Shore Bancshares, Inc. (NASDAQ:SHBI) Short Interest Up 20.0% in April

() has seen a notable increase in short interest for the month of the April. On April 15th there were 195,200 short shares. This is a 20.0% increase from 162,700 on March 31st. The days-to-cover is currently 2.6 days based on a daily average trading volume of 75,100 share.

Shore Bancshares stock up 1.0 %

Trading hours were held on Friday and the stock reached $13.28. The company's shares traded 35,796 times, as opposed to the average of 66,273. The stock's market cap is $264.25m, with a P/E ratio of 8.25. It also has a beta value of 0.88. The company's quick ratio is 0.86, its current ratio is 0.86, and it has a debt to equity ratio of 0.23. The fifty-day simple moving is $14.84, and the two hundred day simple is $17.12. The last time ) announced its quarterly results was on Thursday 26th January. The bank's earnings per share were $0.46, which was $0.03 below the consensus estimate ($0.04). Revenue for the firm was $32.84 millions, which is lower than the consensus estimate ($33.47 million). Shore Bancshares' net margin was 21.79%, and its return on equity was 9.36%. Analysts expect Shore Bancshares to post an average of 1.88 earnings per share for the current fiscal year.

Shore Bancshares Announces Dividend

A quarterly dividend was also declared by the company and paid out on February 28th. Investors who had their shares registered on the Saturday, February 18, received a $0.12 dividend per share. This is a $0.48 dividend annualized and a yield of 3.61%. This dividend became payable on Thursday, 16th February. Shore Bancshares has a current dividend payout ratio of 29.81%.

Analysts set new price targets

In a report published on Thursday 16th March, Shore Bancshares shares were covered. They assigned the company a rating of 'hold.' Keefe, Bruyette & Woods lowered its target price for shares of Shore Bancshares, from $18.00 down to $16.00, and gave the company a market perform' rating in a report published on Thursday, 6th April.

Insider Activities

Dawn M. Willey, the director of the company, bought 4,000 shares in a transaction that took place on Thursday, 2nd February. Stock was purchased at an average price of $17.84 a share for a transaction totaling $71,360.00. After the completion of the purchase, the director owns 17,078 company shares, worth approximately $304,671.52. Insider Lloyd L. Beatty, Jr. purchased 1,500 shares in a deal on February 7th. Stock was purchased at a cost of average $18.01 per stock, totaling $27,015.00. After the completion of this acquisition, the insider owns approximately 2,058,290.86 worth of stock. Dawn M. Willey, a director, also acquired 4,000 shares in a transaction that took place on Thursday, 2nd February. Stock was purchased at a price of $17.84 a share with a value of $71,360.00. After the acquisition was completed, the director owns directly 17,078 shares worth $304,671.52 of the company stock. Insiders purchased 6,903 company shares valued at $12,436 in the past three months. Insiders own 11.10%.

Institutional investors weigh in on Shore Bancshares

Recently, several institutional investors and hedge fund have made changes to the positions they hold in the company. FJ Capital Management LLC increased the shares it owns of Shore Bancshares during the fourth-quarter by 0.5%. FJ Capital Management LLC owns now 1,880.651 shares valued at $32,780,000, after adding 9,651 more shares during the last quarter. BlackRock Inc. increased its stake in Shore Bancshares in the third quarter by 2.5%. BlackRock Inc. owns 1,091,763 of the bank’s shares worth $18,910,000, after buying an additional 26,460 during the period. Dimensional Fund Advisors LP increased its stake in Shore Bancshares in the fourth quarter by 4.6%. Dimensional Fund Advisors LP owns 818.943 shares worth $14.274,000 of the bank stock after buying an additional 35.910 shares. Vanguard Group Inc. increased its stake in Shore Bancshares in the first quarter by 0.4%. Vanguard Group Inc. owns now 762,599 of the bank’s stock valued at $15,618,000, after buying an additional 3,034 during the period. In the fourth quarter, The Manufacturers Life Insurance Company increased its stake in Shore Bancshares. The Manufacturers Life Insurance Company owns 665 900 shares of bank stock, worth $11,607,000. This is after buying an additional 29,776 during this period. Institutional investors hold 60.45% the stock of the company.

Shore Bancshares Company profile

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Shore Bancshares, Inc. is a financial holding firm that provides commercial banking services and products to both individuals and businesses. Its services include checking and savings accounts, home improvement and installment loans, credit cards and personal lines of credits, consumer loans and automobile financing, safe deposit box, debit cards, 24 hour telephone banking, Internet banking, mobile banking and 24-hour automated teller machine service.

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