State Street Corp Increases Stake in Shore Bancshares Inc (SHBI)
State Street Corp increased its holdings in Shore Bancshares Inc (NASDAQ:SHBI) by 39.3% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 235,826 shares of the bank’s stock after purchasing an additional 66,542 shares during the period. State Street Corp owned approximately 1.86% of Shore Bancshares worth $3,877,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Shore Bancshares by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 464,992 shares of the bank’s stock valued at $7,649,000 after purchasing an additional 6,535 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Shore Bancshares by 10.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 258,475 shares of the bank’s stock valued at $4,252,000 after purchasing an additional 23,504 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Shore Bancshares by 3.3% in the 2nd quarter. Northern Trust Corp now owns 142,861 shares of the bank’s stock valued at $2,350,000 after purchasing an additional 4,552 shares in the last quarter. Context BH Capital Management LP boosted its stake in shares of Shore Bancshares by 3.1% in the 2nd quarter. Context BH Capital Management LP now owns 135,649 shares of the bank’s stock valued at $2,231,000 after purchasing an additional 4,137 shares in the last quarter. Finally, Numeric Investors LLC purchased a new stake in shares of Shore Bancshares in the 2nd quarter valued at $1,981,000. 68.47% of the stock is owned by institutional investors.
Shares of Shore Bancshares Inc (NASDAQ SHBI) opened at $18.02 on Friday. Shore Bancshares Inc has a 12 month low of $14.64 and a 12 month high of $18.10. The stock has a market cap of $228.64, a price-to-earnings ratio of 19.46 and a beta of 0.13.
Shore Bancshares (NASDAQ:SHBI) last announced its quarterly earnings data on Thursday, October 19th. The bank reported $0.27 earnings per share (EPS) for the quarter, beating 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 7.20%. The company had revenue of $16.75 million during the quarter.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 30th. Stockholders of record on Wednesday, November 15th were paid a $0.07 dividend. This is a boost from Shore Bancshares’s previous quarterly dividend of $0.05. The ex-dividend date was Tuesday, November 14th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.55%. Shore Bancshares’s dividend payout ratio is 32.18%.
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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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