Nationwide Fund Advisors Boosts Position in Shore Bancshares Inc (SHBI)
Nationwide Fund Advisors increased its stake in shares of Shore Bancshares Inc (NASDAQ:SHBI) by 7.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 20,196 shares of the bank’s stock after purchasing an additional 1,400 shares during the quarter. Nationwide Fund Advisors owned approximately 0.16% of Shore Bancshares worth $332,000 as of its most recent filing with the SEC.
Other hedge funds also recently bought and sold shares of the company. Renaissance Technologies LLC lifted its stake in Shore Bancshares by 9.8% in the first quarter. Renaissance Technologies LLC now owns 295,100 shares of the bank’s stock valued at $4,931,000 after acquiring an additional 26,400 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Shore Bancshares by 14.0% in the second quarter. Bank of New York Mellon Corp now owns 83,799 shares of the bank’s stock valued at $1,378,000 after purchasing an additional 10,315 shares during the period. Vanguard Group Inc. raised its position in shares of Shore Bancshares by 3.3% in the first quarter. Vanguard Group Inc. now owns 458,457 shares of the bank’s stock valued at $7,661,000 after purchasing an additional 14,853 shares during the period. JPMorgan Chase & Co. raised its position in shares of Shore Bancshares by 183.3% in the first quarter. JPMorgan Chase & Co. now owns 79,206 shares of the bank’s stock valued at $1,324,000 after purchasing an additional 51,248 shares during the period. Finally, TIAA CREF Investment Management LLC raised its position in shares of Shore Bancshares by 2.1% in the first quarter. TIAA CREF Investment Management LLC now owns 41,736 shares of the bank’s stock valued at $697,000 after purchasing an additional 875 shares during the period. Institutional investors and hedge funds own 68.05% of the company’s stock.
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Shore Bancshares Inc (SHBI) opened at $16.79 on Friday. Shore Bancshares Inc has a 52-week low of $13.20 and a 52-week high of $17.92. The company has a market cap of $213.27, a P/E ratio of 18.68 and a beta of 0.13.
Shore Bancshares (NASDAQ:SHBI) last announced its earnings results on Thursday, October 19th. The bank reported $0.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.02. Shore Bancshares had a net margin of 17.61% and a return on equity of 7.26%. The business had revenue of $16.75 million for the quarter.
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Investors of record on Wednesday, November 15th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $0.28 dividend on an annualized basis and a yield of 1.67%. This is a positive change from Shore Bancshares’s previous quarterly dividend of $0.05. Shore Bancshares’s payout ratio is 22.73%.
Shore Bancshares Company Profile
Shore Bancshares, Inc is a financial holding company. The Company acts as the parent company to several financial institution and insurance entities. The Company has two business segments: Community Banking, and Insurance Products and Services. Its Community Banking segment provides services to consumers and small businesses on the Eastern Shore of Maryland and in Delaware.
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