Chapin Davis Inc. Makes New $278,000 Investment in Shore Bancshares, Inc. (NASDAQ:SHBI)

Chapin Davis Inc. acquired a new position in shares of Shore Bancshares, Inc. (NASDAQ:SHBI – Get Rating) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 19,500 shares of the bank’s stock, valued at approximately $278,000. Chapin Davis Inc. owned about 0.10% of Shore Bancshares at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. FJ Capital Management LLC increased its holdings in Shore Bancshares by 0.5% during the fourth quarter. FJ Capital Management LLC now owns 1,880,651 shares of the bank’s stock worth $32,780,000 after buying an additional 9,651 shares during the last quarter. BlackRock Inc. grew its stake in Shore Bancshares by 2.5% during the third quarter. BlackRock Inc. now owns 1,091,763 shares of the bank’s stock valued at $18,910,000 after acquiring an additional 26,460 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Shore Bancshares by 4.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 818,943 shares of the bank’s stock worth $14,274,000 after buying an additional 35,910 shares in the last quarter. Vanguard Group Inc. grew its stake in Shore Bancshares by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 762,599 shares of the bank’s stock worth $15,618,000 after buying an additional 3,034 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in Shore Bancshares by 4.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 665,900 shares of the bank’s stock worth $11,607,000 after buying an additional 29,776 shares in the last quarter. Institutional investors and hedge funds own 59.73% of the company’s stock.

Shore Bancshares Trading Down 2.6 %

NASDAQ:SHBI opened at $12.00 on Friday. The company has a fifty day moving average of $12.05 and a 200 day moving average of $15.09. Shore Bancshares, Inc. has a 52 week low of $10.65 and a 52 week high of $20.85. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $238.80 million, a P/E ratio of 7.45 and a beta of 0.88.

Shore Bancshares (NASDAQ:SHBI – Get Rating) last posted its quarterly earnings results on Thursday, April 27th. The bank reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.08). Shore Bancshares had a net margin of 21.79% and a return on equity of 9.34%. The firm had revenue of $31.04 million for the quarter, compared to the consensus estimate of $32.56 million. On average, research analysts predict that Shore Bancshares, Inc. will post 1.92 earnings per share for the current year.

Shore Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 31st. Shareholders of record on Saturday, May 13th were issued a $0.12 dividend. The ex-dividend date of this dividend was Thursday, May 11th. This represents a $0.48 annualized dividend and a yield of 4.00%. Shore Bancshares’s dividend payout ratio (DPR) is presently 29.81%.

Analyst Upgrades and Downgrades

SHBI has been the subject of a number of recent research reports. Keefe, Bruyette & Woods lowered their price objective on shares of Shore Bancshares from $18.00 to $16.00 and set a “market perform” rating for the company in a report on Thursday, April 6th. StockNews.com lowered shares of Shore Bancshares from a “hold” rating to a “sell” rating in a report on Thursday, May 25th.

Insiders Place Their Bets

In related news, Director Konrad Wayson acquired 3,000 shares of the firm’s stock in a transaction on Thursday, May 11th. The stock was acquired at an average cost of $10.83 per share, for a total transaction of $32,490.00. Following the acquisition, the director now owns 60,889 shares of the company’s stock, valued at $659,427.87. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last ninety days, insiders purchased 4,965 shares of company stock worth $54,609. 11.30% of the stock is currently owned by corporate insiders.

Shore Bancshares Company Profile

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Shore Bancshares, Inc is a financial holding company, which engages in the provision of commercial banking products and services to individuals and businesses. Its services include checking accounts, various savings programs, mortgage loans, home improvement loans, installment and other personal loans, credit cards, personal lines of credit, automobile and other consumer financing, safe deposit boxes, debit cards, 24-hour telephone banking, internet banking, mobile banking, and 24-hour automatic teller machine services.

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