Dimensional Fund Advisors LP Purchases 35,910 Shares of Shore Bancshares, Inc. (NASDAQ:SHBI)

Dimensional Fund Advisors LP boosted its position in Shore Bancshares, Inc. (NASDAQ:SHBI – Get Rating) by 4.6% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 818,943 shares of the bank’s stock after purchasing an additional 35,910 shares during the period. Dimensional Fund Advisors LP owned about 4.13% of Shore Bancshares worth $14,274,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. FMR LLC grew its position in Shore Bancshares by 28.9% in the 2nd quarter. FMR LLC now owns 2,274 shares of the bank’s stock worth $42,000 after purchasing an additional 510 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Shore Bancshares by 14.4% in the first quarter. JPMorgan Chase & Co. now owns 4,197 shares of the bank’s stock valued at $86,000 after acquiring an additional 528 shares during the last quarter. UBS Group AG increased its stake in shares of Shore Bancshares by 25.2% during the 2nd quarter. UBS Group AG now owns 3,789 shares of the bank’s stock worth $70,000 after purchasing an additional 762 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of Shore Bancshares by 7.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 16,507 shares of the bank’s stock worth $285,000 after purchasing an additional 1,132 shares during the last quarter. Finally, BNP Paribas Arbitrage SNC increased its stake in shares of Shore Bancshares by 30.1% during the 3rd quarter. BNP Paribas Arbitrage SNC now owns 5,669 shares of the bank’s stock worth $98,000 after purchasing an additional 1,311 shares during the last quarter. 60.45% of the stock is owned by institutional investors.

Shore Bancshares Stock Up 4.4 %

SHBI opened at $12.20 on Thursday. The company has a 50 day moving average of $12.37 and a 200 day moving average of $15.63. The company has a market cap of $242.78 million, a PE ratio of 7.58 and a beta of 0.88. Shore Bancshares, Inc. has a 12 month low of $10.65 and a 12 month high of $20.85. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 0.48.

Shore Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 31st. Shareholders of record on Saturday, May 13th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 3.93%. The ex-dividend date was Thursday, May 11th. Shore Bancshares’s payout ratio is 29.81%.

Insider Buying and Selling at Shore Bancshares

In other news, Director Konrad Wayson purchased 3,000 shares of the business’s stock in a transaction on Thursday, May 11th. The stock was purchased at an average cost of $10.83 per share, with a total value of $32,490.00. Following the acquisition, the director now directly owns 60,889 shares in the company, valued at $659,427.87. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders bought a total of 4,965 shares of company stock valued at $54,609 in the last three months. Company insiders own 11.30% of the company’s stock.

Analyst Ratings Changes

SHBI has been the subject of several research analyst reports. StockNews.com lowered shares of Shore Bancshares from a “hold” rating to a “sell” rating in a research note on Thursday, May 25th. Keefe, Bruyette & Woods cut their price objective on shares of Shore Bancshares from $18.00 to $16.00 and set a “market perform” rating for the company in a report on Thursday, April 6th.

Shore Bancshares Profile

(Get Rating)

Shore Bancshares, Inc is a financial holding company, which engages in the provision of commercial banking products and services to individuals and businesses. Its services include checking accounts, various savings programs, mortgage loans, home improvement loans, installment and other personal loans, credit cards, personal lines of credit, automobile and other consumer financing, safe deposit boxes, debit cards, 24-hour telephone banking, internet banking, mobile banking, and 24-hour automatic teller machine services.

Read More

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected].

Before you consider Shore Bancshares, you’ll want to hear this.

MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Shore Bancshares wasn’t on the list.

While Shore Bancshares currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here