Y Intercept Hong Kong Ltd Acquires Shares of 13,979 Shore Bancshares Inc $SHBI

Y Intercept Hong Kong Ltd bought a new position in shares of Shore Bancshares Inc (NASDAQ:SHBI) in the second quarter, Holdings Channel reports. The firm bought 13,979 shares of the bank’s stock, valued at approximately $220,000.

Several other institutional investors and hedge funds also recently made changes to their positions in SHBI. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position 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 worth $247,000 after purchasing an additional 780 shares during the last quarter. CWM LLC lifted its stake in Shore Bancshares by 1.4% in the first quarter. CWM LLC now owns 59,878 shares of the bank’s stock valued at $811,000 after buying an additional 843 shares during the period. IFP Advisors Inc grew its position in shares of 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 buying an additional 1,566 shares during the period. Royal Bank of Canada increased its stake in shares of Shore Bancshares by 21.8% in the 1st quarter. Royal Bank of Canada now owns 23,168 shares of the bank’s stock valued at $314,000 after acquiring an additional 4,154 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its position in shares of Shore Bancshares by 52.6% in the 1st quarter. Russell Investments Group Ltd. now owns 12,590 shares of the bank’s stock valued at $170,000 after acquiring an additional 4,339 shares during the period. Institutional investors own 59.76% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on SHBI shares. Wall Street Zen lowered shares of Shore Bancshares from a “buy” rating to a “hold” rating in a research note on Saturday, October 25th. Zacks Research lowered shares of Shore Bancshares from a “strong-buy” rating to a “hold” rating in a report on Friday, September 26th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Shore Bancshares in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.00.

Shore Bancshares Price Performance

Shares of SHBI opened at $16.03 on Friday. The stock has a 50 day simple moving average of $16.39 and a 200 day simple moving average of $15.72. Shore Bancshares Inc has a 52-week low of $11.47 and a 52-week high of $17.67. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.94 and a current ratio of 0.94. The firm has a market capitalization of $535.83 million, a PE ratio of 9.43 and a beta of 1.10.

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

Shore Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Thursday, November 13th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Thursday, November 13th. Shore Bancshares’s payout ratio is currently 28.24%.

Shore Bancshares 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.