Corbyn Investment Management Inc. MD Has $2.27 Million Stock Holdings in Shore Bancshares, Inc. (NASDAQ:SHBI)

Corbyn Investment Management Inc. MD reduced its stake in Shore Bancshares, Inc. (NASDAQ:SHBI) by 8.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 159,475 shares of the bank’s stock after selling 14,466 shares during the period. Corbyn Investment Management Inc. MD’s holdings in Shore Bancshares were worth $2,273,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of SHBI. Heritage Wealth Advisors bought a new stake in shares of Shore Bancshares in the 3rd quarter valued at approximately $53,000. New York State Common Retirement Fund grew its stake in shares of Shore Bancshares by 79.6% in the 3rd quarter. New York State Common Retirement Fund now owns 9,235 shares of the bank’s stock valued at $97,000 after purchasing an additional 4,094 shares during the period. Signature Estate & Investment Advisors LLC bought a new stake in Shore Bancshares during the 3rd quarter worth approximately $122,000. Raymond James & Associates bought a new stake in Shore Bancshares during the 3rd quarter worth approximately $124,000. Finally, SG Americas Securities LLC bought a new stake in Shore Bancshares during the 3rd quarter worth approximately $134,000. 59.76% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

SHBI has been the topic of a number of research analyst reports. StockNews.com upgraded Shore Bancshares from a “sell” rating to a “hold” rating in a research report on Thursday, February 1st. TheStreet lowered Shore Bancshares from a “b-” rating to a “c+” rating in a research report on Thursday, February 29th.

Insiders Place Their Bets

In related news, Director Dawn M. Willey purchased 10,000 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were bought at an average price of $11.02 per share, with a total value of $110,200.00. Following the purchase, the director now directly owns 17,500 shares in the company, valued at approximately $192,850. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Shore Bancshares news, Director David S. Jones acquired 8,043 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The shares were acquired at an average price of $11.01 per share, with a total value of $88,553.43. Following the purchase, the director now owns 35,235 shares of the company’s stock, valued at approximately $387,937.35. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Dawn M. Willey acquired 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The shares were acquired at an average cost of $11.02 per share, for a total transaction of $110,200.00. Following the purchase, the director now directly owns 17,500 shares in the company, valued at approximately $192,850. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 19,121 shares of company stock valued at $211,067. 8.57% of the stock is currently owned by corporate insiders.

Shore Bancshares Trading Down 0.4 %

NASDAQ:SHBI traded down $0.04 during trading hours on Friday, hitting $10.54. 13,307 shares of the stock were exchanged, compared to its average volume of 79,481. The company’s 50 day moving average is $11.01 and its two-hundred day moving average is $11.82. Shore Bancshares, Inc. has a twelve month low of $9.66 and a twelve month high of $14.51. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $350.03 million, a P/E ratio of 16.28 and a beta of 0.93.

Shore Bancshares (NASDAQ:SHBI) last posted its quarterly earnings data on Wednesday, January 31st. The bank reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.01. Shore Bancshares had a return on equity of 6.47% and a net margin of 5.82%. The firm had revenue of $49.15 million for the quarter, compared to the consensus estimate of $51.20 million. On average, sell-side analysts anticipate that Shore Bancshares, Inc. will post 1.49 earnings per share for the current fiscal year.

Shore Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Shareholders of record on Monday, February 12th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 4.55%. The ex-dividend date of this dividend was Friday, February 9th. Shore Bancshares’s dividend payout ratio is 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.