Assenagon Asset Management S.A. Has $1.05 Million Stock Holdings in Shore Bancshares, Inc. (NASDAQ:SHBI)

Assenagon Asset Management S.A. increased its position in shares of Shore Bancshares, Inc. (NASDAQ:SHBIFree Report) by 38.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 91,396 shares of the bank’s stock after acquiring an additional 25,155 shares during the period. Assenagon Asset Management S.A. owned about 0.28% of Shore Bancshares worth $1,051,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Sandy Spring Bank acquired a new stake in Shore Bancshares in the fourth quarter valued at approximately $1,704,000. Bank of New York Mellon Corp boosted its position in Shore Bancshares by 60.5% in the third quarter. Bank of New York Mellon Corp now owns 152,807 shares of the bank’s stock valued at $1,608,000 after buying an additional 57,595 shares in the last quarter. Gendell Jeffrey L boosted its position in Shore Bancshares by 89.1% in the third quarter. Gendell Jeffrey L now owns 233,410 shares of the bank’s stock valued at $2,455,000 after buying an additional 110,000 shares in the last quarter. Siena Capital Partners GP LLC boosted its position in Shore Bancshares by 609.5% in the third quarter. Siena Capital Partners GP LLC now owns 195,287 shares of the bank’s stock valued at $2,258,000 after buying an additional 167,761 shares in the last quarter. Finally, Barclays PLC boosted its position in Shore Bancshares by 17.8% in the third quarter. Barclays PLC now owns 53,049 shares of the bank’s stock valued at $559,000 after buying an additional 8,025 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 Clyde V. Kelly III purchased 5,000 shares of the firm’s stock in a transaction on Thursday, May 9th. The stock was purchased at an average cost of $11.19 per share, with a total value of $55,950.00. Following the completion of the purchase, the director now owns 23,888 shares in the company, valued at approximately $267,306.72. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 8.57% of the stock is owned by company insiders.

Shore Bancshares Trading Up 0.2 %

Shares of NASDAQ:SHBI traded up $0.02 during mid-day trading on Tuesday, reaching $11.59. 36,973 shares of the company’s stock were exchanged, compared to its average volume of 78,043. The firm has a market capitalization of $384.90 million, a price-to-earnings ratio of 19.98 and a beta of 0.94. The business’s fifty day moving average price is $10.91 and its 200-day moving average price is $11.92. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.91 and a current ratio of 0.91. Shore Bancshares, Inc. has a twelve month low of $9.66 and a twelve month high of $14.51.

Shore Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Thursday, May 16th will be issued a dividend of $0.12 per share. The ex-dividend date is Wednesday, May 15th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.14%. Shore Bancshares’s dividend payout ratio (DPR) is presently 82.76%.

Wall Street Analysts Forecast Growth

SHBI has been the topic of a number of research analyst reports. TheStreet lowered shares of Shore Bancshares from a “b-” rating to a “c+” rating in a research report on Thursday, February 29th. StockNews.com upgraded shares of Shore Bancshares from a “sell” rating to a “hold” rating in a research report on Thursday, February 1st. Finally, Keefe, Bruyette & Woods cut their target price on shares of Shore Bancshares from $14.00 to $13.00 and set a “market perform” rating on the stock in a research report on Friday, May 3rd.

Check Out Our Latest Stock Analysis on SHBI

Shore Bancshares Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Shore Bancshares (NASDAQ:SHBI)

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