Aaron Michael Kaslow Buys 6,500 Shares of Shore Bancshares (NASDAQ:SHBI) Stock

Shore Bancshares Inc (NASDAQ:SHBI) EVP Aaron Michael Kaslow bought 6,500 shares of the business’s stock in a transaction dated Tuesday, November 18th. The stock was purchased at an average price of $15.56 per share, with a total value of $101,140.00. Following the purchase, the executive vice president directly owned 6,500 shares of the company’s stock, valued at $101,140. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Shore Bancshares Stock Up 3.1%

NASDAQ SHBI opened at $16.58 on Friday. The stock’s 50 day simple moving average is $16.19 and its 200 day simple moving average is $15.87. Shore Bancshares Inc has a one year low of $11.47 and a one year high of $17.67. The firm has a market cap of $554.22 million, a PE ratio of 9.75 and a beta of 1.10. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.94 and a quick ratio of 0.94.

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

Shore Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Investors 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 2.9%. Shore Bancshares’s dividend payout ratio is 28.24%.

Hedge Funds Weigh In On Shore Bancshares

Several large investors have recently bought and sold shares of SHBI. IFP Advisors Inc grew its holdings in Shore Bancshares by 31,320.0% during the 2nd quarter. IFP Advisors Inc now owns 1,571 shares of the bank’s stock worth $25,000 after acquiring an additional 1,566 shares during the period. EverSource Wealth Advisors LLC bought a new position in shares of Shore Bancshares in the 2nd quarter worth $31,000. PNC Financial Services Group Inc. grew its stake in shares of Shore Bancshares by 108.4% during the second quarter. PNC Financial Services Group Inc. now owns 3,020 shares of the bank’s stock worth $47,000 after purchasing an additional 1,571 shares during the period. Federated Hermes Inc. increased its holdings in Shore Bancshares by 168.7% in the third quarter. Federated Hermes Inc. now owns 3,471 shares of the bank’s stock valued at $57,000 after purchasing an additional 2,179 shares during the last quarter. Finally, Financial Consulate Inc. acquired a new position in Shore Bancshares in the third quarter valued at about $71,000. 59.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SHBI. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Shore Bancshares in a research note on Wednesday, October 8th. Hovde Group started coverage on shares of Shore Bancshares in a report on Wednesday. They issued an “outperform” rating and a $19.00 price target for the company. Wall Street Zen cut shares of Shore Bancshares from a “buy” rating to a “hold” rating in a research report on Saturday, October 25th. Piper Sandler increased their price objective on Shore Bancshares from $18.00 to $18.50 and gave the company an “overweight” rating in a research report on Friday, November 14th. Finally, Zacks Research cut Shore Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 26th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Shore Bancshares presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.17.

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.