Shore Bancshares (NASDAQ:SHBI – Free Report) had its price objective trimmed by Keefe, Bruyette & Woods from $14.00 to $13.00 in a research report report published on Friday, Benzinga reports. The brokerage currently has a market perform rating on the bank’s stock.
A number of other equities analysts have also commented on the stock. TheStreet lowered shares of Shore Bancshares from a b- rating to a c+ rating in a report on Thursday, February 29th. StockNews.com raised shares of Shore Bancshares from a sell rating to a hold rating in a research report on Thursday, February 1st.
View Our Latest Report on SHBI
Shore Bancshares Price Performance
Shore Bancshares Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Thursday, May 16th will be given a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $0.48 annualized dividend and a dividend yield of 4.28%. Shore Bancshares’s dividend payout ratio is 82.76%.
Insider Transactions at Shore Bancshares
In other Shore Bancshares news, Director Dawn M. Willey purchased 10,000 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was bought at an average cost of $11.02 per share, with a total value of $110,200.00. Following the transaction, the director now directly owns 17,500 shares in the company, valued at approximately $192,850. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Dawn M. Willey acquired 10,000 shares of Shore Bancshares stock in a transaction on Tuesday, February 13th. The stock was acquired at an average cost of $11.02 per share, for a total transaction of $110,200.00. Following the purchase, the director now owns 17,500 shares in the company, valued at $192,850. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David S. Jones acquired 8,043 shares of Shore Bancshares stock in a transaction on Thursday, February 8th. The shares were purchased at an average price of $11.01 per share, with a total value of $88,553.43. Following the completion of the purchase, the director now owns 35,235 shares in the company, valued at approximately $387,937.35. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 19,121 shares of company stock valued at $211,067. Company insiders own 8.57% of the company’s stock.
Institutional Trading of Shore Bancshares
A number of large investors have recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new position in Shore Bancshares during the third quarter valued at approximately $134,000. Raymond James & Associates purchased a new position in Shore Bancshares during the third quarter valued at approximately $124,000. Bank of New York Mellon Corp lifted its holdings in Shore Bancshares by 60.5% during the third quarter. Bank of New York Mellon Corp now owns 152,807 shares of the bank’s stock valued at $1,608,000 after purchasing an additional 57,595 shares in the last quarter. Bailard Inc. purchased a new position in Shore Bancshares during the third quarter valued at approximately $278,000. Finally, Signature Estate & Investment Advisors LLC purchased a new position in Shore Bancshares during the third quarter valued at approximately $122,000. 59.76% of the stock is currently owned by institutional investors.
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.
See Also
- Five stocks we like better than Shore Bancshares
- Investing in Commodities: What Are They? How to Invest in Them
- 3 CEO-Led Turnaround Stocks You Can Still Buy
- What does consumer price index measure?
- 3 Value Stocks You Can Buy Before They Become Big
- How to Use the MarketBeat Stock Screener
- Chinese Stocks Stage Impressive Rebound
Receive News & Ratings for Shore Bancshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shore Bancshares and related companies with MarketBeat.com's FREE daily email newsletter.