Dimensional Fund Advisors LP Acquires 77,961 Shares of Shore Bancshares, Inc. (NASDAQ:SHBI)

Dimensional Fund Advisors LP boosted its holdings in Shore Bancshares, Inc. (NASDAQ:SHBI) by 6.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,208,740 shares of the bank’s stock after purchasing an additional 77,961 shares during the period. Dimensional Fund Advisors LP owned about 3.64% of Shore Bancshares worth $13,839,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SHBI. American Century Companies Inc. increased 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. Rhumbline Advisers raised its position in Shore Bancshares by 6.5% during the second quarter. Rhumbline Advisers now owns 43,240 shares of the bank’s stock worth $495,000 after acquiring an additional 2,639 shares in the last quarter. Bank of New York Mellon Corp lifted its stake 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. Black Maple Capital Management LP lifted its stake in Shore Bancshares by 20.0% in the first quarter. Black Maple Capital Management LP now owns 30,028 shares of the bank’s stock valued at $345,000 after acquiring an additional 5,000 shares during the last quarter. Finally, Gendell Jeffrey L grew its position in shares of Shore Bancshares by 3.7% in the 1st quarter. Gendell Jeffrey L now owns 283,410 shares of the bank’s stock valued at $3,259,000 after acquiring an additional 10,000 shares during the period. 59.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently issued reports on SHBI. Janney Montgomery Scott downgraded shares of Shore Bancshares from a “buy” rating to a “neutral” rating in a research note on Tuesday, July 30th. Keefe, Bruyette & Woods upped their price objective on Shore Bancshares from $13.00 to $15.00 and gave the company a “market perform” rating in a research note on Friday, July 26th.

Shore Bancshares Price Performance

Shares of NASDAQ:SHBI opened at $13.39 on Friday. The firm has a 50 day moving average of $13.73 and a 200-day moving average of $12.13. Shore Bancshares, Inc. has a 12 month low of $9.66 and a 12 month high of $14.99. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $446.15 million, a PE ratio of 23.09 and a beta of 0.96.

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

Shore Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders 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 3.58%. The ex-dividend date was Monday, August 12th. Shore Bancshares’s dividend payout ratio (DPR) is currently 82.76%.

Shore Bancshares Company 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.