Acadian Asset Management LLC Sells 11,848 Shares of Shore Bancshares, Inc. (NASDAQ:SHBI)

Acadian Asset Management LLC lessened its holdings in shares of Shore Bancshares, Inc. (NASDAQ:SHBI) by 13.0% during the 2nd quarter, Holdings Channel.com reports. The fund owned 78,980 shares of the bank’s stock after selling 11,848 shares during the period. Acadian Asset Management LLC’s holdings in Shore Bancshares were worth $902,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SHBI. Black Maple Capital Management LP raised its position in Shore Bancshares by 18.0% during the fourth quarter. Black Maple Capital Management LP now owns 25,028 shares of the bank’s stock valued at $357,000 after acquiring an additional 3,821 shares in the last quarter. Gendell Jeffrey L raised its position in Shore Bancshares by 17.1% during the fourth quarter. Gendell Jeffrey L now owns 273,410 shares of the bank’s stock valued at $3,896,000 after acquiring an additional 40,000 shares in the last quarter. Assenagon Asset Management S.A. raised its position in Shore Bancshares by 38.0% during the first quarter. Assenagon Asset Management S.A. now owns 91,396 shares of the bank’s stock valued at $1,051,000 after acquiring an additional 25,155 shares in the last quarter. Diversify Advisory Services LLC bought a new position in Shore Bancshares during the first quarter valued at approximately $216,000. Finally, BNP Paribas Financial Markets raised its position in Shore Bancshares by 428.0% during the first quarter. BNP Paribas Financial Markets now owns 42,829 shares of the bank’s stock valued at $493,000 after acquiring an additional 34,717 shares in the last quarter. Institutional investors own 59.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on SHBI shares. Janney Montgomery Scott lowered shares of Shore Bancshares from a “buy” rating to a “neutral” rating in a research report on Tuesday, July 30th. Keefe, Bruyette & Woods lifted their price target on shares of Shore Bancshares from $13.00 to $15.00 and gave the company a “market perform” rating in a research report on Friday, July 26th.

Shore Bancshares Trading Up 1.4 %

NASDAQ:SHBI opened at $14.14 on Tuesday. Shore Bancshares, Inc. has a 12 month low of $9.66 and a 12 month high of $14.99. The firm has a market cap of $469.79 million, a price-to-earnings ratio of 24.38 and a beta of 0.96. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.29. The company’s 50 day moving average is $13.45 and its 200-day moving average is $11.84.

Shore Bancshares (NASDAQ:SHBI) last announced its earnings results on Thursday, July 25th. The bank reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.06. The business had revenue of $50.66 million for the quarter. Shore Bancshares had a net margin of 7.18% and a return on equity of 8.37%. Equities analysts anticipate that Shore Bancshares, Inc. will post 1.5 EPS for the current year.

Shore Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 12th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 3.39%. The ex-dividend date of this dividend was Monday, August 12th. Shore Bancshares’s payout ratio is currently 82.76%.

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.