AQR Capital Management LLC Purchases Shares of 12,796 Shore Bancshares, Inc. (NASDAQ:SHBI)

AQR Capital Management LLC purchased a new stake in Shore Bancshares, Inc. (NASDAQ:SHBI) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 12,796 shares of the bank’s stock, valued at approximately $147,000.

A number of other hedge funds have also recently bought and sold shares of SHBI. Bank of Montreal Can bought a new position in shares of Shore Bancshares during the 2nd quarter worth approximately $899,000. Renaissance Technologies LLC boosted its stake in shares of Shore Bancshares by 12.4% during the 2nd quarter. Renaissance Technologies LLC now owns 411,615 shares of the bank’s stock worth $4,713,000 after acquiring an additional 45,300 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Shore Bancshares by 6.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,208,740 shares of the bank’s stock worth $13,839,000 after acquiring an additional 77,961 shares during the period. American Century Companies Inc. boosted its stake in shares of Shore Bancshares by 30.5% during the 2nd quarter. American Century Companies Inc. now owns 195,418 shares of the bank’s stock worth $2,238,000 after acquiring an additional 45,692 shares during the period. Finally, Rhumbline Advisers boosted its stake in shares of Shore Bancshares by 6.5% during the 2nd quarter. Rhumbline Advisers now owns 43,240 shares of the bank’s stock worth $495,000 after acquiring an additional 2,639 shares during the period. 59.76% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Janney Montgomery Scott downgraded Shore Bancshares from a “buy” rating to a “neutral” rating in a research note on Tuesday, July 30th. Keefe, Bruyette & Woods lifted their target price on Shore Bancshares from $13.00 to $15.00 and gave the stock a “market perform” rating in a research note on Friday, July 26th.

Shore Bancshares Stock Performance

SHBI opened at $14.54 on Friday. The business has a fifty day simple moving average of $13.81 and a 200 day simple moving average of $12.31. The company has a market capitalization of $484.47 million, a PE ratio of 20.19 and a beta of 0.96. Shore Bancshares, Inc. has a 1 year low of $9.66 and a 1 year high of $14.99. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.94 and a quick ratio of 0.93.

Shore Bancshares (NASDAQ:SHBI) last released its quarterly earnings results on Thursday, July 25th. The bank reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.06. The business had revenue of $50.66 million during the quarter. Shore Bancshares had a return on equity of 8.37% and a net margin of 7.18%. Research analysts expect that Shore Bancshares, Inc. will post 1.5 EPS for the current year.

Shore Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 12th were issued a $0.12 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $0.48 annualized dividend and a yield of 3.30%. Shore Bancshares’s dividend payout ratio is presently 66.67%.

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.