Hancock Holding Co. acquired a new position in shares of Shore Bancshares, Inc. (NASDAQ:SHBI) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 15,555 shares of the bank’s stock, valued at approximately $293,000. Hancock Holding Co. owned about 0.12% of Shore Bancshares at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. MML Investors Services LLC purchased a new stake in shares of Shore Bancshares during the 4th quarter worth $195,000. Mackay Shields LLC acquired a new position in Shore Bancshares during the 1st quarter valued at about $275,000. Allianz Asset Management GmbH acquired a new position in Shore Bancshares during the 4th quarter valued at about $278,000. Stone Ridge Asset Management LLC acquired a new position in Shore Bancshares during the 4th quarter valued at about $289,000. Finally, Bailard Inc. acquired a new position in Shore Bancshares during the 4th quarter valued at about $438,000. Hedge funds and other institutional investors own 67.79% of the company’s stock.
Separately, BidaskClub raised Shore Bancshares from a “hold” rating to a “buy” rating in a research report on Saturday.
Shares of Shore Bancshares opened at $19.78 on Friday, MarketBeat reports. Shore Bancshares, Inc. has a 1 year low of $15.17 and a 1 year high of $20.09. The stock has a market cap of $251.02 million, a P/E ratio of 18.42 and a beta of 0.24.
Shore Bancshares (NASDAQ:SHBI) last announced its earnings results on Thursday, April 19th. The bank reported $0.32 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.02). Shore Bancshares had a net margin of 18.32% and a return on equity of 8.39%. The business had revenue of $17.26 million for the quarter.
The firm also recently announced a quarterly dividend, which was paid on Thursday, May 31st. Investors of record on Tuesday, May 15th were given a dividend of $0.08 per share. This is a positive change from Shore Bancshares’s previous quarterly dividend of $0.07. This represents a $0.32 annualized dividend and a yield of 1.62%. The ex-dividend date of this dividend was Monday, May 14th.
Shore Bancshares Company Profile
Shore Bancshares, Inc operates as a bank holding company for the Shore United Bank that provides various commercial banking products and services to individuals, businesses, and other organizations. The company operates through two segments, Community Banking, and Insurance Products and Services. It offers various deposit products, including checking, savings, and money market accounts; and regular and IRA certificates of deposit, as well as CDARS programs and cash management services.
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