Shore Bancshares, Inc. (NASDAQ:SHBI) Position Decreased by Acadian Asset Management LLC

Acadian Asset Management LLC decreased its holdings in shares of Shore Bancshares, Inc. (NASDAQ:SHBI) by 13.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 78,980 shares of the bank’s stock after selling 11,848 shares during the period. Acadian Asset Management LLC owned approximately 0.24% of Shore Bancshares worth $902,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in SHBI. Black Maple Capital Management LP boosted its holdings in shares of Shore Bancshares by 18.0% in the fourth quarter. Black Maple Capital Management LP now owns 25,028 shares of the bank’s stock worth $357,000 after buying an additional 3,821 shares during the period. Gendell Jeffrey L boosted its holdings in shares of Shore Bancshares by 17.1% in the fourth quarter. Gendell Jeffrey L now owns 273,410 shares of the bank’s stock worth $3,896,000 after buying an additional 40,000 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of Shore Bancshares by 38.0% in the first quarter. Assenagon Asset Management S.A. now owns 91,396 shares of the bank’s stock worth $1,051,000 after buying an additional 25,155 shares during the period. Diversify Advisory Services LLC acquired a new position in shares of Shore Bancshares in the first quarter worth about $216,000. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Shore Bancshares by 428.0% in the first quarter. BNP Paribas Financial Markets now owns 42,829 shares of the bank’s stock worth $493,000 after buying an additional 34,717 shares during the period. Institutional investors own 59.76% of the company’s stock.

Wall Street Analyst Weigh In

SHBI has been the subject of several recent analyst reports. Janney Montgomery Scott cut shares of Shore Bancshares from a “buy” rating to a “neutral” rating in a report on Tuesday, July 30th. Keefe, Bruyette & Woods raised their target price on shares of Shore Bancshares from $13.00 to $15.00 and gave the stock a “market perform” rating in a report on Friday, July 26th.

Shore Bancshares Stock Performance

SHBI stock opened at $14.14 on Tuesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.93 and a current ratio of 0.94. The stock has a market cap of $469.79 million, a P/E ratio of 24.38 and a beta of 0.96. The firm has a 50 day simple moving average of $13.45 and a 200 day simple moving average of $11.84. Shore Bancshares, Inc. has a 52 week low of $9.66 and a 52 week high of $14.99.

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

Shore Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 12th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 3.39%. The ex-dividend date of this dividend was Monday, August 12th. Shore Bancshares’s dividend payout ratio is currently 82.76%.

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.