Empowered Funds LLC Has $1.39 Million Holdings in Shore Bancshares, Inc. (NASDAQ:SHBI)

Empowered Funds LLC decreased its holdings in shares of Shore Bancshares, Inc. (NASDAQ:SHBI) by 29.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 99,639 shares of the bank’s stock after selling 40,687 shares during the quarter. Empowered Funds LLC owned about 0.30% of Shore Bancshares worth $1,394,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. American Century Companies Inc. boosted its stake in Shore Bancshares by 30.5% in the second quarter. American Century Companies Inc. now owns 195,418 shares of the bank’s stock valued at $2,238,000 after acquiring an additional 45,692 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Shore Bancshares by 12.4% in the 2nd quarter. Renaissance Technologies LLC now owns 411,615 shares of the bank’s stock worth $4,713,000 after purchasing an additional 45,300 shares during the last quarter. Creative Planning boosted its position in shares of Shore Bancshares by 30.6% in the 3rd quarter. Creative Planning now owns 37,674 shares of the bank’s stock worth $527,000 after purchasing an additional 8,831 shares during the last quarter. Bank of Montreal Can acquired a new stake in shares of Shore Bancshares during the second quarter worth $899,000. Finally, Vanguard Group Inc. increased its holdings in Shore Bancshares by 0.7% in the first quarter. Vanguard Group Inc. now owns 1,619,605 shares of the bank’s stock valued at $18,625,000 after purchasing an additional 11,544 shares during the last quarter. 59.76% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Keefe, Bruyette & Woods boosted 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. Janney Montgomery Scott cut shares of Shore Bancshares from a “buy” rating to a “neutral” rating in a report on Tuesday, July 30th.

Shore Bancshares Price Performance

Shares of NASDAQ SHBI opened at $16.24 on Friday. The company has a fifty day moving average price of $14.56 and a 200 day moving average price of $13.08. The firm has a market cap of $541.23 million, a PE ratio of 12.99 and a beta of 0.95. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.23. Shore Bancshares, Inc. has a 1-year low of $10.06 and a 1-year high of $16.66.

Shore Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Tuesday, November 12th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 2.96%. The ex-dividend date is Tuesday, November 12th. Shore Bancshares’s payout ratio is 38.40%.

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.