Shore Bancshares, Inc. (NASDAQ:SHBI) Short Interest Update

Shore Bancshares, Inc. (NASDAQ:SHBI) was the target of a significant growth in short interest in the month of July. As of July 15th, there was short interest totalling 199,700 shares, a growth of 34.6% from the June 30th total of 148,400 shares. Based on an average daily volume of 89,800 shares, the short-interest ratio is currently 2.2 days.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods boosted their price objective on Shore Bancshares from $13.00 to $15.00 and gave the stock a “market perform” rating in a report on Friday.

Insider Buying and Selling

In other news, Director Clyde V. Kelly III acquired 5,000 shares of Shore Bancshares stock in a transaction dated Thursday, May 9th. The stock was bought at an average price of $11.19 per share, for a total transaction of $55,950.00. Following the completion of the acquisition, the director now directly owns 23,888 shares in the company, valued at approximately $267,306.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 8.57% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Shore Bancshares

Institutional investors have recently made changes to their positions in the stock. Sandy Spring Bank bought a new stake in shares of Shore Bancshares in the fourth quarter valued at approximately $1,704,000. SG Americas Securities LLC raised its position in Shore Bancshares by 27.3% during the fourth quarter. SG Americas Securities LLC now owns 16,248 shares of the bank’s stock valued at $232,000 after purchasing an additional 3,485 shares in the last quarter. Empowered Funds LLC raised its position in Shore Bancshares by 8.1% during the first quarter. Empowered Funds LLC now owns 130,246 shares of the bank’s stock valued at $1,498,000 after purchasing an additional 9,800 shares in the last quarter. Black Maple Capital Management LP raised its position in Shore Bancshares by 18.0% during the fourth quarter. Black Maple Capital Management LP now owns 25,028 shares of the bank’s stock valued at $357,000 after purchasing an additional 3,821 shares in the last quarter. Finally, Gendell Jeffrey L raised its position in Shore Bancshares by 17.1% during the fourth quarter. Gendell Jeffrey L now owns 273,410 shares of the bank’s stock valued at $3,896,000 after purchasing an additional 40,000 shares in the last quarter. 59.76% of the stock is currently owned by institutional investors.

Shore Bancshares Stock Performance

Shares of NASDAQ:SHBI traded up $0.20 during trading on Friday, reaching $14.64. 144,234 shares of the stock were exchanged, compared to its average volume of 114,481. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.08. The firm has a market cap of $486.40 million, a PE ratio of 25.24 and a beta of 0.97. The stock has a 50-day moving average price of $11.61 and a 200-day moving average price of $11.48. Shore Bancshares has a 12 month low of $9.66 and a 12 month high of $14.99.

Shore Bancshares (NASDAQ:SHBI) last issued its quarterly earnings results on Thursday, May 2nd. The bank reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.08. The business had revenue of $47.78 million during the quarter, compared to analysts’ expectations of $49.88 million. Shore Bancshares had a return on equity of 8.42% and a net margin of 7.18%.

Shore Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Thursday, May 16th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 3.28%. The ex-dividend date of this dividend was Wednesday, May 15th. Shore Bancshares’s dividend payout ratio (DPR) is currently 82.76%.

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.