American Century Companies Inc. Grows Position in Shore Bancshares, Inc. (NASDAQ:SHBI)

American Century Companies Inc. lifted its position in shares of Shore Bancshares, Inc. (NASDAQ:SHBI) by 30.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 195,418 shares of the bank’s stock after buying an additional 45,692 shares during the period. American Century Companies Inc.’s holdings in Shore Bancshares were worth $2,238,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of SHBI. Quadrature Capital Ltd purchased a new position in shares of Shore Bancshares during the 1st quarter valued at about $200,000. Diversify Advisory Services LLC purchased a new position in shares of Shore Bancshares during the 1st quarter valued at about $216,000. Black Maple Capital Management LP raised its holdings in shares of Shore Bancshares by 20.0% during the 1st quarter. Black Maple Capital Management LP now owns 30,028 shares of the bank’s stock valued at $345,000 after buying an additional 5,000 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Shore Bancshares by 428.0% during the 1st quarter. BNP Paribas Financial Markets now owns 42,829 shares of the bank’s stock valued at $493,000 after buying an additional 34,717 shares in the last quarter. Finally, Rhumbline Advisers grew its position in Shore Bancshares by 6.5% during the 2nd quarter. Rhumbline Advisers now owns 43,240 shares of the bank’s stock worth $495,000 after acquiring an additional 2,639 shares during the last quarter. 59.76% of the stock is owned by hedge funds and other institutional investors.

Shore Bancshares Price Performance

Shares of SHBI stock opened at $13.76 on Friday. The firm has a market cap of $458.48 million, a P/E ratio of 23.72 and a beta of 0.96. Shore Bancshares, Inc. has a fifty-two week low of $9.66 and a fifty-two week high of $14.99. The business’s 50 day moving average price is $13.78 and its 200-day moving average price is $12.03. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.93 and a current ratio of 0.94.

Shore Bancshares (NASDAQ:SHBI) last released its quarterly earnings results on Thursday, July 25th. The bank reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.06. Shore Bancshares had a return on equity of 8.37% and a net margin of 7.18%. The company had revenue of $50.66 million for the quarter. On average, equities research analysts anticipate that Shore Bancshares, Inc. will post 1.5 earnings per share for the current year.

Shore Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 12th were given a dividend of $0.12 per share. The ex-dividend date was Monday, August 12th. This represents a $0.48 annualized dividend and a dividend yield of 3.49%. Shore Bancshares’s dividend payout ratio is presently 82.76%.

Wall Street Analysts Forecast Growth

SHBI has been the topic of several recent research reports. Keefe, Bruyette & Woods raised their price target 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. Janney Montgomery Scott lowered Shore Bancshares from a “buy” rating to a “neutral” rating in a research report on Tuesday, July 30th.

Shore Bancshares 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.