Barclays PLC Raises Stake in Shore Bancshares, Inc. (NASDAQ:SHBI)

Barclays PLC boosted its holdings in Shore Bancshares, Inc. (NASDAQ:SHBI) by 48.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 84,942 shares of the bank’s stock after buying an additional 27,627 shares during the period. Barclays PLC owned approximately 0.25% of Shore Bancshares worth $1,189,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. lifted its stake in shares of Shore Bancshares by 2.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 86,435 shares of the bank’s stock worth $1,209,000 after purchasing an additional 2,231 shares in the last quarter. Rhumbline Advisers grew its position in Shore Bancshares by 6.5% in the second quarter. Rhumbline Advisers now owns 43,240 shares of the bank’s stock valued at $495,000 after acquiring an additional 2,639 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its stake in shares of Shore Bancshares by 1.0% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 269,375 shares of the bank’s stock valued at $3,769,000 after purchasing an additional 2,700 shares during the period. Assenagon Asset Management S.A. grew its holdings in Shore Bancshares by 9.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 48,706 shares of the bank’s stock valued at $681,000 after purchasing an additional 4,312 shares in the last quarter. Finally, Creative Planning increased its stake in Shore Bancshares by 30.6% during the 3rd quarter. Creative Planning now owns 37,674 shares of the bank’s stock worth $527,000 after buying an additional 8,831 shares during the period. 59.76% of the stock is owned by institutional investors and hedge funds.

Shore Bancshares Price Performance

Shares of SHBI opened at $14.79 on Tuesday. Shore Bancshares, Inc. has a 12 month low of $10.06 and a 12 month high of $17.61. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.94 and a quick ratio of 0.93. The stock has a fifty day moving average price of $16.19 and a 200 day moving average price of $14.47. The company has a market cap of $492.91 million, a P/E ratio of 11.83 and a beta of 0.97.

Shore Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Tuesday, November 12th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $0.48 annualized dividend and a dividend yield of 3.25%. Shore Bancshares’s dividend payout ratio is presently 38.40%.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods upgraded Shore Bancshares from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $16.00 to $20.00 in a research note on Wednesday, December 4th.

Insiders Place Their Bets

In other news, Director Konrad Wayson bought 3,000 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was acquired at an average price of $16.94 per share, with a total value of $50,820.00. Following the completion of the purchase, 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 acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 8.57% of the stock is currently owned by insiders.

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.