Shore Bancshares Inc. (SHBI) Stake Held by Brown Advisory Inc.
Brown Advisory Inc. maintained its position in shares of Shore Bancshares Inc. (NASDAQ:SHBI) during the second quarter, Holdings Channel reports. The firm owned 212,276 shares of the company’s stock at the end of the second quarter. Brown Advisory Inc. owned 1.68% of Shore Bancshares worth $2,494,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Nationwide Fund Advisors bought a new position in shares of Shore Bancshares during the second quarter worth approximately $143,000. California State Teachers Retirement System bought a new position in shares of Shore Bancshares during the second quarter worth approximately $309,000. Strs Ohio bought a new position in shares of Shore Bancshares during the second quarter worth approximately $320,000. BlackRock Fund Advisors raised its position in shares of Shore Bancshares by 1.5% in the first quarter. BlackRock Fund Advisors now owns 31,590 shares of the company’s stock worth $378,000 after buying an additional 462 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of Shore Bancshares by 143.8% in the second quarter. Bank of New York Mellon Corp now owns 39,193 shares of the company’s stock worth $460,000 after buying an additional 23,120 shares during the period. Institutional investors and hedge funds own 60.51% of the company’s stock.
Shore Bancshares Inc. (NASDAQ:SHBI) traded down 0.17% during mid-day trading on Friday, reaching $11.93. 1,480 shares of the company’s stock were exchanged. Shore Bancshares Inc. has a 52-week low of $9.30 and a 52-week high of $12.59. The stock has a market cap of $151.06 million, a price-to-earnings ratio of 17.29 and a beta of 0.76. The company has a 50-day moving average of $11.71 and a 200-day moving average of $11.69.
Shore Bancshares (NASDAQ:SHBI) last released its quarterly earnings data on Thursday, July 21st. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. Shore Bancshares had a net margin of 15.74% and a return on equity of 5.92%. Equities research analysts anticipate that Shore Bancshares Inc. will post $0.73 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 31st. Shareholders of record on Monday, August 15th were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date of this dividend was Thursday, August 11th. Shore Bancshares’s dividend payout ratio (DPR) is 17.39%.
Separately, Zacks Investment Research lowered shares of Shore Bancshares from a “buy” rating to a “hold” rating in a research note on Thursday, June 23rd.
Shore Bancshares Company Profile
Shore Bancshares, Inc is a financial holding company. The Company acts as the parent company to several financial institution and insurance entities. The Company has two business segments: Community Banking, and Insurance Products and Services. Its Community Banking segment provides services to consumers and small businesses on the Eastern Shore of Maryland and in Delaware.
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