BNP Paribas Financial Markets Cuts Stock Holdings in Shore Bancshares, Inc. (NASDAQ:SHBI)

BNP Paribas Financial Markets cut its stake in Shore Bancshares, Inc. (NASDAQ:SHBI) by 5.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,144 shares of the bank’s stock after selling 1,421 shares during the period. BNP Paribas Financial Markets owned about 0.07% of Shore Bancshares worth $383,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Russell Investments Group Ltd. raised its stake in Shore Bancshares by 43,326.3% in the fourth quarter. Russell Investments Group Ltd. now owns 8,251 shares of the bank’s stock valued at $131,000 after buying an additional 8,232 shares in the last quarter. Jump Financial LLC purchased a new position in shares of Shore Bancshares in the 4th quarter valued at about $201,000. SG Americas Securities LLC raised 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 worth $220,000 after acquiring an additional 2,734 shares in the last quarter. LPL Financial LLC purchased a new stake in Shore Bancshares during the fourth quarter worth approximately $270,000. Finally, Raymond James Financial Inc. purchased a new stake in Shore Bancshares during the fourth quarter worth approximately $279,000. 59.76% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Piper Sandler started 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.

Shore Bancshares Price Performance

Shares of NASDAQ SHBI opened at $14.34 on Monday. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.23. Shore Bancshares, Inc. has a twelve month low of $10.36 and a twelve month high of $17.61. The stock has a 50 day moving average of $13.53 and a two-hundred day moving average of $15.00. The stock has a market cap of $478.58 million, a P/E ratio of 10.78 and a beta of 0.93.

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

Shore Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 12th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 3.35%. The ex-dividend date of this dividend was Monday, May 12th. Shore Bancshares’s payout ratio is currently 32.21%.

Insiders Place Their Bets

In related news, Director Konrad Wayson acquired 5,000 shares of Shore Bancshares stock in a transaction on Friday, May 2nd. The stock was purchased at an average cost of $14.25 per share, with a total value of $71,250.00. Following the purchase, 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 8.69% of the stock is currently owned by 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.