Insider Buying: Shore Bancshares (NASDAQ:SHBI) EVP Purchases $101,140.00 in Stock

Shore Bancshares Inc (NASDAQ:SHBI - Get Free Report) EVP Aaron Michael Kaslow purchased 6,500 shares of the company's stock in a transaction on Tuesday, November 18th. The stock was acquired at an average price of $15.56 per share, for a total transaction of $101,140.00. Following the completion of the transaction, the executive vice president owned 6,500 shares of the company's stock, valued at $101,140. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Shore Bancshares Stock Up 1.2%

Shares of Shore Bancshares stock traded up $0.18 during midday trading on Thursday, hitting $16.09. The company's stock had a trading volume of 150,029 shares, compared to its average volume of 164,078. Shore Bancshares Inc has a 1-year low of $11.47 and a 1-year high of $17.67. The stock has a 50-day simple moving average of $16.23 and a 200-day simple moving average of $15.86. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $537.97 million, a P/E ratio of 9.46 and a beta of 1.10.

Shore Bancshares (NASDAQ:SHBI - Get Free Report) last issued its quarterly earnings data on Monday, September 19th. The bank reported $0.37 earnings per share (EPS) for the quarter. Shore Bancshares had a return on equity of 11.37% and a net margin of 16.78%.The company had revenue of $16.91 million during the quarter. As a group, sell-side analysts expect that Shore Bancshares Inc will post 1.59 earnings per share for the current year.

Shore Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Thursday, November 13th will be given a dividend of $0.12 per share. The ex-dividend date is Thursday, November 13th. This represents a $0.48 annualized dividend and a yield of 3.0%. Shore Bancshares's dividend payout ratio (DPR) is presently 28.24%.

Institutional Trading of Shore Bancshares

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Shore Bancshares by 2.8% in the 3rd quarter. Vanguard Group Inc. now owns 1,781,501 shares of the bank's stock worth $29,234,000 after purchasing an additional 48,390 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Shore Bancshares by 4.2% in the third quarter. Dimensional Fund Advisors LP now owns 1,609,616 shares of the bank's stock worth $26,414,000 after buying an additional 64,175 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Shore Bancshares by 19.7% during the 3rd quarter. Wellington Management Group LLP now owns 1,065,910 shares of the bank's stock worth $17,492,000 after acquiring an additional 175,282 shares during the last quarter. Geode Capital Management LLC increased its stake in Shore Bancshares by 5.0% in the second quarter. Geode Capital Management LLC now owns 749,327 shares of the bank's stock valued at $11,782,000 after acquiring an additional 35,407 shares during the last quarter. Finally, American Century Companies Inc. raised its position in Shore Bancshares by 15.0% during the second quarter. American Century Companies Inc. now owns 682,947 shares of the bank's stock valued at $10,736,000 after purchasing an additional 88,844 shares in the last quarter. 59.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SHBI has been the subject of a number of recent research reports. Piper Sandler boosted their target price on shares of Shore Bancshares from $18.00 to $18.50 and gave the company an "overweight" rating in a research report on Friday, November 14th. Zacks Research cut Shore Bancshares from a "strong-buy" rating to a "hold" rating in a report on Friday, September 26th. Weiss Ratings restated a "hold (c+)" rating on shares of Shore Bancshares in a research report on Wednesday, October 8th. Hovde Group initiated coverage on shares of Shore Bancshares in a research report on Wednesday. They set an "outperform" rating and a $19.00 price objective for the company. Finally, Wall Street Zen cut shares of Shore Bancshares from a "buy" rating to a "hold" rating in a research report on Saturday, October 25th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $19.17.

View Our Latest Stock Analysis on SHBI

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.

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