Alps Advisors Inc. Takes Position in Shore Bancshares Inc (NASDAQ:SHBI)

Alps Advisors Inc. acquired a new stake in shares of Shore Bancshares Inc (NASDAQ:SHBI - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 26,310 shares of the bank's stock, valued at approximately $356,000. Alps Advisors Inc. owned approximately 0.08% of Shore Bancshares as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of the company. Investment Management Corp VA ADV bought a new stake in shares of Shore Bancshares in the 4th quarter worth approximately $38,000. Russell Investments Group Ltd. boosted its position in shares of Shore Bancshares by 43,326.3% in the 4th quarter. Russell Investments Group Ltd. now owns 8,251 shares of the bank's stock worth $131,000 after purchasing an additional 8,232 shares in the last quarter. Occudo Quantitative Strategies LP bought a new stake in shares of Shore Bancshares in the 4th quarter worth approximately $179,000. Jump Financial LLC bought a new stake in shares of Shore Bancshares in the 4th quarter worth approximately $201,000. Finally, GAMMA Investing LLC raised its holdings in Shore Bancshares by 1,073.1% in the 1st quarter. GAMMA Investing LLC now owns 18,875 shares of the bank's stock worth $256,000 after acquiring an additional 17,266 shares during the last quarter. 59.76% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Konrad Wayson bought 5,000 shares of the firm's stock in a transaction on Friday, May 2nd. The stock was acquired at an average cost of $14.25 per share, for a total transaction of $71,250.00. Following the purchase, the director owned 59,328 shares in the company, valued at approximately $845,424. This represents a 9.20% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders have purchased 6,250 shares of company stock valued at $89,468. 8.69% of the stock is owned by insiders.

Shore Bancshares Stock Up 0.1%

NASDAQ SHBI traded up $0.01 during mid-day trading on Friday, reaching $16.70. The stock had a trading volume of 137,996 shares, compared to its average volume of 139,195. Shore Bancshares Inc has a 1 year low of $11.47 and a 1 year high of $17.61. The stock has a market cap of $557.28 million, a PE ratio of 11.21 and a beta of 0.97. The company has a fifty day moving average price of $15.31 and a 200 day moving average price of $14.73. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.94 and a quick ratio of 0.94.

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

Shore Bancshares Dividend Announcement

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

Shore Bancshares 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.