Bailard Inc. Makes New $210,000 Investment in Shore Bancshares Inc (NASDAQ:SHBI)

Bailard Inc. acquired a new stake in Shore Bancshares Inc (NASDAQ:SHBI - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 15,500 shares of the bank's stock, valued at approximately $210,000.

Other hedge funds have also modified their holdings of the company. CWM LLC boosted its stake in Shore Bancshares by 1.4% during the 1st quarter. CWM LLC now owns 59,878 shares of the bank's stock worth $811,000 after purchasing an additional 843 shares during the period. GAMMA Investing LLC boosted its stake in shares of Shore Bancshares by 1,073.1% during the first quarter. GAMMA Investing LLC now owns 18,875 shares of the bank's stock worth $256,000 after buying an additional 17,266 shares during the period. Nuveen Asset Management LLC grew its holdings in shares of Shore Bancshares by 67.8% during the fourth quarter. Nuveen Asset Management LLC now owns 116,031 shares of the bank's stock worth $1,839,000 after buying an additional 46,890 shares during the last quarter. Millennium Management LLC acquired a new position in Shore Bancshares in the 4th quarter valued at about $802,000. Finally, Man Group plc acquired a new stake in Shore Bancshares during the 4th quarter worth approximately $541,000. 59.76% of the stock is currently owned by hedge funds and other institutional investors.

Shore Bancshares Stock Performance

Shares of NASDAQ:SHBI traded down $0.57 during trading on Thursday, reaching $16.05. The company had a trading volume of 118,417 shares, compared to its average volume of 182,321. Shore Bancshares Inc has a fifty-two week low of $11.47 and a fifty-two week high of $17.61. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.94 and a quick ratio of 0.94. The stock's fifty day moving average price is $15.43 and its 200 day moving average price is $14.76. The firm has a market capitalization of $535.59 million, a price-to-earnings ratio of 10.77 and a beta of 0.97.

Shore Bancshares (NASDAQ:SHBI - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The bank reported $0.51 earnings per share for the quarter, beating analysts' consensus estimates of $0.41 by $0.10. Shore Bancshares had a net margin of 14.91% and a return on equity of 10.44%. As a group, equities research analysts predict 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 was paid on Friday, May 23rd. Stockholders of record on Monday, May 12th were paid a dividend of $0.12 per share. The ex-dividend date was Monday, May 12th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.99%. Shore Bancshares's dividend payout ratio (DPR) is 32.21%.

Insider Transactions 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 owned 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. Insiders have bought 6,250 shares of company stock worth $89,468 over the last three months. Corporate insiders own 8.69% 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.