Insider Buying: Shore Bancshares, Inc. (NASDAQ:SHBI) Director Purchases $50,820.00 in Stock

Shore Bancshares, Inc. (NASDAQ:SHBI) Director Konrad Wayson bought 3,000 shares of Shore Bancshares stock in a transaction on Monday, November 25th. The shares were bought at an average cost of $16.94 per share, with a total value of $50,820.00. Following the acquisition, the director now directly owns 53,266 shares in the company, valued at approximately $902,326.04. This represents a 5.97 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Shore Bancshares Stock Down 0.2 %

SHBI stock opened at $16.44 on Thursday. 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 firm has a market capitalization of $547.95 million, a PE ratio of 13.18 and a beta of 0.95. Shore Bancshares, Inc. has a twelve month low of $10.06 and a twelve month high of $17.03. The stock has a 50-day simple moving average of $14.76 and a two-hundred day simple moving average of $13.24.

Shore Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Tuesday, November 12th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date of this dividend is Tuesday, November 12th. Shore Bancshares’s payout ratio is presently 38.40%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in SHBI. Bank of Montreal Can purchased a new position in Shore Bancshares during the 2nd quarter valued at about $899,000. Dimensional Fund Advisors LP grew its holdings in shares of Shore Bancshares by 6.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,208,740 shares of the bank’s stock worth $13,839,000 after purchasing an additional 77,961 shares in the last quarter. Fourthstone LLC grew its holdings in shares of Shore Bancshares by 1.7% during the third quarter. Fourthstone LLC now owns 3,329,922 shares of the bank’s stock worth $46,586,000 after purchasing an additional 54,679 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Shore Bancshares during the third quarter worth about $763,000. Finally, American Century Companies Inc. grew its holdings in shares of Shore Bancshares by 30.5% during the second 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 in the last quarter. Hedge funds and other institutional investors own 59.76% of the company’s stock.

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.