BNP Paribas Financial Markets Sells 18,424 Shares of Shore Bancshares, Inc. (NASDAQ:SHBI)

BNP Paribas Financial Markets lowered its stake in shares of Shore Bancshares, Inc. (NASDAQ:SHBI) by 41.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,565 shares of the bank’s stock after selling 18,424 shares during the quarter. BNP Paribas Financial Markets owned about 0.08% of Shore Bancshares worth $358,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Shore Bancshares in the third quarter worth about $763,000. American Century Companies Inc. boosted its holdings in Shore Bancshares by 30.5% in the second quarter. American Century Companies Inc. now owns 195,418 shares of the bank’s stock worth $2,238,000 after acquiring an additional 45,692 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Shore Bancshares by 12.4% in the second quarter. Renaissance Technologies LLC now owns 411,615 shares of the bank’s stock worth $4,713,000 after acquiring an additional 45,300 shares in the last quarter. Thrivent Financial for Lutherans boosted its holdings in Shore Bancshares by 53.9% in the third quarter. Thrivent Financial for Lutherans now owns 72,458 shares of the bank’s stock worth $1,013,000 after acquiring an additional 25,370 shares in the last quarter. Finally, Creative Planning boosted its holdings in Shore Bancshares by 30.6% in the third quarter. Creative Planning now owns 37,674 shares of the bank’s stock worth $527,000 after acquiring an additional 8,831 shares in the last quarter. Institutional investors own 59.76% of the company’s stock.

Shore Bancshares Trading Down 1.1 %

Shares of NASDAQ:SHBI opened at $16.95 on Friday. Shore Bancshares, Inc. has a 52-week low of $10.06 and a 52-week high of $17.61. The stock has a market cap of $564.94 million, a price-to-earnings ratio of 13.56 and a beta of 0.97. 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 50-day moving average price of $15.54 and a 200-day moving average price of $13.73.

Shore Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Tuesday, November 12th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 2.83%. The ex-dividend date was Tuesday, November 12th. Shore Bancshares’s payout ratio is 38.40%.

Analysts Set New Price Targets

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

Insider Transactions at Shore Bancshares

In related news, Director Konrad Wayson purchased 3,000 shares of Shore Bancshares stock in a transaction that occurred on Monday, November 25th. The stock was bought at an average cost of $16.94 per share, for a total transaction of $50,820.00. Following the completion of the transaction, the director now owns 53,266 shares in the company, valued at $902,326.04. The trade was a 5.97 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 8.57% of the company’s stock.

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.