Banc Funds Co. LLC Has $6.46 Million Holdings in Shore Bancshares, Inc. (NASDAQ:SHBI)

Banc Funds Co. LLC lowered its stake in Shore Bancshares, Inc. (NASDAQ:SHBI - Free Report) by 8.5% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 461,954 shares of the bank's stock after selling 42,882 shares during the quarter. Banc Funds Co. LLC owned approximately 1.39% of Shore Bancshares worth $6,463,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Bank of Montreal Can purchased a new stake in Shore Bancshares during the 2nd quarter worth $899,000. Dimensional Fund Advisors LP increased its position in shares of Shore Bancshares by 6.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,208,740 shares of the bank's stock worth $13,839,000 after acquiring an additional 77,961 shares during the last quarter. Fourthstone LLC lifted its stake in shares of Shore Bancshares by 1.7% in the third quarter. Fourthstone LLC now owns 3,329,922 shares of the bank's stock worth $46,586,000 after acquiring an additional 54,679 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Shore Bancshares in the third quarter valued at about $763,000. Finally, American Century Companies Inc. grew its stake in Shore Bancshares by 30.5% during the 2nd quarter. American Century Companies Inc. now owns 195,418 shares of the bank's stock valued at $2,238,000 after purchasing an additional 45,692 shares in the last quarter. 59.76% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Shore Bancshares

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

Shore Bancshares Stock Performance

SHBI traded up $0.30 on Monday, hitting $16.75. 41,707 shares of the company's stock were exchanged, compared to its average volume of 84,824. 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 stock has a fifty day moving average of $14.88 and a two-hundred day moving average of $13.35. Shore Bancshares, Inc. has a twelve month low of $10.06 and a twelve month high of $17.03. The firm has a market cap of $558.28 million, a PE ratio of 13.16 and a beta of 0.95.

Shore Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Tuesday, November 12th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 2.87%. The ex-dividend date was Tuesday, November 12th. Shore Bancshares's dividend payout ratio is currently 38.40%.

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.