LSV Asset Management increased its stake in Shore Bancshares Inc (NASDAQ:SHBI) by 134.4% during the 1st quarter, Holdings Channel reports. The firm owned 157,489 shares of the bank’s stock after acquiring an additional 90,289 shares during the period. LSV Asset Management’s holdings in Shore Bancshares were worth $2,970,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in SHBI. MML Investors Services LLC bought a new stake in Shore Bancshares during the 4th quarter valued at $195,000. Mackay Shields LLC bought a new stake in Shore Bancshares during the 1st quarter valued at $275,000. Allianz Asset Management GmbH bought a new stake in Shore Bancshares during the 4th quarter valued at $278,000. Stone Ridge Asset Management LLC bought a new stake in Shore Bancshares during the 4th quarter valued at $289,000. Finally, First Quadrant L P CA raised its stake in Shore Bancshares by 171.3% during the 4th quarter. First Quadrant L P CA now owns 22,062 shares of the bank’s stock valued at $368,000 after acquiring an additional 13,929 shares in the last quarter. 67.95% of the stock is currently owned by institutional investors and hedge funds.
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Shares of Shore Bancshares opened at $18.80 on Tuesday, Marketbeat reports. The firm has a market cap of $236.63 million, a price-to-earnings ratio of 17.36 and a beta of 0.24. Shore Bancshares Inc has a 1-year low of $15.17 and a 1-year high of $20.09.
Shore Bancshares (NASDAQ:SHBI) last announced its earnings results on Thursday, April 19th. The bank reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.02). The business had revenue of $17.26 million for the quarter. Shore Bancshares had a net margin of 18.32% and a return on equity of 8.39%.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 31st. Shareholders of record on Tuesday, May 15th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, May 14th. This represents a $0.32 annualized dividend and a yield of 1.70%. This is an increase from Shore Bancshares’s previous quarterly dividend of $0.07.
About Shore Bancshares
Shore Bancshares, Inc operates as a bank holding company for the Shore United Bank that provides various commercial banking products and services to individuals, businesses, and other organizations. The company operates through two segments, Community Banking, and Insurance Products and Services. It offers various deposit products, including checking, savings, and money market accounts; and regular and IRA certificates of deposit, as well as CDARS programs and cash management services.
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