Quantinno Capital Management LP Has $1.23 Million Stock Holdings in Shore Bancshares Inc $SHBI

Quantinno Capital Management LP raised its stake in Shore Bancshares Inc (NASDAQ:SHBI) by 54.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 65,811 shares of the bank’s stock after purchasing an additional 23,196 shares during the period. Quantinno Capital Management LP owned 0.20% of Shore Bancshares worth $1,229,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC acquired a new stake in shares of Shore Bancshares in the 2nd quarter valued at about $31,000. Geneos Wealth Management Inc. acquired a new position in Shore Bancshares during the 4th quarter worth approximately $48,000. Tower Research Capital LLC TRC raised its stake in Shore Bancshares by 239.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,500 shares of the bank’s stock worth $71,000 after buying an additional 3,173 shares during the period. State of Alaska Department of Revenue raised its stake in Shore Bancshares by 207.4% during the 4th quarter. State of Alaska Department of Revenue now owns 4,138 shares of the bank’s stock worth $72,000 after buying an additional 2,792 shares during the period. Finally, State of Wyoming boosted its holdings in Shore Bancshares by 150.6% in the second quarter. State of Wyoming now owns 4,682 shares of the bank’s stock worth $74,000 after acquiring an additional 2,814 shares in the last quarter. Institutional investors and hedge funds own 59.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Weiss Ratings reissued a “buy (b)” rating on shares of Shore Bancshares in a research note on Friday, July 17th. Hovde Group upped their target price on Shore Bancshares from $23.50 to $26.50 and gave the stock an “outperform” rating in a research report on Monday, July 27th. Zacks Research cut Shore Bancshares from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 30th. Piper Sandler lifted their price target on shares of Shore Bancshares from $24.00 to $26.50 and gave the company an “overweight” rating in a research report on Monday, July 27th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Shore Bancshares from $22.00 to $25.00 and gave the company a “market perform” rating in a research report on Tuesday, July 28th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $26.00.

Shore Bancshares Price Performance

Shares of NASDAQ SHBI opened at $23.97 on Friday. Shore Bancshares Inc has a fifty-two week low of $14.93 and a fifty-two week high of $24.89. The stock has a market cap of $799.88 million, a price-to-earnings ratio of 12.11 and a beta of 0.81. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.94 and a current ratio of 0.95. The firm’s 50-day simple moving average is $23.10 and its 200 day simple moving average is $20.58.

Shore Bancshares (NASDAQ:SHBI) last released its quarterly earnings results on Thursday, July 23rd. The bank reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.10. The business had revenue of $61.75 million during the quarter, compared to the consensus estimate of $60.42 million. Shore Bancshares had a return on equity of 12.11% and a net margin of 19.15%. As a group, research analysts anticipate that Shore Bancshares Inc will post 2.26 earnings per share for the current fiscal year.

Shore Bancshares Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Wednesday, June 3rd were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Wednesday, June 3rd. This is a positive change from Shore Bancshares’s previous quarterly dividend of $0.12. This represents a $0.56 annualized dividend and a dividend yield of 2.3%. Shore Bancshares’s payout ratio is presently 28.28%.

Shore Bancshares announced that its board has approved a share repurchase plan on Thursday, May 21st that authorizes the company to repurchase $30.00 million in shares. This repurchase authorization authorizes the bank to repurchase up to 4.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.

About Shore Bancshares

Shore Bancshares, Inc (NASDAQ: SHBI) is the bank holding company for Shore Community Bank, a commercial bank headquartered in Mount Holly, New Jersey. The company provides a full suite of banking and financial services to individuals and businesses, including deposit accounts, consumer and commercial lending, mortgage financing, and cash management solutions. Through its branch network, Shore Bancshares focuses on delivering community-oriented banking services with an emphasis on personalized customer relationships.

Shore Community Bank’s lending portfolio includes commercial real estate, construction loans, agricultural loans, small business loans under government-sponsored programs, and conventional residential mortgages.