Shore Bancshares, Inc. (NASDAQ:SHBI) Director Konrad Wayson Purchases 3,000 Shares of Stock

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

Shore Bancshares Price Performance

SHBI stock opened at $16.63 on Tuesday. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.23. The firm’s 50-day moving average price is $14.66 and its two-hundred day moving average price is $13.16. The stock has a market capitalization of $554.28 million, a price-to-earnings ratio of 13.30 and a beta of 0.95. Shore Bancshares, Inc. has a 12-month low of $10.06 and a 12-month high of $17.03.

Shore Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Tuesday, November 12th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $0.48 annualized dividend and a dividend yield of 2.89%. Shore Bancshares’s dividend payout ratio (DPR) is presently 38.40%.

Analyst Upgrades and Downgrades

Separately, Janney Montgomery Scott cut Shore Bancshares from a “buy” rating to a “neutral” rating in a research report on Tuesday, July 30th.

Institutional Investors Weigh In On Shore Bancshares

Several institutional investors and hedge funds have recently modified their holdings of the stock. American Century Companies Inc. lifted its holdings in Shore Bancshares by 30.5% in the second quarter. American Century Companies Inc. now owns 195,418 shares of the bank’s stock worth $2,238,000 after buying an additional 45,692 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Shore Bancshares by 12.4% during the 2nd quarter. Renaissance Technologies LLC now owns 411,615 shares of the bank’s stock valued at $4,713,000 after buying an additional 45,300 shares in the last quarter. Creative Planning increased its stake in shares of Shore Bancshares by 30.6% in the 3rd quarter. Creative Planning now owns 37,674 shares of the bank’s stock worth $527,000 after acquiring an additional 8,831 shares in the last quarter. Bank of Montreal Can purchased a new position in Shore Bancshares during the 2nd quarter valued at about $899,000. Finally, Vanguard Group Inc. boosted its stake in Shore Bancshares by 0.7% during the first quarter. Vanguard Group Inc. now owns 1,619,605 shares of the bank’s stock worth $18,625,000 after acquiring an additional 11,544 shares in the last quarter. 59.76% of the stock is owned by hedge funds and other institutional investors.

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.