Los Angeles Capital Management LLC Purchases 42,587 Shares of Shore Bancshares Inc $SHBI

Los Angeles Capital Management LLC grew its position in Shore Bancshares Inc (NASDAQ:SHBI) by 144.1% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 72,131 shares of the bank’s stock after acquiring an additional 42,587 shares during the period. Los Angeles Capital Management LLC’s holdings in Shore Bancshares were worth $1,134,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. IFP Advisors Inc lifted its holdings in 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 acquiring an additional 1,566 shares in the last quarter. AlphaQuest LLC bought a new stake in shares of Shore Bancshares in the first quarter worth about $145,000. Stoneridge Investment Partners LLC acquired a new stake in shares of Shore Bancshares during the first quarter worth about $158,000. Russell Investments Group Ltd. lifted its holdings in shares of Shore Bancshares by 52.6% during the 1st quarter. Russell Investments Group Ltd. now owns 12,590 shares of the bank’s stock valued at $170,000 after purchasing an additional 4,339 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of Shore Bancshares in the 2nd quarter valued at approximately $220,000. Institutional investors own 59.76% of the company’s stock.

Shore Bancshares Trading Down 0.3%

NASDAQ:SHBI opened at $16.36 on Thursday. The company has a market cap of $546.87 million, a P/E ratio of 9.62 and a beta of 1.10. Shore Bancshares Inc has a twelve month low of $11.47 and a twelve month high of $17.67. The business has a 50 day moving average price of $16.35 and a two-hundred day moving average price of $15.79. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.22.

Shore Bancshares (NASDAQ:SHBI) last posted its quarterly earnings data on Monday, September 19th. The bank reported $0.37 earnings per share (EPS) for the quarter. The company 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%. As a group, analysts expect that Shore Bancshares Inc will post 1.59 EPS for the current fiscal year.

Shore Bancshares Announces Dividend

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

Analyst Upgrades and Downgrades

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

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.