Shore Bancshares, Inc. (NASDAQ:SHBI) Shares Bought by Wellington Management Group LLP

Wellington Management Group LLP grew its stake in shares of Shore Bancshares, Inc. (NASDAQ:SHBI - Free Report) by 59.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 170,444 shares of the bank's stock after acquiring an additional 63,539 shares during the period. Wellington Management Group LLP owned about 0.51% of Shore Bancshares worth $2,702,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of SHBI. Investment Management Corp VA ADV acquired a new stake in shares of Shore Bancshares during the 4th quarter valued at $38,000. Russell Investments Group Ltd. lifted its holdings 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 valued at $131,000 after purchasing an additional 8,232 shares in the last quarter. Occudo Quantitative Strategies LP purchased a new stake in shares of Shore Bancshares in the fourth quarter valued at $179,000. Jump Financial LLC purchased a new stake in shares of Shore Bancshares in the fourth quarter valued at $201,000. Finally, SG Americas Securities LLC lifted its holdings in shares of Shore Bancshares by 24.5% in the fourth quarter. SG Americas Securities LLC now owns 13,871 shares of the bank's stock valued at $220,000 after purchasing an additional 2,734 shares in the last quarter. Institutional investors and hedge funds own 59.76% of the company's stock.

Insider Transactions at Shore Bancshares

In related 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 cost of $14.25 per share, with a total value of $71,250.00. Following the completion of the purchase, 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last ninety days, insiders have purchased 6,250 shares of company stock valued at $89,468. 8.69% of the stock is owned by insiders.

Shore Bancshares Price Performance

SHBI opened at $14.46 on Friday. The stock has a fifty day moving average of $13.66 and a 200-day moving average of $14.91. The firm has a market capitalization of $482.59 million, a P/E ratio of 10.87 and a beta of 0.93. Shore Bancshares, Inc. has a 12-month low of $10.36 and a 12-month high of $17.61. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.23.

Shore Bancshares (NASDAQ:SHBI - Get Free Report) last posted 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. Shore Bancshares had a net margin of 13.44% and a return on equity of 10.40%. The business had revenue of $53.03 million for the quarter, compared to the consensus estimate of $50.78 million. Equities analysts forecast that Shore Bancshares, Inc. will post 1.59 EPS for the current fiscal year.

Shore Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Stockholders 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 3.32%. The ex-dividend date was Monday, May 12th. Shore Bancshares's dividend payout ratio (DPR) is presently 32.21%.

Analyst Ratings Changes

Separately, Piper Sandler started coverage on Shore Bancshares in a report on Thursday, February 6th. They issued an "overweight" rating and a $20.00 target price for the company.

About Shore Bancshares

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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