Globeflex Capital L P Grows Stake in Shore Bancshares Inc (SHBI)
Globeflex Capital L P lifted its position in shares of Shore Bancshares Inc (NASDAQ:SHBI) by 37.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 37,949 shares of the bank’s stock after purchasing an additional 10,402 shares during the period. Globeflex Capital L P owned about 0.30% of Shore Bancshares worth $624,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently added to or reduced their stakes in SHBI. Wellington Management Group LLP grew its holdings in shares of Shore Bancshares by 38.4% during the first quarter. Wellington Management Group LLP now owns 1,233,265 shares of the bank’s stock worth $20,608,000 after purchasing an additional 342,468 shares during the last quarter. Penn Capital Management Co. Inc. bought a new stake in shares of Shore Bancshares during the second quarter worth about $891,000. JPMorgan Chase & Co. grew its holdings in shares of Shore Bancshares by 183.3% during the first quarter. JPMorgan Chase & Co. now owns 79,206 shares of the bank’s stock worth $1,324,000 after purchasing an additional 51,248 shares during the last quarter. Oxford Asset Management bought a new stake in shares of Shore Bancshares during the first quarter worth about $779,000. Finally, Municipal Employees Retirement System of Michigan bought a new stake in shares of Shore Bancshares during the second quarter worth about $686,000. Institutional investors own 67.95% of the company’s stock.
Shares of Shore Bancshares Inc (NASDAQ:SHBI) opened at 16.40 on Thursday. The stock’s 50 day moving average price is $16.53 and its 200 day moving average price is $16.58. The company has a market capitalization of $208.05 million, a PE ratio of 20.65 and a beta of 0.20. Shore Bancshares Inc has a 12-month low of $11.49 and a 12-month high of $17.92.
Shore Bancshares (NASDAQ:SHBI) last announced its quarterly earnings data on Thursday, July 20th. The bank reported $0.21 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.01). The firm had revenue of $15.08 million for the quarter. Shore Bancshares had a net margin of 16.85% and a return on equity of 6.65%. On average, equities research analysts forecast that Shore Bancshares Inc will post $0.93 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 31st. Stockholders of record on Monday, August 14th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, August 10th. This represents a $0.20 annualized dividend and a dividend yield of 1.22%. Shore Bancshares’s dividend payout ratio (DPR) is presently 25.00%.
Shore Bancshares Profile
Shore Bancshares, Inc is a financial holding company. The Company acts as the parent company to several financial institution and insurance entities. The Company has two business segments: Community Banking, and Insurance Products and Services. Its Community Banking segment provides services to consumers and small businesses on the Eastern Shore of Maryland and in Delaware.
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