Segall Bryant & Hamill LLC Purchases Shares of 121,389 Shore Bancshares Inc (NASDAQ:SHBI)

Segall Bryant & Hamill LLC bought a new position in shares of Shore Bancshares Inc (NASDAQ:SHBI - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The fund bought 121,389 shares of the bank's stock, valued at approximately $1,644,000. Segall Bryant & Hamill LLC owned 0.36% of Shore Bancshares as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of SHBI. Investment Management Corp VA ADV acquired a new position in Shore Bancshares during the 4th quarter worth approximately $38,000. Russell Investments Group Ltd. raised its position in shares of Shore Bancshares by 43,326.3% during 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 in the last quarter. Occudo Quantitative Strategies LP bought a new stake in Shore Bancshares in the 4th quarter valued at about $179,000. Jump Financial LLC bought a new stake in Shore Bancshares in the 4th quarter valued at about $201,000. Finally, GAMMA Investing LLC increased its holdings in shares of Shore Bancshares by 1,073.1% during the first quarter. GAMMA Investing LLC now owns 18,875 shares of the bank's stock valued at $256,000 after purchasing an additional 17,266 shares during the period. Hedge funds and other institutional investors own 59.76% of the company's stock.

Insider Buying and Selling at Shore Bancshares

In other Shore Bancshares news, Director Konrad Wayson purchased 5,000 shares of the company's stock in a transaction on 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 transaction, the director directly owned 59,328 shares in the company, valued at approximately $845,424. This represents a 9.20% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Over the last quarter, insiders purchased 6,250 shares of company stock valued at $89,468. 8.69% of the stock is currently owned by company insiders.

Shore Bancshares Trading Up 0.1%

Shares of SHBI stock opened at $16.70 on Friday. The stock has a 50-day simple moving average of $15.31 and a 200 day simple moving average of $14.73. Shore Bancshares Inc has a fifty-two week low of $11.47 and a fifty-two week high of $17.61. The stock has a market capitalization of $557.28 million, a P/E ratio of 11.21 and a beta of 0.97. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.22.

Shore Bancshares (NASDAQ:SHBI - Get Free Report) last announced 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. 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 analyst estimates of $50.78 million. On average, sell-side analysts expect that Shore Bancshares Inc will post 1.59 earnings per share for the current fiscal year.

Shore Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 12th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date of this dividend was Monday, May 12th. Shore Bancshares's payout ratio is 32.21%.

Shore Bancshares 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.

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