Shore Bancshares, Inc. (NASDAQ:SHBI) Director David S. Jones Acquires 8,043 Shares

Shore Bancshares, Inc. (NASDAQ:SHBIGet Free Report) Director David S. Jones acquired 8,043 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The shares were acquired at an average cost of $11.01 per share, for a total transaction of $88,553.43. Following the purchase, the director now directly owns 35,235 shares of the company’s stock, valued at $387,937.35. The purchase was disclosed in a legal filing with the SEC, which is available at this link.

Shore Bancshares Stock Up 2.7 %

Shares of Shore Bancshares stock opened at $11.56 on Tuesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a market capitalization of $383.21 million, a PE ratio of 17.78 and a beta of 0.97. Shore Bancshares, Inc. has a 52-week low of $9.66 and a 52-week high of $17.50. The company has a 50-day simple moving average of $13.19 and a two-hundred day simple moving average of $11.82.

Shore Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 29th. Stockholders of record on Monday, February 12th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, February 9th. This represents a $0.48 annualized dividend and a dividend yield of 4.15%. Shore Bancshares’s payout ratio is 73.85%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. BlackRock Inc. raised its holdings in shares of Shore Bancshares by 29.2% during the second quarter. BlackRock Inc. now owns 2,249,043 shares of the bank’s stock valued at $25,999,000 after purchasing an additional 508,881 shares during the last quarter. Fourthstone LLC raised its holdings in shares of Shore Bancshares by 30.1% during the second quarter. Fourthstone LLC now owns 1,980,921 shares of the bank’s stock valued at $22,899,000 after purchasing an additional 458,463 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Shore Bancshares by 78.9% during the third quarter. Vanguard Group Inc. now owns 1,550,504 shares of the bank’s stock valued at $16,311,000 after purchasing an additional 683,576 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Shore Bancshares by 98.1% during the third quarter. The Manufacturers Life Insurance Company now owns 1,103,909 shares of the bank’s stock valued at $11,613,000 after purchasing an additional 546,605 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Shore Bancshares by 5.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,044,671 shares of the bank’s stock valued at $14,887,000 after purchasing an additional 50,356 shares during the last quarter. 64.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Get Our Latest Analysis on Shore Bancshares

Shore Bancshares Company Profile

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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.

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