Insider Buying: Shore Bancshares, Inc. (NASDAQ:SHBI) Director Acquires $55,950.00 in Stock

Shore Bancshares, Inc. (NASDAQ:SHBIGet Free Report) Director Clyde V. Kelly III acquired 5,000 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was bought at an average price of $11.19 per share, with a total value of $55,950.00. Following the completion of the acquisition, the director now directly owns 23,888 shares of the company’s stock, valued at $267,306.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Shore Bancshares Stock Up 2.6 %

Shares of Shore Bancshares stock opened at $11.67 on Friday. Shore Bancshares, Inc. has a 12-month low of $9.66 and a 12-month high of $14.51. The firm has a market capitalization of $387.56 million, a PE ratio of 20.12 and a beta of 0.94. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.08. The stock’s fifty day moving average is $10.89 and its 200-day moving average is $11.90.

Shore Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Thursday, May 16th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 4.11%. The ex-dividend date of this dividend is Wednesday, May 15th. Shore Bancshares’s dividend payout ratio (DPR) is currently 82.76%.

Wall Street Analyst Weigh In

SHBI has been the subject of several research reports. TheStreet cut Shore Bancshares from a “b-” rating to a “c+” rating in a research note on Thursday, February 29th. StockNews.com raised shares of Shore Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday, February 1st. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Shore Bancshares from $14.00 to $13.00 and set a “market perform” rating on the stock in a report on Friday, May 3rd.

View Our Latest Report on SHBI

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Black Maple Capital Management LP boosted its position in Shore Bancshares by 20.0% during the first quarter. Black Maple Capital Management LP now owns 30,028 shares of the bank’s stock valued at $345,000 after purchasing an additional 5,000 shares during the last quarter. Gendell Jeffrey L raised its stake in shares of Shore Bancshares by 3.7% during the 1st quarter. Gendell Jeffrey L now owns 283,410 shares of the bank’s stock worth $3,259,000 after purchasing an additional 10,000 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Shore Bancshares by 12.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 57,086 shares of the bank’s stock worth $657,000 after purchasing an additional 6,321 shares in the last quarter. Quadrature Capital Ltd bought a new stake in shares of Shore Bancshares in the 1st quarter valued at approximately $200,000. Finally, Vanguard Group Inc. increased its holdings in Shore Bancshares by 0.7% in the first quarter. Vanguard Group Inc. now owns 1,619,605 shares of the bank’s stock worth $18,625,000 after buying an additional 11,544 shares during the last quarter. 59.76% of the stock is owned by institutional investors and hedge funds.

Shore Bancshares Company Profile

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for Shore Bancshares (NASDAQ:SHBI)

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