Martingale Asset Management L P Sells 33,412 Shares of Shore Bancshares, Inc. (NASDAQ:SHBI)

Martingale Asset Management L P trimmed its position in Shore Bancshares, Inc. (NASDAQ:SHBI) by 61.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,660 shares of the bank’s stock after selling 33,412 shares during the period. Martingale Asset Management L P owned 0.06% of Shore Bancshares worth $289,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in SHBI. Vanguard Group Inc. raised its position in shares of Shore Bancshares by 0.7% in the first quarter. Vanguard Group Inc. now owns 1,619,605 shares of the bank’s stock worth $18,625,000 after buying an additional 11,544 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Shore Bancshares by 12.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 57,086 shares of the bank’s stock valued at $657,000 after acquiring an additional 6,321 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Shore Bancshares by 5.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 252,577 shares of the bank’s stock valued at $2,892,000 after acquiring an additional 13,345 shares during the last quarter. Rhumbline Advisers boosted its position in shares of 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 acquiring an additional 2,639 shares during the last quarter. Finally, American Century Companies Inc. increased 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 worth $2,238,000 after purchasing an additional 45,692 shares during the last quarter. 59.76% of the stock is currently owned by hedge funds and other institutional investors.

Shore Bancshares Trading Down 0.2 %

Shares of SHBI opened at $16.59 on Wednesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.94 and a quick ratio of 0.93. Shore Bancshares, Inc. has a 1-year low of $10.06 and a 1-year high of $17.03. The company has a market capitalization of $552.94 million, a P/E ratio of 13.27 and a beta of 0.97. The firm’s 50 day simple moving average is $14.98 and its 200 day simple moving average is $13.42.

Shore Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Tuesday, November 12th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date was Tuesday, November 12th. Shore Bancshares’s dividend payout ratio is currently 38.40%.

Insider Buying and Selling

In other news, Director Konrad Wayson purchased 3,000 shares of the company’s stock in a transaction on Monday, November 25th. The stock was purchased at an average price of $16.94 per share, with a total value of $50,820.00. Following the completion of the purchase, the director now directly owns 53,266 shares in the company, valued at approximately $902,326.04. This trade represents a 5.97 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 8.57% of the stock is owned by company insiders.

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.