Empowered Funds LLC Has $547,000 Position in Shore Bancshares, Inc. (NASDAQ:SHBI)

Empowered Funds LLC trimmed its position in Shore Bancshares, Inc. (NASDAQ:SHBI - Free Report) by 65.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 34,482 shares of the bank's stock after selling 65,157 shares during the quarter. Empowered Funds LLC owned 0.10% of Shore Bancshares worth $547,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in SHBI. SG Americas Securities LLC bought a new position in shares of Shore Bancshares in the 3rd quarter valued at $156,000. Creative Planning grew its position in Shore Bancshares by 30.6% in the third quarter. Creative Planning now owns 37,674 shares of the bank's stock valued at $527,000 after acquiring an additional 8,831 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in Shore Bancshares by 9.7% during the third quarter. Assenagon Asset Management S.A. now owns 48,706 shares of the bank's stock worth $681,000 after acquiring an additional 4,312 shares in the last quarter. Curi RMB Capital LLC lifted its holdings in shares of Shore Bancshares by 13.8% in the third quarter. Curi RMB Capital LLC now owns 175,164 shares of the bank's stock worth $2,451,000 after acquiring an additional 21,191 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its holdings in shares of Shore Bancshares by 53.9% in the third quarter. Thrivent Financial for Lutherans now owns 72,458 shares of the bank's stock worth $1,013,000 after acquiring an additional 25,370 shares during the last quarter. 59.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Shore Bancshares

In other news, Director Konrad Wayson purchased 3,000 shares of the company's stock in a transaction dated Monday, November 25th. The shares were purchased at an average price of $16.94 per share, for a total transaction of $50,820.00. Following the transaction, the director now owns 53,266 shares of the company's stock, valued at approximately $902,326.04. This trade represents a 5.97 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 8.57% of the stock is currently owned by company insiders.

Shore Bancshares Trading Down 3.9 %

NASDAQ:SHBI traded down $0.62 during mid-day trading on Friday, hitting $15.30. 216,730 shares of the company's stock were exchanged, compared to its average volume of 173,515. Shore Bancshares, Inc. has a fifty-two week low of $10.06 and a fifty-two week high of $17.61. 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 firm has a market capitalization of $509.95 million, a P/E ratio of 11.50 and a beta of 0.97. The company has a 50 day simple moving average of $15.88 and a 200-day simple moving average of $15.11.

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

Shore Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Thursday, February 13th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date is Thursday, February 13th. Shore Bancshares's dividend payout ratio is currently 36.09%.

Analyst Ratings Changes

SHBI has been the subject of a number of research analyst reports. Piper Sandler began coverage on shares of Shore Bancshares in a research report on Thursday, February 6th. They set an "overweight" rating and a $20.00 price objective for the company. Keefe, Bruyette & Woods upgraded shares of Shore Bancshares from a "market perform" rating to an "outperform" rating and upped their price target for the stock from $16.00 to $20.00 in a report on Wednesday, December 4th.

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.