Raymond James & Associates Takes $124,000 Position in Shore Bancshares, Inc. (NASDAQ:SHBI)

Raymond James & Associates purchased a new position in shares of Shore Bancshares, Inc. (NASDAQ:SHBIFree Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 11,760 shares of the bank’s stock, valued at approximately $124,000.

Other hedge funds also recently bought and sold shares of the company. FMR LLC increased its stake in shares of Shore Bancshares by 28.9% during the second quarter. FMR LLC now owns 2,274 shares of the bank’s stock worth $42,000 after buying an additional 510 shares during the period. Legal & General Group Plc purchased a new stake in shares of Shore Bancshares in the 2nd quarter valued at approximately $46,000. Tower Research Capital LLC TRC raised its holdings in shares of Shore Bancshares by 155.7% in the 3rd quarter. Tower Research Capital LLC TRC now owns 2,994 shares of the bank’s stock valued at $52,000 after purchasing an additional 1,823 shares in the last quarter. Citigroup Inc. purchased a new stake in shares of Shore Bancshares during the 2nd quarter worth $64,000. Finally, UBS Group AG grew its stake in shares of Shore Bancshares by 25.2% during the second quarter. UBS Group AG now owns 3,789 shares of the bank’s stock worth $70,000 after purchasing an additional 762 shares in the last quarter. Institutional investors and hedge funds own 64.77% of the company’s stock.

Analyst Ratings Changes

SHBI has been the topic of a number of analyst reports. StockNews.com upgraded Shore Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday, February 1st. TheStreet raised Shore Bancshares from a “c” rating to a “b-” rating in a research report on Wednesday, January 31st.

View Our Latest Research Report on Shore Bancshares

Insider Buying and Selling

In other Shore Bancshares news, Director Clyde V. Kelly III acquired 3,500 shares of the company’s stock in a transaction dated Tuesday, November 28th. The stock was acquired at an average cost of $11.84 per share, with a total value of $41,440.00. Following the purchase, the director now directly owns 18,546 shares in the company, valued at approximately $219,584.64. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 11.30% of the company’s stock.

Shore Bancshares Price Performance

Shares of NASDAQ:SHBI opened at $11.02 on Thursday. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.91 and a quick ratio of 0.91. Shore Bancshares, Inc. has a 12 month low of $9.66 and a 12 month high of $17.94. The firm has a market capitalization of $365.31 million, a P/E ratio of 16.95 and a beta of 0.97. The company’s fifty day moving average price is $13.26 and its 200 day moving average price is $11.86.

Shore Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 29th. Stockholders of record on Monday, February 12th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.36%. The ex-dividend date of this dividend is Friday, February 9th. Shore Bancshares’s dividend payout ratio is currently 73.85%.

Shore Bancshares Profile

(Free Report)

Shore Bancshares, Inc operates as a bank holding company for the Shore United Bank 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.

Featured Stories

Want to see what other hedge funds are holding SHBI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Shore Bancshares, Inc. (NASDAQ:SHBIFree Report).

Institutional Ownership by Quarter for Shore Bancshares (NASDAQ:SHBI)

Receive News & Ratings for Shore Bancshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shore Bancshares and related companies with MarketBeat.com's FREE daily email newsletter.