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

Shore Bancshares Inc (NASDAQ:SHBI) EVP Aaron Michael Kaslow bought 6,500 shares of the business’s stock in a transaction that occurred on Tuesday, November 18th. The stock was purchased at an average cost of $15.56 per share, for a total transaction of $101,140.00. Following the completion of the transaction, the executive vice president directly owned 6,500 shares in the company, valued at approximately $101,140. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Shore Bancshares Trading Up 1.9%

Shore Bancshares stock traded up $0.30 during midday trading on Friday, reaching $16.38. The stock had a trading volume of 68,226 shares, compared to its average volume of 164,130. The stock has a market capitalization of $547.57 million, a PE ratio of 9.65 and a beta of 1.10. 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 stock’s 50-day simple moving average is $16.20 and its 200 day simple moving average is $15.86. Shore Bancshares Inc has a twelve month low of $11.47 and a twelve month high of $17.67.

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

Shore Bancshares Announces Dividend

The firm 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. This represents a $0.48 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Thursday, November 13th. Shore Bancshares’s dividend payout ratio is 28.24%.

Wall Street Analysts Forecast Growth

SHBI has been the topic of a number of recent research reports. Zacks Research cut Shore Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 26th. Piper Sandler boosted their price target on Shore Bancshares from $18.00 to $18.50 and gave the stock an “overweight” rating in a research report on Friday, November 14th. Hovde Group initiated coverage on Shore Bancshares in a report on Wednesday. They issued an “outperform” rating and a $19.00 price target for the company. Wall Street Zen lowered shares of Shore Bancshares from a “buy” rating to a “hold” rating in a research note on Saturday, October 25th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Shore Bancshares in a report on Wednesday, October 8th. 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 currently has an average rating of “Moderate Buy” and a consensus target price of $19.17.

Institutional Investors Weigh In On Shore Bancshares

Several hedge funds and other institutional investors have recently modified their holdings of SHBI. IFP Advisors Inc lifted its position 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 worth $25,000 after purchasing an additional 1,566 shares during the last quarter. EverSource Wealth Advisors LLC acquired a new stake in Shore Bancshares during the second quarter valued at approximately $31,000. PNC Financial Services Group Inc. lifted its holdings in Shore Bancshares by 108.4% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,020 shares of the bank’s stock worth $47,000 after buying an additional 1,571 shares during the last quarter. Federated Hermes Inc. boosted 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 worth $57,000 after purchasing an additional 2,179 shares during the period. Finally, Financial Consulate Inc. bought a new stake in Shore Bancshares during the third quarter valued at $71,000. Institutional investors own 59.76% of the company’s stock.

About Shore Bancshares

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.