Segall Bryant & Hamill LLC Grows Stock Holdings in Shore Bancshares Inc $SHBI

Segall Bryant & Hamill LLC increased its stake in Shore Bancshares Inc (NASDAQ:SHBI) by 12.8% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 136,907 shares of the bank’s stock after buying an additional 15,518 shares during the period. Segall Bryant & Hamill LLC owned 0.41% of Shore Bancshares worth $2,152,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. IFP Advisors Inc raised its stake in 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 buying an additional 1,566 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Shore Bancshares by 108.4% during the second quarter. PNC Financial Services Group Inc. now owns 3,020 shares of the bank’s stock valued at $47,000 after acquiring an additional 1,571 shares in the last quarter. AlphaQuest LLC purchased a new position in shares of Shore Bancshares in the 1st quarter worth about $145,000. Stoneridge Investment Partners LLC purchased a new position in shares of Shore Bancshares in the 1st quarter worth about $158,000. Finally, Russell Investments Group Ltd. boosted its stake in Shore Bancshares by 52.6% in the 1st quarter. Russell Investments Group Ltd. now owns 12,590 shares of the bank’s stock worth $170,000 after purchasing an additional 4,339 shares in the last quarter. Institutional investors own 59.76% of the company’s stock.

Analyst Upgrades and Downgrades

SHBI has been the subject of a number of analyst reports. Zacks Research lowered shares of Shore Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 26th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Shore Bancshares in a research note on Wednesday, October 8th. Hovde Group began coverage on shares of Shore Bancshares in a research report on Wednesday, November 19th. They set an “outperform” rating and a $19.00 price target for the company. Piper Sandler boosted their price objective on shares of Shore Bancshares from $18.00 to $18.50 and gave the stock an “overweight” rating in a report on Friday, November 14th. Finally, Wall Street Zen cut Shore Bancshares from a “buy” rating to a “hold” rating in a research report on Saturday, October 25th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $19.17.

Shore Bancshares Stock Performance

Shares of NASDAQ SHBI opened at $16.63 on Tuesday. The firm’s 50-day moving average price is $16.19 and its 200-day moving average price is $15.91. Shore Bancshares Inc has a 52-week low of $11.47 and a 52-week high of $17.67. The company has a market cap of $555.89 million, a PE ratio of 9.78 and a beta of 1.10. 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 issued its quarterly earnings data on Monday, September 19th. The bank reported $0.37 earnings per share for the quarter. Shore Bancshares had a net margin of 16.78% and a return on equity of 11.37%. The company had revenue of $16.91 million for the quarter. As a group, analysts anticipate that Shore Bancshares Inc will post 1.59 EPS for the current year.

Shore Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Thursday, November 13th will be issued 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 of this dividend is Thursday, November 13th. Shore Bancshares’s dividend payout ratio is presently 28.24%.

Insider Activity

In other news, EVP Aaron Michael Kaslow acquired 6,500 shares of the business’s stock in a transaction that occurred on Tuesday, November 18th. The stock was bought at an average price of $15.56 per share, with a total value of $101,140.00. Following the completion of the acquisition, the executive vice president directly owned 6,500 shares of the company’s stock, valued at approximately $101,140. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.69% of the stock is currently owned by company insiders.

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.