Shore Bancshares, Inc. (NASDAQ:SHBI) Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lifted its holdings in shares of Shore Bancshares, Inc. (NASDAQ:SHBI) by 2.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 86,435 shares of the bank’s stock after buying an additional 2,231 shares during the period. Charles Schwab Investment Management Inc. owned about 0.26% of Shore Bancshares worth $1,209,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Rhumbline Advisers raised its position in Shore Bancshares by 6.5% in 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. Assenagon Asset Management S.A. grew its stake in shares of Shore Bancshares by 9.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 48,706 shares of the bank’s stock worth $681,000 after purchasing an additional 4,312 shares during the period. Creative Planning increased its holdings in shares of Shore Bancshares by 30.6% in the 3rd quarter. Creative Planning now owns 37,674 shares of the bank’s stock valued at $527,000 after purchasing an additional 8,831 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Shore Bancshares in the third quarter valued at about $156,000. Finally, AQR Capital Management LLC purchased a new stake in Shore Bancshares during the second quarter worth about $147,000. 59.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Shore Bancshares Trading Down 1.5 %

Shares of SHBI stock opened at $16.88 on Wednesday. Shore Bancshares, Inc. has a fifty-two week low of $10.06 and a fifty-two week high of $17.61. 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 $15.62 and a 200-day simple moving average of $13.79. The stock has a market cap of $562.56 million, a P/E ratio of 13.50 and a beta of 0.97.

Shore Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Tuesday, November 12th were given a $0.12 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $0.48 annualized dividend and a dividend yield of 2.84%. Shore Bancshares’s dividend payout ratio is presently 38.40%.

Insider Transactions at Shore Bancshares

In related news, Director Konrad Wayson acquired 3,000 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were 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 in the company, valued at approximately $902,326.04. The trade was a 5.97 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate 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.