Shore Bancshares, Inc. (NASDAQ:SHBI) Director Buys $12,450.00 in Stock

Shore Bancshares, Inc. (NASDAQ:SHBIGet Rating) Director John Lamon acquired 625 shares of the stock in a transaction dated Wednesday, May 4th. The stock was acquired at an average price of $19.92 per share, for a total transaction of $12,450.00. Following the purchase, the director now directly owns 50,977 shares in the company, valued at $1,015,461.84. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

NASDAQ SHBI opened at $20.19 on Thursday. Shore Bancshares, Inc. has a 12 month low of $16.25 and a 12 month high of $23.19. The stock has a market cap of $400.63 million, a price-to-earnings ratio of 17.26 and a beta of 0.87. The company’s 50 day moving average is $20.42 and its two-hundred day moving average is $20.15. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 0.15.

Shore Bancshares (NASDAQ:SHBIGet Rating) last released its earnings results on Thursday, April 28th. The bank reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.01). Shore Bancshares had a return on equity of 7.19% and a net margin of 17.67%. Sell-side analysts forecast that Shore Bancshares, Inc. will post 1.55 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, March 7th. Shareholders of record on Thursday, February 24th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date was Wednesday, February 23rd. Shore Bancshares’s payout ratio is 41.03%.

A number of institutional investors and hedge funds have recently made changes to their positions in SHBI. Wellington Management Group LLP purchased a new stake in Shore Bancshares during the 3rd quarter valued at approximately $4,612,000. Alliancebernstein L.P. grew its holdings in Shore Bancshares by 231.1% during the 4th quarter. Alliancebernstein L.P. now owns 259,804 shares of the bank’s stock valued at $5,417,000 after buying an additional 181,345 shares in the last quarter. Petiole USA ltd purchased a new stake in Shore Bancshares during the 4th quarter valued at approximately $1,983,000. Assenagon Asset Management S.A. grew its holdings in Shore Bancshares by 120.7% during the 1st quarter. Assenagon Asset Management S.A. now owns 168,696 shares of the bank’s stock valued at $3,455,000 after buying an additional 92,274 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in Shore Bancshares by 14.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 647,878 shares of the bank’s stock valued at $11,487,000 after buying an additional 81,459 shares in the last quarter. 56.21% of the stock is owned by institutional investors and hedge funds.

Several brokerages have recently weighed in on SHBI. StockNews.com began coverage on shares of Shore Bancshares in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Zacks Investment Research cut shares of Shore Bancshares from a “buy” rating to a “hold” rating in a research note on Wednesday.

Shore Bancshares Company Profile (Get Rating)

Shore Bancshares, Inc operates as a bank holding company for the Shore United Bank 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.

Featured Stories

Receive News & Ratings for Shore Bancshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shore Bancshares and related companies with MarketBeat.com's FREE daily email newsletter.