Shore Bancshares, Inc. (NASDAQ:SHBI) Shares Acquired by American Century Companies Inc.

American Century Companies Inc. lifted its stake in shares of Shore Bancshares, Inc. (NASDAQ:SHBI - Free Report) by 45.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 469,182 shares of the bank's stock after purchasing an additional 147,148 shares during the period. American Century Companies Inc. owned about 1.41% of Shore Bancshares worth $7,437,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Janney Montgomery Scott LLC raised its holdings in shares of Shore Bancshares by 10.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 21,741 shares of the bank's stock worth $345,000 after purchasing an additional 1,984 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Shore Bancshares by 2.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 86,435 shares of the bank's stock worth $1,209,000 after acquiring an additional 2,231 shares during the period. Hotchkis & Wiley Capital Management LLC lifted its holdings in Shore Bancshares by 1.0% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 269,375 shares of the bank's stock worth $3,769,000 after acquiring an additional 2,700 shares during the last quarter. SG Americas Securities LLC boosted its stake in Shore Bancshares by 24.5% in the fourth quarter. SG Americas Securities LLC now owns 13,871 shares of the bank's stock valued at $220,000 after acquiring an additional 2,734 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in shares of Shore Bancshares by 61.1% during the third quarter. JPMorgan Chase & Co. now owns 21,078 shares of the bank's stock valued at $295,000 after purchasing an additional 7,994 shares during the last quarter. 59.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler assumed coverage on Shore Bancshares in a report on Thursday, February 6th. They issued an "overweight" rating and a $20.00 price target on the stock.

Shore Bancshares Stock Performance

NASDAQ:SHBI traded down $0.07 during mid-day trading on Tuesday, hitting $11.90. The stock had a trading volume of 234,998 shares, compared to its average volume of 117,967. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.23. The company has a 50 day simple moving average of $14.60 and a 200-day simple moving average of $15.12. The stock has a market capitalization of $396.89 million, a price-to-earnings ratio of 8.95 and a beta of 0.86. Shore Bancshares, Inc. has a 52 week low of $10.06 and a 52 week high of $17.61.

Shore Bancshares (NASDAQ:SHBI - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The bank reported $0.44 earnings per share for the quarter, beating analysts' consensus estimates of $0.35 by $0.09. Shore Bancshares had a return on equity of 10.40% and a net margin of 13.44%. On average, research analysts expect that Shore Bancshares, Inc. will post 1.59 earnings per share for the current fiscal year.

Shore Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 27th. Investors of record on Thursday, February 13th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.03%. The ex-dividend date of this dividend was Thursday, February 13th. Shore Bancshares's dividend payout ratio is currently 36.09%.

About Shore Bancshares

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.