Wellington Management Group LLP Increases Stock Position in Shore Bancshares, Inc. (NASDAQ:SHBI)

Wellington Management Group LLP boosted its position in Shore Bancshares, Inc. (NASDAQ:SHBI - Free Report) by 59.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 170,444 shares of the bank's stock after purchasing an additional 63,539 shares during the period. Wellington Management Group LLP owned approximately 0.51% of Shore Bancshares worth $2,702,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of SHBI. Investment Management Corp VA ADV purchased a new stake in shares of Shore Bancshares in the fourth quarter worth approximately $38,000. Russell Investments Group Ltd. grew its position in 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 purchased a new stake in Shore Bancshares in the fourth quarter worth $179,000. Jump Financial LLC bought a new stake in shares of Shore Bancshares during the fourth quarter worth $201,000. Finally, SG Americas Securities LLC lifted its position in shares of Shore Bancshares by 24.5% during the fourth quarter. SG Americas Securities LLC now owns 13,871 shares of the bank's stock worth $220,000 after purchasing an additional 2,734 shares during the last quarter. Hedge funds and other institutional investors own 59.76% of the company's stock.

Insider Buying and Selling

In other news, Director Konrad Wayson purchased 5,000 shares of the company's stock in a transaction dated Friday, May 2nd. The shares were acquired at an average price of $14.25 per share, with a total value of $71,250.00. Following the transaction, the director now owns 59,328 shares of the company's stock, valued at $845,424. This represents a 9.20% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have bought a total of 6,250 shares of company stock valued at $89,468 over the last quarter. 8.69% of the stock is owned by corporate insiders.

Shore Bancshares Trading Up 0.1%

Shares of SHBI traded up $0.02 during trading hours on Monday, reaching $14.81. 109,215 shares of the company traded hands, compared to its average volume of 128,900. The stock's fifty day moving average price is $13.68 and its 200 day moving average price is $14.88. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.23. The firm has a market cap of $494.27 million, a price-to-earnings ratio of 11.14 and a beta of 0.96. Shore Bancshares, Inc. has a 12-month low of $10.36 and a 12-month 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 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 during the quarter, compared to analysts' expectations of $50.78 million. Shore Bancshares had a net margin of 13.44% and a return on equity of 10.40%. Sell-side analysts forecast that Shore Bancshares, Inc. will post 1.59 earnings per share for the current year.

Shore Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 12th were issued a $0.12 dividend. The ex-dividend date was Monday, May 12th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.24%. 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.