Shore Bancshares, Inc. (NASDAQ:SHBI – Get Rating) saw a large drop in short interest in November. As of November 15th, there was short interest totalling 167,300 shares, a drop of 25.2% from the October 31st total of 223,700 shares. Based on an average daily trading volume, of 36,800 shares, the days-to-cover ratio is currently 4.5 days.
Shore Bancshares Stock Up 1.2 %
Shares of NASDAQ:SHBI traded up $0.23 during trading hours on Wednesday, hitting $19.91. The company’s stock had a trading volume of 42,767 shares, compared to its average volume of 68,889. Shore Bancshares has a 52 week low of $17.04 and a 52 week high of $21.41. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.85 and a quick ratio of 0.85. The company has a market capitalization of $395.21 million, a price-to-earnings ratio of 14.95 and a beta of 0.91. The firm’s fifty day moving average price is $18.72 and its 200 day moving average price is $19.08.
Shore Bancshares Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 30th. Stockholders of record on Saturday, November 12th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Wednesday, November 9th. This represents a $0.48 annualized dividend and a dividend yield of 2.41%. Shore Bancshares’s dividend payout ratio is currently 36.64%.
Institutional Investors Weigh In On Shore Bancshares
Several large investors have recently modified their holdings of the business. BNP Paribas Arbitrage SNC raised its holdings in shares of Shore Bancshares by 30.1% in the 3rd quarter. BNP Paribas Arbitrage SNC now owns 5,669 shares of the bank’s stock valued at $98,000 after purchasing an additional 1,311 shares in the last quarter. Alliancebernstein L.P. raised its holdings in shares of Shore Bancshares by 28.0% in the 3rd quarter. Alliancebernstein L.P. now owns 436,269 shares of the bank’s stock valued at $7,556,000 after purchasing an additional 95,332 shares in the last quarter. State Street Corp raised its stake in shares of Shore Bancshares by 21.5% during the 3rd quarter. State Street Corp now owns 278,558 shares of the bank’s stock worth $4,825,000 after acquiring an additional 49,287 shares in the last quarter. Trexquant Investment LP raised its stake in shares of Shore Bancshares by 82.9% during the 3rd quarter. Trexquant Investment LP now owns 31,112 shares of the bank’s stock worth $539,000 after acquiring an additional 14,103 shares in the last quarter. Finally, Prelude Capital Management LLC raised its stake in shares of Shore Bancshares by 33.6% during the 3rd quarter. Prelude Capital Management LLC now owns 18,997 shares of the bank’s stock worth $329,000 after acquiring an additional 4,775 shares in the last quarter. Institutional investors own 61.34% of the company’s stock.
Analyst Ratings Changes
A number of brokerages recently weighed in on SHBI. StockNews.com began coverage on shares of Shore Bancshares in a report on Wednesday, October 12th. They set a “hold” rating for the company. Janney Montgomery Scott began coverage on shares of Shore Bancshares in a report on Wednesday, August 31st. They set a “neutral” rating for the company.
Shore Bancshares Company Profile
Shore Bancshares, Inc operates as a bank holding company for the Shore United Bank 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.