Barclays PLC Increases Position in Shore Bancshares, Inc. (NASDAQ:SHBI)

Barclays PLC grew its holdings in Shore Bancshares, Inc. (NASDAQ:SHBI) by 48.2% during the third quarter, HoldingsChannel reports. The firm owned 84,942 shares of the bank’s stock after acquiring an additional 27,627 shares during the period. Barclays PLC’s holdings in Shore Bancshares were worth $1,189,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bank of Montreal Can acquired a new stake in shares of Shore Bancshares in the second quarter valued at approximately $899,000. Dimensional Fund Advisors LP grew its holdings in Shore Bancshares by 6.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,208,740 shares of the bank’s stock valued at $13,839,000 after buying an additional 77,961 shares in the last quarter. Fourthstone LLC increased its stake in shares of Shore Bancshares by 1.7% in the 3rd quarter. Fourthstone LLC now owns 3,329,922 shares of the bank’s stock worth $46,586,000 after acquiring an additional 54,679 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Shore Bancshares during the 3rd quarter worth $763,000. Finally, American Century Companies Inc. boosted its position in shares of Shore Bancshares by 30.5% during the 2nd quarter. American Century Companies Inc. now owns 195,418 shares of the bank’s stock valued at $2,238,000 after acquiring an additional 45,692 shares during the last quarter. 59.76% of the stock is currently owned by institutional investors and hedge funds.

Shore Bancshares Stock Performance

NASDAQ SHBI opened at $15.85 on Monday. The stock has a fifty day simple moving average of $15.98 and a 200-day simple moving average of $14.12. 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 stock has a market cap of $528.23 million, a PE ratio of 12.68 and a beta of 0.97. Shore Bancshares, Inc. has a twelve month low of $10.06 and a twelve month high of $17.61.

Shore Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Tuesday, November 12th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date was Tuesday, November 12th. Shore Bancshares’s dividend payout ratio (DPR) is 38.40%.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods raised shares of Shore Bancshares from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $16.00 to $20.00 in a report on Wednesday, December 4th.

Insider Transactions at Shore Bancshares

In other Shore Bancshares news, Director Konrad Wayson purchased 3,000 shares of the company’s stock in a transaction on Monday, November 25th. The stock was acquired at an average price of $16.94 per share, for a total transaction of $50,820.00. Following the completion of the purchase, the director now directly owns 53,266 shares in the company, valued at approximately $902,326.04. The trade was a 5.97 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 8.57% of the company’s stock.

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.