54,520 Shares in Shore Bancshares, Inc. (NASDAQ:SHBI) Purchased by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Shore Bancshares, Inc. (NASDAQ:SHBI) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 54,520 shares of the bank’s stock, valued at approximately $763,000. Connor Clark & Lunn Investment Management Ltd. owned 0.16% of Shore Bancshares at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. American Century Companies Inc. raised its stake in shares of Shore Bancshares by 30.5% during the second quarter. American Century Companies Inc. now owns 195,418 shares of the bank’s stock worth $2,238,000 after buying an additional 45,692 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Shore Bancshares by 12.4% during the 2nd quarter. Renaissance Technologies LLC now owns 411,615 shares of the bank’s stock valued at $4,713,000 after acquiring an additional 45,300 shares during the last quarter. Creative Planning lifted its stake in shares of Shore Bancshares by 30.6% in the 3rd quarter. Creative Planning now owns 37,674 shares of the bank’s stock valued at $527,000 after purchasing an additional 8,831 shares during the period. Bank of Montreal Can bought a new position in shares of Shore Bancshares in the 2nd quarter worth $899,000. Finally, Vanguard Group Inc. increased its holdings in Shore Bancshares by 0.7% in the first quarter. Vanguard Group Inc. now owns 1,619,605 shares of the bank’s stock valued at $18,625,000 after purchasing an additional 11,544 shares during the last quarter. 59.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Shore Bancshares

In other Shore Bancshares news, Director Konrad Wayson bought 3,000 shares of Shore Bancshares stock in a transaction on Monday, November 25th. The shares were purchased at an average cost of $16.94 per share, for a total transaction of $50,820.00. Following the completion of the acquisition, the director now owns 53,266 shares in the company, valued at approximately $902,326.04. The trade was a 5.97 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 8.57% of the company’s stock.

Shore Bancshares Trading Down 0.2 %

NASDAQ:SHBI opened at $16.44 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.23. Shore Bancshares, Inc. has a 1-year low of $10.06 and a 1-year high of $17.03. The firm has a market capitalization of $547.95 million, a price-to-earnings ratio of 13.15 and a beta of 0.95. The business’s 50-day moving average price is $14.80 and its two-hundred day moving average price is $13.26.

Shore Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Tuesday, November 12th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date of this dividend is Tuesday, November 12th. Shore Bancshares’s dividend payout ratio is currently 38.40%.

Shore Bancshares Company 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.