Shore Bancshares, Inc. (NASDAQ:SHBI) Shares Bought by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP boosted its holdings in Shore Bancshares, Inc. (NASDAQ:SHBI - Free Report) by 4.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,346,364 shares of the bank's stock after acquiring an additional 57,115 shares during the period. Dimensional Fund Advisors LP owned 4.04% of Shore Bancshares worth $21,340,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Jump Financial LLC acquired a new position in Shore Bancshares in the fourth quarter valued at approximately $201,000. Barclays PLC raised its stake in shares of Shore Bancshares by 7.2% in the fourth quarter. Barclays PLC now owns 91,087 shares of the bank's stock valued at $1,443,000 after acquiring an additional 6,145 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Shore Bancshares in the fourth quarter valued at $279,000. Martingale Asset Management L P raised its stake in Shore Bancshares by 105.7% in the fourth quarter. Martingale Asset Management L P now owns 42,505 shares of the bank's stock valued at $674,000 after buying an additional 21,845 shares in the last quarter. Finally, Invesco Ltd. raised its stake in Shore Bancshares by 9.1% in the fourth quarter. Invesco Ltd. now owns 50,622 shares of the bank's stock valued at $802,000 after buying an additional 4,230 shares in the last quarter. 59.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Shore Bancshares

In other Shore Bancshares news, Director Konrad Wayson acquired 5,000 shares of the stock in a transaction on Friday, May 2nd. The shares were bought at an average price of $14.25 per share, with a total value of $71,250.00. Following the acquisition, the director now owns 59,328 shares of the company's stock, valued at $845,424. This trade represents a 9.20% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 8.69% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Separately, Piper Sandler initiated coverage on Shore Bancshares in a report on Thursday, February 6th. They set an "overweight" rating and a $20.00 price objective on the stock.

Shore Bancshares Stock Performance

Shares of SHBI stock traded up $0.13 during mid-day trading on Tuesday, hitting $15.09. 16,471 shares of the stock were exchanged, compared to its average volume of 125,338. The stock's fifty day simple moving average is $13.32 and its two-hundred day simple moving average is $15.00. The stock has a market capitalization of $503.61 million, a price-to-earnings ratio of 11.35 and a beta of 0.93. Shore Bancshares, Inc. has a 12-month low of $10.36 and a 12-month high of $17.61. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.93 and a current ratio of 0.94.

Shore Bancshares (NASDAQ:SHBI - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The bank reported $0.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.35 by $0.10. Shore Bancshares had a return on equity of 10.40% and a net margin of 13.44%. The firm had revenue of $53.03 million for the quarter, compared to analyst estimates of $50.78 million. On average, analysts forecast that Shore Bancshares, Inc. will post 1.59 EPS for the current year.

Shore Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Monday, May 12th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date of this dividend is Monday, May 12th. Shore Bancshares's dividend payout ratio is currently 32.21%.

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.