Banc Funds Co. LLC Has $3.94 Million Stake in Shore Bancshares Inc $SHBI

Banc Funds Co. LLC reduced its holdings in Shore Bancshares Inc (NASDAQ:SHBI) by 21.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 239,894 shares of the bank’s stock after selling 63,915 shares during the period. Banc Funds Co. LLC owned approximately 0.72% of Shore Bancshares worth $3,937,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Royal Bank of Canada grew its holdings in Shore Bancshares by 21.8% during the 1st quarter. Royal Bank of Canada now owns 23,168 shares of the bank’s stock worth $314,000 after acquiring an additional 4,154 shares during the period. AQR Capital Management LLC lifted its stake in shares of Shore Bancshares by 599.2% in the 1st quarter. AQR Capital Management LLC now owns 112,259 shares of the bank’s stock valued at $1,520,000 after purchasing an additional 96,204 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Shore Bancshares by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,226 shares of the bank’s stock valued at $247,000 after purchasing an additional 780 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Shore Bancshares by 18.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 219,494 shares of the bank’s stock worth $2,972,000 after purchasing an additional 34,453 shares during the last quarter. Finally, Empowered Funds LLC boosted its position in shares of Shore Bancshares by 126.5% in the 1st quarter. Empowered Funds LLC now owns 78,095 shares of the bank’s stock worth $1,057,000 after purchasing an additional 43,613 shares during the last quarter. 59.76% of the stock is owned by institutional investors.

Shore Bancshares Price Performance

Shares of SHBI stock opened at $17.72 on Friday. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.15. Shore Bancshares Inc has a 12-month low of $11.47 and a 12-month high of $20.68. The firm has a fifty day moving average of $18.78 and a 200-day moving average of $17.54. The firm has a market capitalization of $592.20 million, a price-to-earnings ratio of 9.96 and a beta of 0.90.

Shore Bancshares (NASDAQ:SHBI) last issued its quarterly earnings data on Wednesday, January 28th. The bank reported $0.52 EPS for the quarter, topping the consensus estimate of $0.48 by $0.04. The business had revenue of $59.20 million for the quarter, compared to the consensus estimate of $57.55 million. Shore Bancshares had a return on equity of 11.50% and a net margin of 17.36%. On average, equities research analysts forecast that Shore Bancshares Inc will post 1.59 earnings per share for the current year.

Shore Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Stockholders of record on Wednesday, March 4th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, March 4th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.7%. Shore Bancshares’s dividend payout ratio (DPR) is currently 26.97%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Keefe, Bruyette & Woods upped their price objective on Shore Bancshares from $18.00 to $20.00 and gave the company an “outperform” rating in a report on Monday, February 2nd. Weiss Ratings upgraded Shore Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, February 17th. Finally, Hovde Group boosted their target price on Shore Bancshares from $19.00 to $22.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 3rd. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.17.

Insider Activity at Shore Bancshares

In other Shore Bancshares news, Director William E. Esham III acquired 5,000 shares of the business’s stock in a transaction dated Thursday, February 5th. The shares were acquired at an average price of $19.99 per share, for a total transaction of $99,950.00. Following the acquisition, the director directly owned 5,510 shares of the company’s stock, valued at approximately $110,144.90. This trade represents a 980.39% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 8.69% of the stock is currently owned by corporate insiders.

Shore Bancshares Company Profile

Shore Bancshares, Inc (NASDAQ: SHBI) is the bank holding company for Shore Community Bank, a commercial bank headquartered in Mount Holly, New Jersey. The company provides a full suite of banking and financial services to individuals and businesses, including deposit accounts, consumer and commercial lending, mortgage financing, and cash management solutions. Through its branch network, Shore Bancshares focuses on delivering community-oriented banking services with an emphasis on personalized customer relationships.

Shore Community Bank’s lending portfolio includes commercial real estate, construction loans, agricultural loans, small business loans under government-sponsored programs, and conventional residential mortgages.