Corbyn Investment Management Inc. MD Sells 14,466 Shares of Shore Bancshares, Inc. (NASDAQ:SHBI)

Corbyn Investment Management Inc. MD trimmed its position in shares of Shore Bancshares, Inc. (NASDAQ:SHBI) by 8.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 159,475 shares of the bank’s stock after selling 14,466 shares during the quarter. Corbyn Investment Management Inc. MD owned 0.48% of Shore Bancshares worth $2,273,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SHBI. Sandy Spring Bank bought a new stake in Shore Bancshares in the 4th quarter valued at $1,704,000. Bank of New York Mellon Corp lifted its position in Shore Bancshares by 60.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 152,807 shares of the bank’s stock valued at $1,608,000 after acquiring an additional 57,595 shares in the last quarter. Gendell Jeffrey L lifted its position in Shore Bancshares by 89.1% in the 3rd quarter. Gendell Jeffrey L now owns 233,410 shares of the bank’s stock valued at $2,455,000 after acquiring an additional 110,000 shares in the last quarter. Siena Capital Partners GP LLC lifted its position in Shore Bancshares by 609.5% in the 3rd quarter. Siena Capital Partners GP LLC now owns 195,287 shares of the bank’s stock valued at $2,258,000 after acquiring an additional 167,761 shares in the last quarter. Finally, Barclays PLC lifted its position in Shore Bancshares by 17.8% in the 3rd quarter. Barclays PLC now owns 53,049 shares of the bank’s stock valued at $559,000 after acquiring an additional 8,025 shares in the last quarter. 59.76% of the stock is owned by institutional investors.

Insider Activity at Shore Bancshares

In related news, Director David S. Jones purchased 8,043 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were acquired at an average price of $11.01 per share, for a total transaction of $88,553.43. Following the purchase, the director now owns 35,235 shares in the company, valued at $387,937.35. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director David S. Jones purchased 8,043 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were acquired at an average price of $11.01 per share, for a total transaction of $88,553.43. Following the purchase, the director now owns 35,235 shares in the company, valued at $387,937.35. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dawn M. Willey purchased 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The stock was bought at an average price of $11.02 per share, for a total transaction of $110,200.00. Following the purchase, the director now owns 17,500 shares in the company, valued at approximately $192,850. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 19,121 shares of company stock worth $211,067. Insiders own 8.57% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on SHBI. TheStreet cut shares of Shore Bancshares from a “b-” rating to a “c+” rating in a research report on Thursday, February 29th. StockNews.com raised shares of Shore Bancshares from a “sell” rating to a “hold” rating in a research report on Thursday, February 1st.

Shore Bancshares Stock Performance

Shares of Shore Bancshares stock traded down $0.04 during trading on Friday, hitting $10.54. 13,307 shares of the stock were exchanged, compared to its average volume of 79,481. The stock has a market capitalization of $350.03 million, a price-to-earnings ratio of 16.28 and a beta of 0.93. The company has a fifty day moving average price of $11.01 and a 200-day moving average price of $11.82. Shore Bancshares, Inc. has a 1-year low of $9.66 and a 1-year high of $14.51. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.08.

Shore Bancshares (NASDAQ:SHBI) last released its quarterly earnings data on Wednesday, January 31st. The bank reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.01. The company had revenue of $49.15 million for the quarter, compared to analyst estimates of $51.20 million. Shore Bancshares had a net margin of 5.82% and a return on equity of 6.47%. As a group, equities analysts predict that Shore Bancshares, Inc. will post 1.49 EPS for the current fiscal year.

Shore Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 29th. Investors of record on Monday, February 12th were paid a $0.12 dividend. The ex-dividend date was Friday, February 9th. This represents a $0.48 dividend on an annualized basis and a yield of 4.55%. Shore Bancshares’s dividend payout ratio (DPR) is currently 73.85%.

Shore Bancshares Company Profile

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.