Tudor Investment Corp ET AL Has $311,000 Holdings in Shore Bancshares Inc $SHBI

Tudor Investment Corp ET AL trimmed its position in Shore Bancshares Inc (NASDAQ:SHBI) by 58.9% in the third quarter, Holdings Channel reports. The fund owned 18,928 shares of the bank’s stock after selling 27,093 shares during the quarter. Tudor Investment Corp ET AL’s holdings in Shore Bancshares were worth $311,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. EverSource Wealth Advisors LLC acquired a new position in Shore Bancshares in the 2nd quarter worth about $31,000. IFP Advisors Inc raised its position in Shore Bancshares by 98.9% in the third quarter. IFP Advisors Inc now owns 3,124 shares of the bank’s stock valued at $51,000 after purchasing an additional 1,553 shares during the last quarter. Federated Hermes Inc. boosted its stake in shares of Shore Bancshares by 168.7% during the third quarter. Federated Hermes Inc. now owns 3,471 shares of the bank’s stock valued at $57,000 after purchasing an additional 2,179 shares in the last quarter. Financial Consulate Inc. acquired a new stake in shares of Shore Bancshares during the third quarter valued at about $71,000. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Shore Bancshares by 239.1% during the second quarter. Tower Research Capital LLC TRC now owns 4,500 shares of the bank’s stock worth $71,000 after purchasing an additional 3,173 shares during the last quarter. Institutional investors and hedge funds own 59.76% of the company’s stock.

Insider Transactions at Shore Bancshares

In other Shore Bancshares news, Director William E. Esham III purchased 5,000 shares of the business’s stock in a transaction on Thursday, February 5th. The shares were purchased at an average cost of $19.99 per share, for a total transaction of $99,950.00. Following the acquisition, the director owned 5,510 shares of the company’s stock, valued at approximately $110,144.90. This represents a 980.39% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 8.69% of the company’s stock.

Shore Bancshares Stock Performance

Shares of Shore Bancshares stock opened at $18.79 on Thursday. The business has a 50-day moving average price of $18.80 and a two-hundred day moving average price of $17.64. Shore Bancshares Inc has a 1-year low of $11.47 and a 1-year high of $20.68. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.15. The company has a market cap of $627.96 million, a P/E ratio of 10.56 and a beta of 0.85.

Shore Bancshares (NASDAQ:SHBI) last announced its quarterly earnings data on Wednesday, January 28th. The bank reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.04. Shore Bancshares had a return on equity of 11.50% and a net margin of 17.36%.The company had revenue of $59.20 million for the quarter, compared to the consensus estimate of $57.55 million. As a group, analysts anticipate that Shore Bancshares Inc will post 1.59 EPS for the current year.

Shore Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 18th. Shareholders of record on Wednesday, March 4th were paid a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, March 4th. This represents a $0.48 annualized dividend and a yield of 2.6%. Shore Bancshares’s payout ratio is 26.97%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on SHBI. Keefe, Bruyette & Woods upped their target price on Shore Bancshares from $18.00 to $20.00 and gave the company an “outperform” rating in a report on Monday, February 2nd. Weiss Ratings downgraded shares of Shore Bancshares from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, March 19th. Finally, Hovde Group upped their price objective on shares of Shore Bancshares from $19.00 to $22.00 and gave the company an “outperform” rating in a research note on Tuesday, February 3rd. 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 company currently has an average rating of “Moderate Buy” and a consensus price target of $20.17.

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.