Shore Bancshares, Inc. (NASDAQ:SHBI) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lessened its stake in Shore Bancshares, Inc. (NASDAQ:SHBI) by 4.1% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 47,088 shares of the bank’s stock after selling 2,013 shares during the quarter. Thrivent Financial for Lutherans owned 0.14% of Shore Bancshares worth $539,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Dimensional Fund Advisors LP lifted its stake in Shore Bancshares by 6.9% in the second 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 during the last quarter. American Century Companies Inc. lifted 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 worth $2,238,000 after purchasing an additional 45,692 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Shore Bancshares by 12.4% during the second quarter. Renaissance Technologies LLC now owns 411,615 shares of the bank’s stock worth $4,713,000 after purchasing an additional 45,300 shares in the last quarter. Gendell Jeffrey L grew its stake in shares of Shore Bancshares by 17.1% during the fourth quarter. Gendell Jeffrey L now owns 273,410 shares of the bank’s stock worth $3,896,000 after purchasing an additional 40,000 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in Shore Bancshares by 428.0% in the first quarter. BNP Paribas Financial Markets now owns 42,829 shares of the bank’s stock valued at $493,000 after buying an additional 34,717 shares during the last quarter. 59.76% of the stock is owned by institutional investors and hedge funds.

Shore Bancshares Stock Performance

NASDAQ SHBI opened at $13.30 on Wednesday. The company has a fifty day moving average of $13.68 and a two-hundred day moving average of $12.16. The company has a market capitalization of $441.88 million, a PE ratio of 22.93 and a beta of 0.96. Shore Bancshares, Inc. has a 1 year low of $9.66 and a 1 year high of $14.99. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.94 and a quick ratio of 0.93.

Shore Bancshares (NASDAQ:SHBI) last posted its earnings results on Thursday, July 25th. The bank reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.06. The business had revenue of $50.66 million during the quarter. Shore Bancshares had a return on equity of 8.37% and a net margin of 7.18%. As a group, analysts expect that Shore Bancshares, Inc. will post 1.5 earnings per share for the current year.

Shore Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 12th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 3.61%. The ex-dividend date of this dividend was Monday, August 12th. Shore Bancshares’s payout ratio is currently 82.76%.

Analyst Ratings Changes

A number of research firms have recently commented on SHBI. Keefe, Bruyette & Woods increased their price objective on Shore Bancshares from $13.00 to $15.00 and gave the company a “market perform” rating in a report on Friday, July 26th. Janney Montgomery Scott lowered shares of Shore Bancshares from a “buy” rating to a “neutral” rating in a research note on Tuesday, July 30th.

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.