34,103 Shares in Shore Bancshares, Inc. (NASDAQ:SHBI) Bought by Man Group plc

Man Group plc bought a new position in shares of Shore Bancshares, Inc. (NASDAQ:SHBI - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 34,103 shares of the bank's stock, valued at approximately $541,000. Man Group plc owned 0.10% of Shore Bancshares at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in SHBI. Russell Investments Group Ltd. grew its position in shares of Shore Bancshares by 43,326.3% in the fourth quarter. Russell Investments Group Ltd. now owns 8,251 shares of the bank's stock valued at $131,000 after purchasing an additional 8,232 shares during the last quarter. Occudo Quantitative Strategies LP bought a new stake in Shore Bancshares in the 4th quarter valued at $179,000. Jump Financial LLC acquired a new position in Shore Bancshares in the 4th quarter valued at $201,000. SG Americas Securities LLC increased its position in Shore Bancshares by 24.5% during the 4th quarter. SG Americas Securities LLC now owns 13,871 shares of the bank's stock worth $220,000 after buying an additional 2,734 shares during the period. Finally, LPL Financial LLC bought a new position in Shore Bancshares during the 4th quarter worth $270,000. 59.76% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Shore Bancshares Price Performance

Shares of SHBI traded down $0.04 during trading hours on Friday, hitting $14.57. 8,337 shares of the company were exchanged, compared to its average volume of 126,632. 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 fifty-two week low of $10.36 and a fifty-two week high of $17.61. The company has a market cap of $486.09 million, a price-to-earnings ratio of 10.95 and a beta of 0.93. The firm's fifty day moving average is $13.58 and its 200 day moving average is $14.97.

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

Shore Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 12th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date of this dividend was Monday, May 12th. Shore Bancshares's dividend payout ratio is presently 32.21%.

Insider Activity

In other Shore Bancshares news, Director Konrad Wayson acquired 5,000 shares of Shore Bancshares stock in a transaction that occurred on Friday, May 2nd. The shares were acquired at an average cost of $14.25 per share, with a total value of $71,250.00. Following the completion of the purchase, the director now directly owns 59,328 shares of the company's stock, valued at $845,424. This represents a 9.20% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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.