Shore Bancshares, Inc. (NASDAQ:SHBI) Stock Holdings Lessened by Russell Investments Group Ltd.

Russell Investments Group Ltd. lowered its stake in Shore Bancshares, Inc. (NASDAQ:SHBI) by 60.9% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 48,136 shares of the bank’s stock after selling 74,948 shares during the period. Russell Investments Group Ltd.’s holdings in Shore Bancshares were worth $805,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. BNP Paribas Arbitrage SA increased its holdings in shares of Shore Bancshares by 59.0% in the first quarter. BNP Paribas Arbitrage SA now owns 5,317 shares of the bank’s stock valued at $90,000 after buying an additional 1,972 shares in the last quarter. New York State Common Retirement Fund increased its holdings in shares of Shore Bancshares by 50.7% in the first quarter. New York State Common Retirement Fund now owns 10,401 shares of the bank’s stock valued at $177,000 after buying an additional 3,501 shares in the last quarter. Millennium Management LLC bought a new position in shares of Shore Bancshares in the first quarter valued at $197,000. Royce & Associates LP bought a new position in shares of Shore Bancshares in the first quarter valued at $303,000. Finally, Martingale Asset Management L P bought a new position in shares of Shore Bancshares in the first quarter valued at $324,000. 72.93% of the stock is currently owned by institutional investors.

NASDAQ SHBI opened at $17.15 on Wednesday. The stock has a market capitalization of $201.56 million, a P/E ratio of 13.50 and a beta of 1.02. Shore Bancshares, Inc. has a 1 year low of $9.72 and a 1 year high of $18.10. The business’s fifty day moving average is $17.45 and its two-hundred day moving average is $17.15. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.90 and a current ratio of 0.90.

Shore Bancshares (NASDAQ:SHBI) last announced its earnings results on Wednesday, July 28th. The bank reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.02. Shore Bancshares had a net margin of 21.15% and a return on equity of 7.76%. The company had revenue of $17.04 million for the quarter, compared to the consensus estimate of $16.61 million. On average, research analysts forecast that Shore Bancshares, Inc. will post 1.2 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 31st. Shareholders of record on Friday, August 13th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 2.80%. The ex-dividend date of this dividend was Thursday, August 12th. Shore Bancshares’s dividend payout ratio (DPR) is currently 37.80%.

About Shore Bancshares

Shore Bancshares, Inc is a financial holding company, which engages in the provision of commercial banking products and services to individuals and businesses. Its services include checking accounts, various savings programs, mortgage loans, home improvement loans, installment and other personal loans, credit cards, personal lines of credit, automobile and other consumer financing, safe deposit boxes, debit cards, 24-hour telephone banking, internet banking, mobile banking, and 24-hour automatic teller machine services.

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Institutional Ownership by Quarter for Shore Bancshares (NASDAQ:SHBI)

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