SG Americas Securities LLC Acquires 3,485 Shares of Shore Bancshares, Inc. (NASDAQ:SHBI)

SG Americas Securities LLC boosted its holdings in Shore Bancshares, Inc. (NASDAQ:SHBI) by 27.3% in the 4th quarter, HoldingsChannel reports. The firm owned 16,248 shares of the bank’s stock after purchasing an additional 3,485 shares during the quarter. SG Americas Securities LLC’s holdings in Shore Bancshares were worth $232,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. FMR LLC boosted its stake in Shore Bancshares by 28.9% in the 2nd quarter. FMR LLC now owns 2,274 shares of the bank’s stock worth $42,000 after purchasing an additional 510 shares during the period. Legal & General Group Plc bought a new position in Shore Bancshares in the 2nd quarter worth approximately $46,000. Tower Research Capital LLC TRC boosted its stake in Shore Bancshares by 155.7% in the 3rd quarter. Tower Research Capital LLC TRC now owns 2,994 shares of the bank’s stock worth $52,000 after purchasing an additional 1,823 shares during the period. UBS Group AG boosted its stake in Shore Bancshares by 25.2% in the 2nd quarter. UBS Group AG now owns 3,789 shares of the bank’s stock worth $70,000 after purchasing an additional 762 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in Shore Bancshares by 14.4% in the 1st quarter. JPMorgan Chase & Co. now owns 4,197 shares of the bank’s stock worth $86,000 after purchasing an additional 528 shares during the period. 59.76% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SHBI. TheStreet downgraded Shore Bancshares from a “b-” rating to a “c+” rating in a research report on Thursday, February 29th. StockNews.com upgraded Shore Bancshares from a “sell” rating to a “hold” rating in a research report on Thursday, February 1st.

Insiders Place Their Bets

In other news, Director Dawn M. Willey acquired 10,000 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was bought 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 $192,850. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director David S. Jones acquired 8,043 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was bought at an average cost of $11.01 per share, with a total value of $88,553.43. Following the completion of the purchase, the director now directly owns 35,235 shares of the company’s stock, valued at $387,937.35. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Dawn M. Willey bought 10,000 shares of the stock in a transaction dated Tuesday, February 13th. The shares were bought 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 disclosure for this purchase can be found here. Insiders bought 19,121 shares of company stock valued at $211,067 over the last three months. 11.30% of the stock is owned by company insiders.

Shore Bancshares Stock Down 0.6 %

NASDAQ SHBI opened at $10.34 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.92 and a current ratio of 0.92. The company has a market capitalization of $343.40 million, a P/E ratio of 15.91 and a beta of 0.93. Shore Bancshares, Inc. has a one year low of $9.66 and a one year high of $14.51. The stock has a 50 day moving average price of $11.18 and a 200-day moving average price of $11.81.

Shore Bancshares (NASDAQ:SHBI) last issued its quarterly earnings results on Wednesday, January 31st. The bank reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. The company had revenue of $49.15 million during the quarter, compared to the consensus estimate of $51.20 million. Shore Bancshares had a return on equity of 6.47% and a net margin of 5.82%. As a group, equities analysts predict that Shore Bancshares, Inc. will post 1.49 EPS for the current fiscal year.

Shore Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Shareholders of record on Monday, February 12th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 4.64%. The ex-dividend date was Friday, February 9th. Shore Bancshares’s payout ratio is 73.85%.

About Shore Bancshares

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.