Nuveen Asset Management LLC grew its position in Shore Bancshares, Inc. (NASDAQ:SHBI - Free Report) by 67.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 116,031 shares of the bank's stock after acquiring an additional 46,890 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.35% of Shore Bancshares worth $1,839,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also made changes to their positions in SHBI. Russell Investments Group Ltd. increased its holdings 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 valued at $131,000 after acquiring an additional 8,232 shares during the last quarter. Occudo Quantitative Strategies LP bought a new stake in shares of Shore Bancshares in the 4th quarter valued at approximately $179,000. Jump Financial LLC bought a new stake in shares of Shore Bancshares in the 4th quarter valued at approximately $201,000. SG Americas Securities LLC grew its stake 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 last quarter. Finally, LPL Financial LLC bought a new position in Shore Bancshares during the 4th quarter worth $270,000. 59.76% of the stock is currently owned by institutional investors.
Shore Bancshares Stock Performance
SHBI traded up $0.33 during trading on Friday, reaching $14.79. 83,813 shares of the company were exchanged, compared to its average volume of 128,612. The stock has a market cap of $493.60 million, a P/E ratio of 11.12 and a beta of 0.96. The firm has a 50 day moving average of $13.68 and a 200 day moving average of $14.89. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.23. Shore Bancshares, Inc. has a 52 week low of $10.36 and a 52 week high of $17.61.
Shore Bancshares (NASDAQ:SHBI - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The bank reported $0.45 EPS for the quarter, topping analysts' consensus estimates of $0.35 by $0.10. The firm had revenue of $53.03 million during the quarter, compared to the consensus estimate of $50.78 million. Shore Bancshares had a return on equity of 10.40% and a net margin of 13.44%. On average, sell-side analysts forecast that Shore Bancshares, Inc. will post 1.59 EPS for the current fiscal year.
Shore Bancshares Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 12th were given a dividend of $0.12 per share. The ex-dividend date was Monday, May 12th. This represents a $0.48 dividend on an annualized basis and a yield of 3.25%. Shore Bancshares's dividend payout ratio (DPR) is presently 32.21%.
Insiders Place Their Bets
In other Shore Bancshares news, Director Konrad Wayson purchased 5,000 shares of Shore Bancshares stock in a transaction on Friday, May 2nd. The stock was bought at an average price of $14.25 per share, for a total transaction of $71,250.00. Following the transaction, the director now owns 59,328 shares of the company's stock, valued at $845,424. The trade was a 9.20% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In the last quarter, insiders acquired 6,250 shares of company stock worth $89,468. 8.69% of the stock is owned by company insiders.
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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