Shore Bancshares, Inc. (NASDAQ:SHBI) Director Konrad Wayson Purchases 3,000 Shares

Shore Bancshares, Inc. (NASDAQ:SHBI) Director Konrad Wayson purchased 3,000 shares of Shore Bancshares stock in a transaction dated Monday, November 25th. The shares were bought at an average price of $16.94 per share, with a total value of $50,820.00. Following the completion of the acquisition, the director now directly owns 53,266 shares of the company’s stock, valued at approximately $902,326.04. This represents a 5.97 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Shore Bancshares Stock Performance

SHBI stock opened at $16.63 on Tuesday. The stock’s 50 day simple moving average is $14.66 and its 200 day simple moving average is $13.16. 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 12-month low of $10.06 and a 12-month high of $17.03. The stock has a market capitalization of $554.28 million, a PE ratio of 13.30 and a beta of 0.95.

Shore Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Tuesday, November 12th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $0.48 annualized dividend and a dividend yield of 2.89%. Shore Bancshares’s dividend payout ratio (DPR) is presently 38.40%.

Wall Street Analysts Forecast Growth

Separately, Janney Montgomery Scott lowered shares of Shore Bancshares from a “buy” rating to a “neutral” rating in a research note on Tuesday, July 30th.

Institutional Investors Weigh In On Shore Bancshares

Large investors have recently bought and sold shares of the business. AQR Capital Management LLC bought a new stake in shares of Shore Bancshares in the second quarter worth approximately $147,000. SG Americas Securities LLC bought a new stake in Shore Bancshares in the 3rd quarter worth approximately $156,000. Quadrature Capital Ltd bought a new stake in Shore Bancshares in the 1st quarter worth approximately $200,000. Rhumbline Advisers raised its stake in Shore Bancshares by 6.5% during the 2nd quarter. Rhumbline Advisers now owns 43,240 shares of the bank’s stock valued at $495,000 after buying an additional 2,639 shares during the last quarter. Finally, Creative Planning lifted its holdings in shares of Shore Bancshares by 30.6% during the 3rd quarter. Creative Planning now owns 37,674 shares of the bank’s stock valued at $527,000 after buying an additional 8,831 shares during the period. 59.76% of the stock is currently owned by institutional investors.

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.