Konrad Wayson Purchases 3,000 Shares of Shore Bancshares, Inc. (NASDAQ:SHBI) Stock

Shore Bancshares, Inc. (NASDAQ:SHBI) Director Konrad Wayson acquired 3,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was bought at an average price of $16.94 per share, with a total value of $50,820.00. Following the purchase, the director now directly owns 53,266 shares in the company, valued at approximately $902,326.04. This trade represents a 5.97 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Shore Bancshares Stock Up 0.5 %

Shares of NASDAQ:SHBI traded up $0.08 on Monday, hitting $16.63. 103,435 shares of the company’s stock were exchanged, compared to its average volume of 85,110. Shore Bancshares, Inc. has a 1-year low of $10.06 and a 1-year high of $17.03. The company has a market capitalization of $554.28 million, a PE ratio of 13.30 and a beta of 0.95. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.93 and a current ratio of 0.94. The firm’s 50-day moving average is $14.66 and its 200 day moving average is $13.16.

Shore Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Tuesday, November 12th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date is Tuesday, November 12th. Shore Bancshares’s dividend payout ratio (DPR) is 38.40%.

Institutional Trading of Shore Bancshares

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SHBI. SG Americas Securities LLC acquired a new position in shares of Shore Bancshares in the 3rd quarter valued at $156,000. AQR Capital Management LLC purchased a new stake in Shore Bancshares in the second quarter valued at $147,000. Quadrature Capital Ltd acquired a new position in Shore Bancshares in the first quarter valued at $200,000. Creative Planning grew its holdings in shares of Shore Bancshares by 30.6% during the third quarter. Creative Planning now owns 37,674 shares of the bank’s stock worth $527,000 after purchasing an additional 8,831 shares during the last quarter. Finally, Rhumbline Advisers increased its position in shares of Shore Bancshares by 6.5% during the second quarter. Rhumbline Advisers now owns 43,240 shares of the bank’s stock worth $495,000 after purchasing an additional 2,639 shares in the last quarter. Institutional investors and hedge funds own 59.76% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Janney Montgomery Scott downgraded shares of Shore Bancshares from a “buy” rating to a “neutral” rating in a research note on Tuesday, July 30th.

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.