Insider Buying: Shore Bancshares, Inc. (NASDAQ:SHBI) Director Purchases 3,000 Shares of Stock

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

Shore Bancshares Stock Performance

NASDAQ:SHBI opened at $16.44 on Thursday. The business has a 50 day moving average of $14.76 and a 200 day moving average of $13.24. The company has a market capitalization of $547.95 million, a price-to-earnings ratio of 13.18 and a beta of 0.95. Shore Bancshares, Inc. has a 1-year low of $10.06 and a 1-year high of $17.03. 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 Announces Dividend

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

Institutional Trading of Shore Bancshares

A number of hedge funds have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its position in Shore Bancshares by 2.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 86,435 shares of the bank’s stock worth $1,209,000 after buying an additional 2,231 shares during the last quarter. Rhumbline Advisers lifted its position in Shore Bancshares by 6.5% in 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 last quarter. Hotchkis & Wiley Capital Management LLC lifted its position in Shore Bancshares by 1.0% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 269,375 shares of the bank’s stock worth $3,769,000 after buying an additional 2,700 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in Shore Bancshares by 9.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 48,706 shares of the bank’s stock worth $681,000 after buying an additional 4,312 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in Shore Bancshares by 12.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 57,086 shares of the bank’s stock worth $657,000 after buying an additional 6,321 shares during the last quarter. Institutional investors own 59.76% of the company’s stock.

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.