Nuveen Asset Management LLC Boosts Stock Position in Shore Bancshares, Inc. (NASDAQ:SHBI)

Nuveen Asset Management LLC lifted its stake in Shore Bancshares, Inc. (NASDAQ:SHBI - Free Report) by 67.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 116,031 shares of the bank's stock after acquiring an additional 46,890 shares during the period. Nuveen Asset Management LLC owned 0.35% of Shore Bancshares worth $1,839,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in SHBI. Russell Investments Group Ltd. raised 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 acquiring an additional 8,232 shares in the last quarter. Occudo Quantitative Strategies LP bought a new position in shares of Shore Bancshares in the 4th quarter worth $179,000. Jump Financial LLC acquired a new position in Shore Bancshares during the 4th quarter valued at about $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 valued at $220,000 after buying an additional 2,734 shares in the last quarter. Finally, LPL Financial LLC acquired a new position in Shore Bancshares during the 4th quarter valued at about $270,000. 59.76% of the stock is owned by institutional investors.

Shore Bancshares Stock Down 0.4%

NASDAQ:SHBI traded down $0.06 during mid-day trading on Thursday, hitting $14.46. 124,521 shares of the company's stock traded hands, compared to its average volume of 128,103. The company has a fifty day moving average of $13.64 and a 200 day moving average of $14.92. Shore Bancshares, Inc. has a twelve month low of $10.36 and a twelve month high of $17.61. The company has a market capitalization of $482.59 million, a P/E ratio of 10.87 and a beta of 0.93. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.93 and a current ratio of 0.94.

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

Shore Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 12th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Monday, May 12th. This represents a $0.48 annualized dividend and a yield of 3.32%. Shore Bancshares's payout ratio is presently 32.21%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Shore Bancshares

In other news, Director Konrad Wayson purchased 5,000 shares of the company's stock in a transaction on Friday, May 2nd. The shares were acquired at an average price of $14.25 per share, for a total transaction of $71,250.00. Following the purchase, the director now owns 59,328 shares in the company, valued at $845,424. This trade represents a 9.20% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders have bought 6,250 shares of company stock worth $89,468. 8.69% of the stock is currently owned by insiders.

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.