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

Thrivent Financial for Lutherans increased its holdings in shares of Shore Bancshares, Inc. (NASDAQ:SHBI) by 53.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 72,458 shares of the bank’s stock after acquiring an additional 25,370 shares during the period. Thrivent Financial for Lutherans owned approximately 0.22% of Shore Bancshares worth $1,013,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Bank of Montreal Can acquired a new stake in shares of Shore Bancshares in the second quarter valued at about $899,000. Dimensional Fund Advisors LP boosted its stake in shares of 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. American Century Companies Inc. increased its stake in Shore Bancshares by 30.5% in the 2nd quarter. American Century Companies Inc. now owns 195,418 shares of the bank’s stock valued at $2,238,000 after purchasing an additional 45,692 shares in the last quarter. Renaissance Technologies LLC raised its holdings in 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 during the last quarter. Finally, Curi RMB Capital LLC boosted its position in Shore Bancshares by 13.8% during the third quarter. Curi RMB Capital LLC now owns 175,164 shares of the bank’s stock worth $2,451,000 after purchasing an additional 21,191 shares in the last quarter. Hedge funds and other institutional investors own 59.76% of the company’s stock.

Insiders Place Their Bets

In other news, Director Konrad Wayson purchased 3,000 shares of the stock in a transaction dated Monday, November 25th. The stock was acquired at an average cost of $16.94 per share, for a total transaction 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 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. 8.57% of the stock is currently owned by company insiders.

Shore Bancshares Trading Up 1.1 %

Shares of SHBI stock opened at $16.63 on Tuesday. Shore Bancshares, Inc. has a fifty-two week low of $10.06 and a fifty-two week high of $17.03. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.23. The business has a fifty day simple moving average of $14.93 and a 200-day simple moving average of $13.39. The stock has a market cap of $554.28 million, a P/E ratio of 13.30 and a beta of 0.95.

Shore Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Tuesday, November 12th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date was Tuesday, November 12th. Shore Bancshares’s dividend payout ratio (DPR) is presently 38.40%.

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.