Shore Bancshares, Inc. (NASDAQ:SHBI) Shares Sold by Creative Planning

Creative Planning decreased its holdings in Shore Bancshares, Inc. (NASDAQ:SHBI) by 7.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,843 shares of the bank’s stock after selling 2,453 shares during the quarter. Creative Planning owned about 0.09% of Shore Bancshares worth $330,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Bank of Montreal Can purchased a new stake in Shore Bancshares during the 2nd quarter worth approximately $899,000. Dimensional Fund Advisors LP grew its position in shares of Shore Bancshares by 6.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,208,740 shares of the bank’s stock valued at $13,839,000 after purchasing an additional 77,961 shares in the last quarter. American Century Companies Inc. grew its position in shares of 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 purchasing an additional 45,692 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of Shore Bancshares by 12.4% in the second quarter. Renaissance Technologies LLC now owns 411,615 shares of the bank’s stock valued at $4,713,000 after purchasing an additional 45,300 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its position in shares of Shore Bancshares by 428.0% in the first quarter. BNP Paribas Financial Markets now owns 42,829 shares of the bank’s stock valued at $493,000 after purchasing an additional 34,717 shares in the last quarter. Institutional investors and hedge funds own 59.76% of the company’s stock.

Shore Bancshares Price Performance

SHBI stock opened at $14.70 on Friday. The firm has a 50 day moving average of $13.74 and a 200-day moving average of $12.27. Shore Bancshares, Inc. has a 12-month low of $9.66 and a 12-month high of $14.99. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.29. The company has a market cap of $489.80 million, a price-to-earnings ratio of 20.42 and a beta of 0.96.

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

Shore Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 12th were issued 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 3.27%. Shore Bancshares’s payout ratio is 66.67%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SHBI. Keefe, Bruyette & Woods upped their price target on Shore Bancshares from $13.00 to $15.00 and gave the stock a “market perform” rating in a research note on Friday, July 26th. Janney Montgomery Scott cut Shore Bancshares from a “buy” rating to a “neutral” rating in a research note on Tuesday, July 30th.

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.