Segall Bryant & Hamill LLC acquired a new stake in shares of Shore Bancshares Inc (NASDAQ:SHBI - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 121,389 shares of the bank's stock, valued at approximately $1,644,000. Segall Bryant & Hamill LLC owned 0.36% of Shore Bancshares at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in SHBI. Investment Management Corp VA ADV purchased a new stake in shares of Shore Bancshares in the fourth quarter worth $38,000. Russell Investments Group Ltd. raised its position in shares of Shore Bancshares by 43,326.3% in the fourth quarter. Russell Investments Group Ltd. now owns 8,251 shares of the bank's stock worth $131,000 after buying an additional 8,232 shares in the last quarter. Occudo Quantitative Strategies LP purchased a new stake in Shore Bancshares during the fourth quarter valued at about $179,000. Jump Financial LLC purchased a new stake in Shore Bancshares during the fourth quarter valued at about $201,000. Finally, GAMMA Investing LLC boosted its stake in Shore Bancshares by 1,073.1% in the first quarter. GAMMA Investing LLC now owns 18,875 shares of the bank's stock worth $256,000 after buying an additional 17,266 shares in the last quarter. Hedge funds and other institutional investors own 59.76% of the company's stock.
Insider Activity at Shore Bancshares
In related news, Director Konrad Wayson bought 5,000 shares of the business's stock in a transaction dated Friday, May 2nd. The shares were purchased at an average cost of $14.25 per share, with a total value of $71,250.00. Following the completion of the purchase, the director owned 59,328 shares in the company, valued at approximately $845,424. The trade was a 9.20% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders purchased 6,250 shares of company stock valued at $89,468. Insiders own 8.69% of the company's stock.
Shore Bancshares Price Performance
SHBI traded down $0.03 during midday trading on Wednesday, hitting $16.62. The stock had a trading volume of 82,139 shares, compared to its average volume of 138,716. The company has a market cap of $554.61 million, a P/E ratio of 11.15 and a beta of 0.97. The business has a fifty day moving average of $15.41 and a 200 day moving average of $14.76. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.94 and a current ratio of 0.94. Shore Bancshares Inc has a 1 year low of $11.47 and a 1 year high of $17.61.
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, topping 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 for the quarter, compared to the consensus estimate of $50.78 million. As a group, equities analysts forecast that Shore Bancshares Inc will post 1.59 earnings per share for the current fiscal year.
Shore Bancshares Announces Dividend
The company also recently disclosed 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 annualized dividend and a yield of 2.89%. Shore Bancshares's payout ratio is 32.21%.
Shore Bancshares Company Profile
(
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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