Barclays PLC Grows Holdings in Shore Bancshares, Inc. (NASDAQ:SHBI)

Barclays PLC grew its stake in shares of Shore Bancshares, Inc. (NASDAQ:SHBI) by 7.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 91,087 shares of the bank’s stock after buying an additional 6,145 shares during the quarter. Barclays PLC owned 0.27% of Shore Bancshares worth $1,443,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Russell Investments Group Ltd. raised its position in Shore Bancshares by 43,326.3% during the fourth quarter. Russell Investments Group Ltd. now owns 8,251 shares of the bank’s stock valued at $131,000 after purchasing an additional 8,232 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Shore Bancshares by 24.5% during the 4th quarter. SG Americas Securities LLC now owns 13,871 shares of the bank’s stock valued at $220,000 after purchasing an additional 2,734 shares during the last quarter. LPL Financial LLC purchased a new position in shares of Shore Bancshares during the 4th quarter valued at about $270,000. Raymond James Financial Inc. bought a new stake in Shore Bancshares in the 4th quarter worth approximately $279,000. Finally, Franklin Resources Inc. purchased a new stake in Shore Bancshares in the fourth quarter worth approximately $301,000. 59.76% of the stock is owned by institutional investors.

Shore Bancshares Stock Performance

NASDAQ SHBI opened at $14.37 on Friday. The company has a 50-day simple moving average of $13.36 and a two-hundred day simple moving average of $14.99. Shore Bancshares, Inc. has a 12-month low of $10.36 and a 12-month high of $17.61. The firm has a market cap of $479.58 million, a price-to-earnings ratio of 10.80 and a beta of 0.93. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.23.

Shore Bancshares (NASDAQ:SHBI) last issued its earnings results on Tuesday, April 29th. The bank reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.10. The company had revenue of $53.03 million during the quarter, compared to analysts’ expectations of $50.78 million. Shore Bancshares had a return on equity of 10.40% and a net margin of 13.44%. On average, equities analysts forecast that Shore Bancshares, Inc. will post 1.59 EPS for the current year.

Shore Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Monday, May 12th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 3.34%. The ex-dividend date of this dividend is Monday, May 12th. Shore Bancshares’s payout ratio is 32.21%.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler began coverage on shares of Shore Bancshares in a research note on Thursday, February 6th. They set an “overweight” rating and a $20.00 price target on the stock.

Insider Activity at Shore Bancshares

In other news, Director Konrad Wayson purchased 5,000 shares of the business’s stock in a transaction on Friday, May 2nd. The shares were acquired at an average price of $14.25 per share, with a total value of $71,250.00. Following the acquisition, the director now directly owns 59,328 shares in the company, valued at approximately $845,424. The trade was a 9.20 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 8.57% of the stock is currently owned by company insiders.

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.