Massachusetts Financial Services Co. MA purchased a new position in shares of Shore Bancshares Inc (NASDAQ:SHBI - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 52,650 shares of the bank's stock, valued at approximately $713,000. Massachusetts Financial Services Co. MA owned about 0.16% of Shore Bancshares at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hillsdale Investment Management Inc. acquired a new position in shares of Shore Bancshares in the fourth quarter worth approximately $2,645,000. American Century Companies Inc. lifted its stake in shares of Shore Bancshares by 45.7% in the fourth 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. Arrowstreet Capital Limited Partnership acquired a new position in shares of Shore Bancshares in the fourth quarter worth approximately $1,479,000. JPMorgan Chase & Co. lifted its stake in shares of Shore Bancshares by 394.2% in the fourth quarter. JPMorgan Chase & Co. now owns 104,174 shares of the bank's stock worth $1,651,000 after acquiring an additional 83,096 shares during the period. Finally, Wellington Management Group LLP lifted its stake in shares of Shore Bancshares by 59.4% in the fourth quarter. Wellington Management Group LLP now owns 170,444 shares of the bank's stock worth $2,702,000 after acquiring an additional 63,539 shares during the period. 59.76% of the stock is currently owned by institutional investors.
Insider Transactions at Shore Bancshares
In other news, Director Konrad Wayson purchased 5,000 shares of the company's stock in a transaction dated Friday, May 2nd. The shares were purchased at an average price of $14.25 per share, with a total value of $71,250.00. Following the transaction, the director directly owned 59,328 shares of the company's stock, valued at approximately $845,424. This represents a 9.20% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders acquired 6,250 shares of company stock valued at $89,468. 8.57% of the stock is owned by corporate insiders.
Shore Bancshares Price Performance
Shares of SHBI opened at $16.70 on Monday. Shore Bancshares Inc has a 52-week low of $11.47 and a 52-week high of $17.61. 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 business's 50 day moving average price is $15.31 and its two-hundred day moving average price is $14.73. The firm has a market cap of $557.28 million, a PE ratio of 11.21 and a beta of 0.97.
Shore Bancshares (NASDAQ:SHBI - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The bank reported $0.45 EPS for the quarter, beating the consensus estimate of $0.35 by $0.10. Shore Bancshares had a return on equity of 10.44% and a net margin of 14.91%. The firm had revenue of $53.03 million during the quarter, compared to the consensus estimate of $50.78 million. On average, equities analysts anticipate that Shore Bancshares Inc will post 1.59 EPS for the current year.
Shore Bancshares Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 12th were paid 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 dividend payout ratio (DPR) is presently 32.21%.
Shore Bancshares Company Profile
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Free Report)
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.
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