274,472 Shares in Shore Bancshares Inc $SHBI Purchased by Nuveen LLC

Nuveen LLC purchased a new position in shares of Shore Bancshares Inc (NASDAQ:SHBI) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 274,472 shares of the bank’s stock, valued at approximately $3,716,000. Nuveen LLC owned about 0.82% of Shore Bancshares as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in SHBI. Investment Management Corp VA ADV acquired a new stake in Shore Bancshares in the fourth quarter valued at about $38,000. Occudo Quantitative Strategies LP acquired a new stake in Shore Bancshares in the fourth quarter valued at about $179,000. Bailard Inc. acquired a new stake in Shore Bancshares in the first quarter valued at about $210,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Shore Bancshares by 3.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,446 shares of the bank’s stock valued at $277,000 after purchasing an additional 609 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in Shore Bancshares in the fourth quarter valued at about $279,000. Hedge funds and other institutional investors own 59.76% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of Shore Bancshares from a “hold” rating to a “buy” rating in a research report on Saturday, July 26th. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $20.00.

Shore Bancshares Price Performance

Shares of NASDAQ:SHBI opened at $17.10 on Thursday. The business’s 50 day simple moving average is $16.02 and its 200-day simple moving average is $14.80. The firm has a market capitalization of $571.48 million, a price-to-earnings ratio of 10.62 and a beta of 1.04. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.94 and a quick ratio of 0.94. Shore Bancshares Inc has a 12 month low of $11.47 and a 12 month high of $17.61.

Shore Bancshares (NASDAQ:SHBI) last announced its quarterly earnings results on Thursday, July 24th. The bank reported $0.51 EPS for the quarter, topping the consensus estimate of $0.41 by $0.10. The business had revenue of $56.57 million for the quarter, compared to analyst estimates of $53.77 million. Shore Bancshares had a return on equity of 10.98% and a net margin of 15.98%. As a group, equities analysts forecast that Shore Bancshares Inc will post 1.59 earnings per share for the current fiscal year.

Shore Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 25th. Stockholders of record on Monday, August 11th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Monday, August 11th. This represents a $0.48 annualized dividend and a dividend yield of 2.8%. Shore Bancshares’s payout ratio is 29.81%.

Insider Activity at Shore Bancshares

In other news, Director Michael Brian Adams purchased 10,000 shares of the firm’s stock in a transaction dated Friday, August 1st. The shares were acquired at an average price of $15.00 per share, with a total value of $150,000.00. Following the purchase, the director directly owned 44,912 shares of the company’s stock, valued at $673,680. The trade was a 28.64% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Over the last 90 days, insiders purchased 11,250 shares of company stock worth $168,218. 8.69% of the stock is owned by insiders.

About Shore Bancshares

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.