Tudor Investment Corp ET AL Sells 27,093 Shares of Shore Bancshares Inc $SHBI

Tudor Investment Corp ET AL trimmed its stake in Shore Bancshares Inc (NASDAQ:SHBI) by 58.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,928 shares of the bank’s stock after selling 27,093 shares during the quarter. Tudor Investment Corp ET AL owned approximately 0.06% of Shore Bancshares worth $311,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. IFP Advisors Inc increased its holdings in Shore Bancshares by 98.9% during the third quarter. IFP Advisors Inc now owns 3,124 shares of the bank’s stock worth $51,000 after buying an additional 1,553 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in shares of Shore Bancshares during the 3rd quarter worth about $275,000. Millennium Management LLC increased its stake in shares of Shore Bancshares by 123.1% during the 3rd quarter. Millennium Management LLC now owns 74,526 shares of the bank’s stock worth $1,223,000 after purchasing an additional 41,118 shares during the last quarter. HoldCo Asset Management LP raised its holdings in shares of Shore Bancshares by 3.7% in the 3rd quarter. HoldCo Asset Management LP now owns 278,114 shares of the bank’s stock valued at $4,564,000 after purchasing an additional 10,000 shares during the period. Finally, Bank of America Corp DE raised its holdings in shares of Shore Bancshares by 20.9% in the 3rd quarter. Bank of America Corp DE now owns 70,672 shares of the bank’s stock valued at $1,160,000 after purchasing an additional 12,200 shares during the period. Institutional investors own 59.76% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on SHBI shares. Keefe, Bruyette & Woods lifted their price target on Shore Bancshares from $18.00 to $20.00 and gave the stock an “outperform” rating in a report on Monday, February 2nd. Weiss Ratings lowered Shore Bancshares from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, March 19th. Finally, Hovde Group raised their price objective on Shore Bancshares from $19.00 to $22.00 and gave the company an “outperform” rating in a research report on Tuesday, February 3rd. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.17.

Insider Transactions at Shore Bancshares

In related news, Director William E. Esham III acquired 5,000 shares of the stock in a transaction that occurred on Thursday, February 5th. The stock was acquired at an average cost of $19.99 per share, for a total transaction of $99,950.00. Following the transaction, the director directly owned 5,510 shares in the company, valued at $110,144.90. This trade represents a 980.39% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.69% of the stock is currently owned by corporate insiders.

Shore Bancshares Stock Up 0.6%

Shares of NASDAQ SHBI opened at $18.79 on Thursday. The stock has a market capitalization of $627.96 million, a P/E ratio of 10.56 and a beta of 0.85. The stock’s fifty day moving average is $18.80 and its 200 day moving average is $17.64. Shore Bancshares Inc has a 52 week low of $11.47 and a 52 week high of $20.68. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.94 and a current ratio of 0.95.

Shore Bancshares (NASDAQ:SHBI) last released its earnings results on Wednesday, January 28th. The bank reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.04. The firm had revenue of $59.20 million during the quarter, compared to analysts’ expectations of $57.55 million. Shore Bancshares had a return on equity of 11.50% and a net margin of 17.36%. 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 was paid on Wednesday, March 18th. Investors of record on Wednesday, March 4th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, March 4th. This represents a $0.48 annualized dividend and a dividend yield of 2.6%. Shore Bancshares’s payout ratio is 26.97%.

Shore Bancshares 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.