Dimensional Fund Advisors LP Buys 57,115 Shares of Shore Bancshares, Inc. (NASDAQ:SHBI)

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

A number of other hedge funds also recently made changes to their positions in SHBI. Janney Montgomery Scott LLC lifted its stake in Shore Bancshares by 10.0% in the 4th quarter. Janney Montgomery Scott LLC now owns 21,741 shares of the bank's stock valued at $345,000 after purchasing an additional 1,984 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of Shore Bancshares by 24.5% in the 4th quarter. SG Americas Securities LLC now owns 13,871 shares of the bank's stock valued at $220,000 after acquiring an additional 2,734 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Shore Bancshares by 9.1% during the 4th quarter. Invesco Ltd. now owns 50,622 shares of the bank's stock valued at $802,000 after acquiring an additional 4,230 shares in the last quarter. Wells Fargo & Company MN grew its position in Shore Bancshares by 29.0% during the 4th quarter. Wells Fargo & Company MN now owns 19,253 shares of the bank's stock worth $305,000 after acquiring an additional 4,329 shares during the last quarter. Finally, Barclays PLC increased its holdings in Shore Bancshares by 7.2% in the 4th quarter. Barclays PLC now owns 91,087 shares of the bank's stock worth $1,443,000 after purchasing an additional 6,145 shares in the last quarter. 59.76% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Piper Sandler started coverage on Shore Bancshares in a research note on Thursday, February 6th. They set an "overweight" rating and a $20.00 price target on the stock.

Shore Bancshares Trading Down 0.5 %

Shares of SHBI stock traded down $0.08 during trading hours on Friday, hitting $14.56. 102,304 shares of the company's stock traded hands, compared to its average volume of 125,423. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.23. Shore Bancshares, Inc. has a 12 month low of $10.36 and a 12 month high of $17.61. The stock has a market cap of $485.93 million, a PE ratio of 10.95 and a beta of 0.93. The stock's 50 day simple moving average is $13.31 and its 200 day simple moving average is $14.99.

Shore Bancshares (NASDAQ:SHBI - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The bank reported $0.45 EPS for the quarter, beating 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, sell-side analysts anticipate that Shore Bancshares, Inc. will post 1.59 EPS for the current year.

Shore Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Monday, May 12th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Monday, May 12th. This represents a $0.48 annualized dividend and a yield of 3.30%. Shore Bancshares's payout ratio is 32.21%.

Insider Transactions at Shore Bancshares

In other news, Director Konrad Wayson bought 5,000 shares of the company's stock in a transaction that occurred on Friday, May 2nd. The shares were acquired at an average price of $14.25 per share, for a total transaction of $71,250.00. Following the completion of the acquisition, the director now directly owns 59,328 shares in the company, valued at approximately $845,424. This represents a 9.20 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 8.57% of the company's stock.

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.