Massachusetts Financial Services Co. MA purchased a new position in shares of Shore Bancshares Inc (NASDAQ:SHBI - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 52,650 shares of the bank's stock, valued at approximately $713,000. Massachusetts Financial Services Co. MA owned approximately 0.16% of Shore Bancshares as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. CWM LLC grew its position in Shore Bancshares by 1.4% in the first quarter. CWM LLC now owns 59,878 shares of the bank's stock valued at $811,000 after purchasing an additional 843 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Shore Bancshares by 1,073.1% during the 1st 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 last quarter. Nuveen Asset Management LLC grew its holdings in shares of Shore Bancshares by 67.8% in 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 in the last quarter. Millennium Management LLC acquired a new stake in shares of Shore Bancshares in the fourth quarter valued at about $802,000. Finally, Man Group plc acquired a new stake in shares of Shore Bancshares in the fourth quarter valued at about $541,000. 59.76% of the stock is currently owned by institutional investors and hedge funds.
Shore Bancshares Stock Down 3.4%
NASDAQ SHBI traded down $0.57 during trading hours on Thursday, hitting $16.05. 118,417 shares of the company traded hands, compared to its average volume of 182,321. 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 is $15.43 and its 200-day moving average is $14.76. The stock has a market capitalization of $535.59 million, a price-to-earnings ratio of 10.77 and a beta of 0.97. Shore Bancshares Inc has a twelve month low of $11.47 and a twelve month high of $17.61.
Shore Bancshares (NASDAQ:SHBI - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The bank reported $0.51 EPS for the quarter, beating the consensus estimate of $0.41 by $0.10. Shore Bancshares had a return on equity of 10.44% and a net margin of 14.91%. Sell-side analysts anticipate that Shore Bancshares Inc will post 1.59 earnings per share for the current year.
Shore Bancshares Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Monday, May 12th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date was Monday, May 12th. Shore Bancshares's dividend payout ratio (DPR) is presently 32.21%.
Insider Buying and Selling at Shore Bancshares
In other news, Director Konrad Wayson bought 5,000 shares of the company's stock in a transaction dated Friday, May 2nd. The shares were bought at an average cost of $14.25 per share, with a total value of $71,250.00. Following the acquisition, the director owned 59,328 shares in the company, valued at $845,424. This trade represents a 9.20% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders have bought 6,250 shares of company stock worth $89,468. 8.69% of the stock is owned by insiders.
About Shore Bancshares
(
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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