Thrivent Financial for Lutherans Has $563,000 Position in Shore Bancshares, Inc. (NASDAQ:SHBI)

Thrivent Financial for Lutherans reduced its stake in shares of Shore Bancshares, Inc. (NASDAQ:SHBI - Free Report) by 50.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 35,571 shares of the bank's stock after selling 36,887 shares during the period. Thrivent Financial for Lutherans owned 0.11% of Shore Bancshares worth $563,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. boosted its position in Shore Bancshares by 152.4% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 137,599 shares of the bank's stock valued at $2,181,000 after purchasing an additional 83,079 shares during the last quarter. State Street Corp raised its stake in shares of Shore Bancshares by 8.5% during the 3rd quarter. State Street Corp now owns 537,140 shares of the bank's stock worth $7,515,000 after purchasing an additional 41,971 shares in the last quarter. Barclays PLC lifted its holdings in shares of Shore Bancshares by 48.2% during the 3rd quarter. Barclays PLC now owns 84,942 shares of the bank's stock valued at $1,189,000 after buying an additional 27,627 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Shore Bancshares in the 4th quarter valued at approximately $392,000. Finally, Raymond James Financial Inc. acquired a new position in Shore Bancshares in the fourth quarter worth approximately $279,000. 59.76% of the stock is owned by institutional investors and hedge funds.

Shore Bancshares Stock Down 0.6 %

Shore Bancshares stock traded down $0.07 during mid-day trading on Tuesday, hitting $11.90. 234,998 shares of the company's stock were exchanged, compared to its average volume of 117,967. Shore Bancshares, Inc. has a 1-year low of $10.06 and a 1-year high of $17.61. The stock has a 50 day moving average of $14.60 and a two-hundred day moving average of $15.12. The stock has a market cap of $396.89 million, a P/E ratio of 8.95 and a beta of 0.86. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.23.

Shore Bancshares (NASDAQ:SHBI - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The bank reported $0.44 EPS 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%. As a group, analysts anticipate that Shore Bancshares, Inc. will post 1.59 EPS for the current fiscal year.

Shore Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 27th. Stockholders of record on Thursday, February 13th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.03%. The ex-dividend date was Thursday, February 13th. Shore Bancshares's dividend payout ratio is 36.09%.

Analyst Ratings Changes

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

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.