Empowered Funds LLC Sells 40,687 Shares of Shore Bancshares, Inc. (NASDAQ:SHBI)

Empowered Funds LLC lessened its stake in shares of Shore Bancshares, Inc. (NASDAQ:SHBI - Free Report) by 29.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 99,639 shares of the bank's stock after selling 40,687 shares during the quarter. Empowered Funds LLC owned 0.30% of Shore Bancshares worth $1,394,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Bank of Montreal Can acquired a new stake in shares of Shore Bancshares in the 2nd quarter valued at $899,000. Dimensional Fund Advisors LP increased its stake in shares of Shore Bancshares by 6.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,208,740 shares of the bank's stock valued at $13,839,000 after buying an additional 77,961 shares during the period. American Century Companies Inc. increased its stake in shares of Shore Bancshares by 30.5% in the 2nd quarter. American Century Companies Inc. now owns 195,418 shares of the bank's stock valued at $2,238,000 after buying an additional 45,692 shares during the period. Renaissance Technologies LLC increased its stake in shares of Shore Bancshares by 12.4% in the 2nd quarter. Renaissance Technologies LLC now owns 411,615 shares of the bank's stock valued at $4,713,000 after buying an additional 45,300 shares during the period. Finally, Curi RMB Capital LLC increased its stake in shares of Shore Bancshares by 13.8% in the 3rd quarter. Curi RMB Capital LLC now owns 175,164 shares of the bank's stock valued at $2,451,000 after buying an additional 21,191 shares during the period. Institutional investors own 59.76% of the company's stock.

Shore Bancshares Trading Up 1.9 %

Shares of Shore Bancshares stock traded up $0.31 during trading on Friday, reaching $16.48. 28,851 shares of the company were exchanged, compared to its average volume of 84,790. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.23. Shore Bancshares, Inc. has a twelve month low of $10.06 and a twelve month high of $16.66. The business has a 50-day moving average price of $14.61 and a 200-day moving average price of $13.10. The firm has a market capitalization of $549.23 million, a price-to-earnings ratio of 13.15 and a beta of 0.95.

Shore Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Tuesday, November 12th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $0.48 annualized dividend and a yield of 2.91%. Shore Bancshares's dividend payout ratio (DPR) is presently 38.40%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on SHBI shares. Janney Montgomery Scott cut Shore Bancshares from a "buy" rating to a "neutral" rating in a research note on Tuesday, July 30th. Keefe, Bruyette & Woods lifted their price objective on Shore Bancshares from $13.00 to $15.00 and gave the stock a "market perform" rating in a research note on Friday, July 26th.

Shore Bancshares Company 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.