Quantinno Capital Management LP Purchases 23,196 Shares of Shore Bancshares Inc $SHBI

Quantinno Capital Management LP lifted its holdings in Shore Bancshares Inc (NASDAQ:SHBI) by 54.4% during the first quarter, Holdings Channel.com reports. The institutional investor owned 65,811 shares of the bank’s stock after acquiring an additional 23,196 shares during the quarter. Quantinno Capital Management LP’s holdings in Shore Bancshares were worth $1,229,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. PNC Financial Services Group Inc. increased its position in shares of Shore Bancshares by 20.1% during the first quarter. PNC Financial Services Group Inc. now owns 4,448 shares of the bank’s stock valued at $83,000 after acquiring an additional 743 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Shore Bancshares by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,226 shares of the bank’s stock worth $247,000 after purchasing an additional 780 shares during the last quarter. Curi Capital LLC boosted its position in Shore Bancshares by 0.5% in the second quarter. Curi Capital LLC now owns 176,046 shares of the bank’s stock worth $2,767,000 after purchasing an additional 882 shares during the last quarter. Man Group plc boosted its position in Shore Bancshares by 5.0% in the fourth quarter. Man Group plc now owns 19,053 shares of the bank’s stock worth $337,000 after purchasing an additional 903 shares during the last quarter. Finally, Mariner LLC grew its stake in Shore Bancshares by 8.1% in the 4th quarter. Mariner LLC now owns 14,222 shares of the bank’s stock valued at $251,000 after purchasing an additional 1,069 shares during the period. 59.76% of the stock is owned by institutional investors.

Shore Bancshares Stock Up 0.1%

SHBI stock opened at $23.97 on Friday. 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 company has a market capitalization of $799.88 million, a price-to-earnings ratio of 12.11 and a beta of 0.81. 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 fifty day moving average of $23.10 and a 200-day moving average of $20.58.

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

Shore Bancshares announced that its board has initiated a stock repurchase plan on Thursday, May 21st that allows the company to repurchase $30.00 million in outstanding shares. This repurchase authorization allows the bank to buy up to 4.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Shore Bancshares Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Wednesday, June 3rd were given a dividend of $0.14 per share. This is a boost from Shore Bancshares’s previous quarterly dividend of $0.12. This represents a $0.56 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date was Wednesday, June 3rd. Shore Bancshares’s dividend payout ratio (DPR) is 28.28%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on SHBI shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Shore Bancshares in a research report on Friday, July 17th. Zacks Research lowered shares of Shore Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 30th. Piper Sandler raised their price objective on shares of Shore Bancshares from $24.00 to $26.50 and gave the stock an “overweight” rating in a report on Monday, July 27th. Keefe, Bruyette & Woods lifted their price objective on shares of Shore Bancshares from $22.00 to $25.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 28th. Finally, Hovde Group increased their target price on shares of Shore Bancshares from $23.50 to $26.50 and gave the company an “outperform” rating in a research report on Monday, July 27th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Shore Bancshares has an average rating of “Moderate Buy” and an average price target of $26.00.

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.