American Century Companies Inc. Has $8.04 Million Stock Position in Shore Bancshares Inc $SHBI

American Century Companies Inc. increased its position in shares of Shore Bancshares Inc (NASDAQ:SHBI) by 26.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 594,103 shares of the bank’s stock after purchasing an additional 124,921 shares during the quarter. American Century Companies Inc. owned approximately 1.78% of Shore Bancshares worth $8,044,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in SHBI. Wells Fargo & Company MN increased its position in shares of Shore Bancshares by 29.0% during the 4th quarter. Wells Fargo & Company MN now owns 19,253 shares of the bank’s stock worth $305,000 after purchasing an additional 4,329 shares in the last quarter. Invesco Ltd. increased its position in shares of Shore Bancshares by 9.1% during the 4th quarter. Invesco Ltd. now owns 50,622 shares of the bank’s stock worth $802,000 after purchasing an additional 4,230 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Shore Bancshares during the 4th quarter worth about $279,000. Barclays PLC increased its position in shares of Shore Bancshares by 7.2% during the 4th quarter. Barclays PLC now owns 91,087 shares of the bank’s stock worth $1,443,000 after purchasing an additional 6,145 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Shore Bancshares by 4.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,346,364 shares of the bank’s stock worth $21,340,000 after purchasing an additional 57,115 shares in the last quarter. Institutional investors and hedge funds own 59.76% of the company’s stock.

Insider Activity at Shore Bancshares

In other Shore Bancshares news, Director Michael Brian Adams purchased 10,000 shares of the stock in a transaction dated Friday, August 1st. The stock was bought at an average price of $15.00 per share, for a total transaction of $150,000.00. Following the transaction, the director directly owned 44,912 shares in the company, valued at $673,680. This represents a 28.64% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. In the last ninety days, insiders have purchased 11,250 shares of company stock worth $168,218. 8.69% of the stock is owned by insiders.

Shore Bancshares Trading Up 1.1%

SHBI opened at $17.10 on Thursday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $571.48 million, a PE ratio of 10.62 and a beta of 1.04. Shore Bancshares Inc has a 1-year low of $11.47 and a 1-year high of $17.61. The firm has a 50-day moving average price of $16.02 and a two-hundred day moving average price of $14.80.

Shore Bancshares (NASDAQ:SHBI) last posted its quarterly earnings data on Thursday, July 24th. The bank reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.10. The firm had revenue of $56.57 million during the quarter, compared to analysts’ expectations of $53.77 million. Shore Bancshares had a net margin of 15.98% and a return on equity of 10.98%. As a group, equities analysts anticipate that Shore Bancshares Inc will post 1.59 earnings per share for the current fiscal year.

Shore Bancshares Dividend Announcement

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

Wall Street Analyst Weigh In

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, According to MarketBeat, Shore Bancshares has an average rating of “Buy” and an average target price of $20.00.

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.