Arrowstreet Capital Limited Partnership Buys Shares of 93,326 Shore Bancshares, Inc. (NASDAQ:SHBI)

Arrowstreet Capital Limited Partnership acquired a new stake in shares of Shore Bancshares, Inc. (NASDAQ:SHBI - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 93,326 shares of the bank's stock, valued at approximately $1,479,000. Arrowstreet Capital Limited Partnership owned 0.28% of Shore Bancshares as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. SG Americas Securities LLC boosted its position 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 buying an additional 2,734 shares in the last quarter. LPL Financial LLC bought a new position in shares of Shore Bancshares in the fourth quarter valued at approximately $270,000. Raymond James Financial Inc. bought a new position in shares of Shore Bancshares in the fourth quarter valued at approximately $279,000. JPMorgan Chase & Co. boosted its holdings in shares of Shore Bancshares by 61.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 21,078 shares of the bank's stock worth $295,000 after acquiring an additional 7,994 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its position in Shore Bancshares by 10.0% during the 4th quarter. Janney Montgomery Scott LLC now owns 21,741 shares of the bank's stock worth $345,000 after acquiring an additional 1,984 shares during the last quarter. Institutional investors and hedge funds own 59.76% of the company's stock.

Shore Bancshares Trading Up 0.8 %

NASDAQ:SHBI traded up $0.10 on Thursday, hitting $12.45. 23,462 shares of the stock were exchanged, compared to its average volume of 120,642. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.93 and a current ratio of 0.94. Shore Bancshares, Inc. has a 52 week low of $10.06 and a 52 week high of $17.61. The stock has a market capitalization of $415.30 million, a price-to-earnings ratio of 9.38 and a beta of 0.86. The company's 50-day moving average price is $14.04 and its 200 day moving average price is $15.02.

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

Shore Bancshares Announces Dividend

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. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.85%. Shore Bancshares's dividend payout ratio (DPR) is presently 36.09%.

Analyst Ratings Changes

Separately, Piper Sandler started coverage on shares of Shore Bancshares in a research report on Thursday, February 6th. They issued an "overweight" rating and a $20.00 price objective for the company.

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.