Shore Bancshares, Inc. (NASDAQ:SHBI) Director Purchases $50,820.00 in Stock

Shore Bancshares, Inc. (NASDAQ:SHBI) Director Konrad Wayson acquired 3,000 shares of the business’s stock in a transaction on Monday, November 25th. The stock was acquired at an average price of $16.94 per share, with a total value of $50,820.00. Following the acquisition, the director now owns 53,266 shares in the company, valued at $902,326.04. The trade was a 5.97 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link.

Shore Bancshares Trading Up 0.5 %

Shares of SHBI stock traded up $0.08 during trading on Monday, hitting $16.63. 103,435 shares of the stock traded hands, compared to its average volume of 85,110. Shore Bancshares, Inc. has a 52-week low of $10.06 and a 52-week high of $17.03. The firm has a market capitalization of $554.28 million, a P/E ratio of 13.30 and a beta of 0.95. The firm’s fifty day moving average price is $14.66 and its 200-day moving average price is $13.16. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.94 and a quick ratio of 0.93.

Shore Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Tuesday, November 12th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date of this dividend is Tuesday, November 12th. Shore Bancshares’s payout ratio is 38.40%.

Wall Street Analysts Forecast Growth

Separately, Janney Montgomery Scott cut Shore Bancshares from a “buy” rating to a “neutral” rating in a report on Tuesday, July 30th.

Institutional Trading of Shore Bancshares

Institutional investors and hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC acquired a new stake in shares of Shore Bancshares in the third quarter valued at $156,000. AQR Capital Management LLC purchased a new stake in Shore Bancshares during the second quarter worth about $147,000. Quadrature Capital Ltd purchased a new position in shares of Shore Bancshares in the first quarter valued at approximately $200,000. Creative Planning grew its holdings in shares of Shore Bancshares by 30.6% in the third quarter. Creative Planning now owns 37,674 shares of the bank’s stock valued at $527,000 after purchasing an additional 8,831 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in Shore Bancshares by 6.5% during the 2nd quarter. Rhumbline Advisers now owns 43,240 shares of the bank’s stock worth $495,000 after buying an additional 2,639 shares during the period. 59.76% of the stock is currently owned by hedge funds and other institutional investors.

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.