Creative Planning Grows Stake in Shore Bancshares, Inc. (NASDAQ:SHBI)

Creative Planning raised its stake in Shore Bancshares, Inc. (NASDAQ:SHBI) by 30.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 37,674 shares of the bank’s stock after acquiring an additional 8,831 shares during the period. Creative Planning owned approximately 0.11% of Shore Bancshares worth $527,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. American Century Companies Inc. boosted its position 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 valued at $2,238,000 after buying an additional 45,692 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Shore Bancshares by 12.4% during the second 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 during the last quarter. Bank of Montreal Can purchased a new stake in shares of Shore Bancshares during the second quarter valued at $899,000. Vanguard Group Inc. boosted its position in shares of Shore Bancshares by 0.7% during the first quarter. Vanguard Group Inc. now owns 1,619,605 shares of the bank’s stock valued at $18,625,000 after buying an additional 11,544 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position 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 valued at $13,839,000 after buying an additional 77,961 shares during the last quarter. 59.76% of the stock is owned by hedge funds and other institutional investors.

Shore Bancshares Trading Up 1.4 %

Shares of NASDAQ:SHBI opened at $14.61 on Wednesday. The stock has a market capitalization of $486.75 million, a price-to-earnings ratio of 11.69 and a beta of 0.95. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.93 and a current ratio of 0.94. The stock’s 50-day simple moving average is $14.07 and its two-hundred day simple moving average is $12.66. Shore Bancshares, Inc. has a 52-week low of $10.06 and a 52-week high of $15.02.

Shore Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Tuesday, November 12th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 3.29%. The ex-dividend date is Tuesday, November 12th. Shore Bancshares’s dividend payout ratio (DPR) is currently 38.40%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Janney Montgomery Scott cut Shore Bancshares from a “buy” rating to a “neutral” rating in a research report on Tuesday, July 30th. Keefe, Bruyette & Woods raised their target price on Shore Bancshares from $13.00 to $15.00 and gave the stock a “market perform” rating in a research report on Friday, July 26th.

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.