Shore Bancshares, Inc. (NASDAQ:SHBI) is Fourthstone LLC’s 2nd Largest Position

Fourthstone LLC raised its position in Shore Bancshares, Inc. (NASDAQ:SHBI) by 1.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,329,922 shares of the bank’s stock after purchasing an additional 54,679 shares during the period. Shore Bancshares accounts for 10.4% of Fourthstone LLC’s investment portfolio, making the stock its 2nd largest holding. Fourthstone LLC owned approximately 9.99% of Shore Bancshares worth $46,586,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of SHBI. Vanguard Group Inc. boosted 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 in the last quarter. Dimensional Fund Advisors LP raised its stake in Shore Bancshares by 6.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,208,740 shares of the bank’s stock worth $13,839,000 after acquiring an additional 77,961 shares in the last quarter. Renaissance Technologies LLC raised its stake in Shore Bancshares by 12.4% during the 2nd quarter. Renaissance Technologies LLC now owns 411,615 shares of the bank’s stock worth $4,713,000 after acquiring an additional 45,300 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Shore Bancshares by 5.6% in the second quarter. Bank of New York Mellon Corp now owns 252,577 shares of the bank’s stock valued at $2,892,000 after acquiring an additional 13,345 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in Shore Bancshares by 30.5% in the second 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 in the last quarter. 59.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Shore Bancshares

In related news, Director Konrad Wayson purchased 3,000 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was purchased at an average cost of $16.94 per share, with a total value of $50,820.00. Following the completion of the acquisition, the director now directly owns 53,266 shares in the company, valued at $902,326.04. This trade represents a 5.97 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 8.57% of the company’s stock.

Shore Bancshares Stock Performance

NASDAQ:SHBI traded down $0.04 during mid-day trading on Thursday, reaching $16.44. 72,186 shares of the stock were exchanged, compared to its average volume of 85,053. The stock has a market capitalization of $547.95 million, a P/E ratio of 13.15 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 50 day simple moving average of $14.80 and a 200-day simple moving average of $13.26. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.23.

Shore Bancshares Dividend Announcement

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

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.