American International Group Inc. Boosts Stake in Shore Bancshares Inc (NASDAQ:SHBI)

American International Group Inc. boosted its stake in Shore Bancshares Inc (NASDAQ:SHBI) by 7.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,724 shares of the bank’s stock after buying an additional 513 shares during the period. American International Group Inc. owned 0.06% of Shore Bancshares worth $129,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bank of New York Mellon Corp boosted its stake in Shore Bancshares by 1.3% in the first quarter. Bank of New York Mellon Corp now owns 73,484 shares of the bank’s stock worth $1,228,000 after buying an additional 973 shares during the period. Teachers Advisors LLC boosted its stake in Shore Bancshares by 11.4% in the fourth quarter. Teachers Advisors LLC now owns 15,531 shares of the bank’s stock worth $237,000 after buying an additional 1,585 shares during the period. Context BH Capital Management LP boosted its stake in Shore Bancshares by 1.5% in the first quarter. Context BH Capital Management LP now owns 131,512 shares of the bank’s stock worth $2,198,000 after buying an additional 1,973 shares during the period. First Quadrant L P CA boosted its stake in Shore Bancshares by 58.6% in the first quarter. First Quadrant L P CA now owns 6,575 shares of the bank’s stock worth $110,000 after buying an additional 2,430 shares during the period. Finally, Nationwide Fund Advisors boosted its stake in Shore Bancshares by 42.1% in the first quarter. Nationwide Fund Advisors now owns 18,796 shares of the bank’s stock worth $314,000 after buying an additional 5,573 shares during the period. 68.79% of the stock is currently owned by institutional investors and hedge funds.

Shares of Shore Bancshares Inc (NASDAQ SHBI) opened at 16.09 on Friday. The firm has a market capitalization of $204.12 million, a PE ratio of 20.26 and a beta of 0.21. The firm’s 50-day moving average is $16.72 and its 200 day moving average is $16.68. Shore Bancshares Inc has a 52 week low of $11.42 and a 52 week high of $17.92.

Shore Bancshares (NASDAQ:SHBI) last released its quarterly earnings results on Thursday, July 20th. The bank reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by $0.01. Shore Bancshares had a return on equity of 6.65% and a net margin of 16.85%. The company had revenue of $15.08 million for the quarter. On average, equities analysts forecast that Shore Bancshares Inc will post $0.93 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Monday, August 14th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, August 10th. This represents a $0.20 annualized dividend and a yield of 1.24%. Shore Bancshares’s payout ratio is 25.00%.

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About Shore Bancshares

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.

Institutional Ownership by Quarter for Shore Bancshares (NASDAQ:SHBI)

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