Shore Bancshares (NASDAQ:SHBI) Given New $15.00 Price Target at Keefe, Bruyette & Woods

Shore Bancshares (NASDAQ:SHBI) had its price objective boosted by Keefe, Bruyette & Woods from $13.00 to $15.00 in a research report sent to investors on Friday morning, Benzinga reports. They currently have a market perform rating on the bank’s stock.

Shore Bancshares Trading Down 0.8 %

NASDAQ SHBI opened at $14.53 on Friday. The company’s fifty day simple moving average is $11.66 and its 200-day simple moving average is $11.49. Shore Bancshares has a 52 week low of $9.66 and a 52 week high of $14.99. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.08. The stock has a market cap of $482.69 million, a P/E ratio of 25.05 and a beta of 0.97.

Shore Bancshares (NASDAQ:SHBI) last posted its earnings results on Thursday, May 2nd. The bank reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.08. Shore Bancshares had a net margin of 7.18% and a return on equity of 8.42%. The business had revenue of $47.78 million for the quarter, compared to analysts’ expectations of $49.88 million.

Shore Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Thursday, May 16th were issued a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, May 15th. This represents a $0.48 annualized dividend and a yield of 3.30%. Shore Bancshares’s dividend payout ratio is presently 82.76%.

Insider Activity at Shore Bancshares

In related news, Director Clyde V. Kelly III purchased 5,000 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The shares were purchased at an average cost of $11.19 per share, with a total value of $55,950.00. Following the completion of the acquisition, the director now directly owns 23,888 shares of the company’s stock, valued at approximately $267,306.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 8.57% of the stock is currently owned by corporate insiders.

Institutional Trading of Shore Bancshares

Institutional investors have recently added to or reduced their stakes in the stock. Quadrature Capital Ltd bought a new stake in Shore Bancshares during the first quarter valued at $200,000. Diversify Advisory Services LLC acquired a new stake in shares of Shore Bancshares during the first quarter worth $216,000. PBMares Wealth Management LLC acquired a new stake in shares of Shore Bancshares during the fourth quarter worth $232,000. SG Americas Securities LLC raised its holdings in shares of Shore Bancshares by 27.3% during the fourth quarter. SG Americas Securities LLC now owns 16,248 shares of the bank’s stock worth $232,000 after purchasing an additional 3,485 shares during the period. Finally, Black Maple Capital Management LP raised its holdings in shares of Shore Bancshares by 20.0% during the first quarter. Black Maple Capital Management LP now owns 30,028 shares of the bank’s stock worth $345,000 after purchasing an additional 5,000 shares during the period. 59.76% of the stock is owned by institutional investors and hedge funds.

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.