Banc Funds Co. LLC Trims Position in Shore Bancshares, Inc. (NASDAQ:SHBI)

Banc Funds Co. LLC lowered its position in shares of Shore Bancshares, Inc. (NASDAQ:SHBI) by 8.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund 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 and other institutional investors have also recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Shore Bancshares during the 3rd quarter worth $763,000. American Century Companies Inc. lifted its position in Shore Bancshares by 30.5% during the second quarter. American Century Companies Inc. now owns 195,418 shares of the bank’s stock worth $2,238,000 after buying an additional 45,692 shares during the period. Renaissance Technologies LLC boosted its stake in Shore Bancshares by 12.4% in the 2nd quarter. Renaissance Technologies LLC now owns 411,615 shares of the bank’s stock worth $4,713,000 after buying an additional 45,300 shares during the last quarter. Creative Planning grew its holdings in Shore Bancshares by 30.6% in the 3rd quarter. Creative Planning now owns 37,674 shares of the bank’s stock valued at $527,000 after buying an additional 8,831 shares during the period. Finally, Bank of Montreal Can purchased a new stake in Shore Bancshares in the 2nd quarter valued at about $899,000. 59.76% of the stock is owned by hedge funds and other institutional investors.

Shore Bancshares Trading Up 0.1 %

Shares of SHBI stock opened at $16.45 on Monday. The firm’s 50-day simple moving average is $14.88 and its 200-day simple moving average is $13.35. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.94 and a quick ratio of 0.93. Shore Bancshares, Inc. has a 1-year low of $10.06 and a 1-year high of $17.03. The firm has a market cap of $548.28 million, a P/E ratio of 13.16 and a beta of 0.95.

Shore Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Tuesday, November 12th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date of this dividend was Tuesday, November 12th. Shore Bancshares’s dividend payout ratio is currently 38.40%.

Insider Buying and Selling at Shore Bancshares

In other news, Director Konrad Wayson purchased 3,000 shares of the company’s stock in a transaction on Monday, November 25th. The stock was bought at an average cost of $16.94 per share, for a total transaction of $50,820.00. Following the completion of the purchase, the director now directly owns 53,266 shares of the company’s stock, valued at $902,326.04. The trade was a 5.97 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 8.57% of the stock is owned by company insiders.

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.