GAMMA Investing LLC increased its holdings in Shore Bancshares Inc (NASDAQ:SHBI - Free Report) by 1,073.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 18,875 shares of the bank's stock after purchasing an additional 17,266 shares during the quarter. GAMMA Investing LLC owned 0.06% of Shore Bancshares worth $256,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of SHBI. Hillsdale Investment Management Inc. acquired a new position in Shore Bancshares in the 4th quarter worth about $2,645,000. American Century Companies Inc. raised its holdings in Shore Bancshares by 45.7% in the 4th quarter. American Century Companies Inc. now owns 469,182 shares of the bank's stock worth $7,437,000 after purchasing an additional 147,148 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in Shore Bancshares in the 4th quarter worth about $1,479,000. JPMorgan Chase & Co. raised its holdings in Shore Bancshares by 394.2% in the 4th quarter. JPMorgan Chase & Co. now owns 104,174 shares of the bank's stock worth $1,651,000 after purchasing an additional 83,096 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in Shore Bancshares by 152.4% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 137,599 shares of the bank's stock worth $2,181,000 after purchasing an additional 83,079 shares during the period. Institutional investors and hedge funds own 59.76% of the company's stock.
Insiders Place Their Bets
In other news, Director Konrad Wayson acquired 5,000 shares of the business's stock in a transaction on Friday, May 2nd. The stock was bought at an average cost 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 approximately $845,424. This represents a 9.20% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last three months, insiders bought 6,250 shares of company stock worth $89,468. Corporate insiders own 8.69% of the company's stock.
Shore Bancshares Stock Performance
NASDAQ SHBI opened at $14.62 on Friday. The stock has a market capitalization of $487.93 million, a price-to-earnings ratio of 9.81 and a beta of 0.96. Shore Bancshares Inc has a twelve month low of $10.39 and a twelve month high of $17.61. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.22. The stock has a 50-day moving average of $14.19 and a 200 day moving average of $14.76.
Shore Bancshares (NASDAQ:SHBI - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The bank reported $0.45 earnings per share for the quarter, topping analysts' consensus estimates of $0.35 by $0.10. The company had revenue of $53.03 million during the quarter, compared to analysts' expectations of $50.78 million. 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 EPS 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 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 3.28%. Shore Bancshares's dividend payout ratio (DPR) is currently 32.21%.
Shore Bancshares 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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