Alps Advisors Inc. Takes $356,000 Position in Shore Bancshares Inc (NASDAQ:SHBI)

Alps Advisors Inc. purchased a new position in shares of Shore Bancshares Inc (NASDAQ:SHBI - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 26,310 shares of the bank's stock, valued at approximately $356,000. Alps Advisors Inc. owned 0.08% of Shore Bancshares as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in SHBI. GAMMA Investing LLC boosted its holdings in 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 in the last quarter. Nuveen Asset Management LLC lifted its position in shares of Shore Bancshares by 67.8% during the 4th quarter. Nuveen Asset Management LLC now owns 116,031 shares of the bank's stock valued at $1,839,000 after acquiring an additional 46,890 shares during the period. Millennium Management LLC acquired a new stake in shares of Shore Bancshares during the 4th quarter valued at approximately $802,000. Man Group plc purchased a new stake in shares of Shore Bancshares during the 4th quarter worth approximately $541,000. Finally, American Century Companies Inc. grew its holdings in shares of Shore Bancshares by 45.7% in the 4th quarter. American Century Companies Inc. now owns 469,182 shares of the bank's stock worth $7,437,000 after acquiring an additional 147,148 shares during the period. 59.76% of the stock is owned by institutional investors and hedge funds.

Shore Bancshares Price Performance

SHBI stock traded up $0.01 during midday trading on Friday, hitting $16.70. 137,996 shares of the stock were exchanged, compared to its average volume of 139,026. The stock's 50-day moving average price is $15.27 and its 200-day moving average price is $14.73. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a market cap of $557.28 million, a price-to-earnings ratio of 11.21 and a beta of 0.97. Shore Bancshares Inc has a fifty-two week low of $11.47 and a fifty-two week high of $17.61.

Shore Bancshares (NASDAQ:SHBI - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The bank reported $0.45 earnings per share for the quarter, beating analysts' consensus estimates of $0.35 by $0.10. The business had revenue of $53.03 million during the quarter, compared to analysts' expectations of $50.78 million. Shore Bancshares had a return on equity of 10.44% and a net margin of 14.91%. Research analysts predict that Shore Bancshares Inc will post 1.59 earnings per share for the current year.

Shore Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 12th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date of this dividend was Monday, May 12th. Shore Bancshares's payout ratio is currently 32.21%.

Insider Transactions at Shore Bancshares

In other Shore Bancshares news, Director Konrad Wayson purchased 5,000 shares of the stock in a transaction dated Friday, May 2nd. The shares were acquired at an average cost of $14.25 per share, for a total transaction of $71,250.00. Following the completion of the transaction, the director directly 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 purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders have bought a total of 6,250 shares of company stock worth $89,468 in the last ninety days. 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.