the 2nd quarter. AlphaQuest LLC now owns 18,728 shares of the bank’s stock worth $294,000 after purchasing an additional 8,039 shares during the last quarter. CWM LLC boosted its position in Shore Bancshares by 8.2% in the second quarter. CWM LLC now owns 64,777 shares of the bank’s stock valued at $1,018,000 after buying an additional 4,899 shares in the last quarter. IFP Advisors Inc boosted its position in Shore Bancshares by 31,320.0% in 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 in the last quarter. Goldman Sachs Group Inc. grew its stake in Shore Bancshares by 18.6% during 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 last quarter. Finally, Strs Ohio acquired a new stake in shares of Shore Bancshares during the first quarter worth approximately $213,000. Institutional investors and hedge funds own 59.76% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Shore Bancshares Stock Performance

Shares of Shore Bancshares stock opened at $16.03 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.94 and a quick ratio of 0.94. The firm has a 50 day simple moving average of $16.39 and a 200 day simple moving average of $15.72. Shore Bancshares Inc has a fifty-two week low of $11.47 and a fifty-two week high of $17.67. The firm has a market cap of $535.83 million, a P/E ratio of 9.43 and a beta of 1.10.

Shore Bancshares (NASDAQ:SHBI) last posted its quarterly earnings data on Monday, September 19th. The bank reported $0.37 earnings per share (EPS) for the quarter. The firm 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%. Sell-side analysts predict that Shore Bancshares Inc will post 1.59 earnings per share for the current fiscal year.

Shore Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Thursday, November 13th will be issued a $0.12 dividend. The ex-dividend date is Thursday, November 13th. This represents a $0.48 annualized dividend and a yield of 3.0%. Shore Bancshares’s dividend payout ratio (DPR) is currently 28.24%.

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.