Los Angeles Capital Management LLC Has $1.13 Million Position in Shore Bancshares Inc $SHBI

Los Angeles Capital Management LLC grew its holdings in Shore Bancshares Inc (NASDAQ:SHBI) by 144.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 72,131 shares of the bank’s stock after buying an additional 42,587 shares during the quarter. Los Angeles Capital Management LLC owned approximately 0.22% of Shore Bancshares worth $1,134,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in SHBI. Atlantic Union Bankshares Corp acquired a new position in Shore Bancshares during the 2nd quarter worth about $8,622,000. Y Intercept Hong Kong Ltd bought a new position in shares of Shore Bancshares in the second quarter worth about $220,000. AlphaQuest LLC raised its stake in shares of Shore Bancshares by 75.2% in the second quarter. AlphaQuest LLC now owns 18,728 shares of the bank’s stock worth $294,000 after acquiring an additional 8,039 shares during the last quarter. CWM LLC lifted its position in shares of Shore Bancshares by 8.2% during the second quarter. CWM LLC now owns 64,777 shares of the bank’s stock worth $1,018,000 after purchasing an additional 4,899 shares in the last quarter. Finally, IFP Advisors Inc grew its stake in shares of Shore Bancshares by 31,320.0% during the second quarter. IFP Advisors Inc now owns 1,571 shares of the bank’s stock valued at $25,000 after purchasing an additional 1,566 shares during the last quarter. 59.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Shore Bancshares Stock Performance

Shares of Shore Bancshares stock opened at $16.36 on Thursday. The firm has a fifty day moving average of $16.35 and a two-hundred day moving average of $15.79. The stock has a market capitalization of $546.87 million, a price-to-earnings ratio of 9.62 and a beta of 1.10. 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.

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

Shore Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Thursday, November 13th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Thursday, November 13th. Shore Bancshares’s payout ratio is presently 28.24%.

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.