Millennium Management LLC lowered its holdings in Shore Bancshares, Inc. (NASDAQ:SHBI) by 57.5% in the fourth quarter, HoldingsChannel reports. The firm owned 15,099 shares of the bank’s stock after selling 20,446 shares during the quarter. Millennium Management LLC’s holdings in Shore Bancshares were worth $220,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the stock. Wells Fargo & Company MN increased its stake in Shore Bancshares by 33.1% in the third quarter. Wells Fargo & Company MN now owns 31,211 shares of the bank’s stock valued at $556,000 after acquiring an additional 7,760 shares during the last quarter. BlackRock Inc. grew its stake in shares of Shore Bancshares by 4.4% during the third quarter. BlackRock Inc. now owns 816,009 shares of the bank’s stock valued at $14,541,000 after buying an additional 34,557 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Shore Bancshares by 6.6% during the third quarter. Dimensional Fund Advisors LP now owns 423,040 shares of the bank’s stock valued at $7,538,000 after buying an additional 26,286 shares during the last quarter. Morgan Stanley grew its stake in shares of Shore Bancshares by 3.5% during the third quarter. Morgan Stanley now owns 119,338 shares of the bank’s stock valued at $2,126,000 after buying an additional 4,079 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Shore Bancshares by 1.7% during the third quarter. Vanguard Group Inc. now owns 552,734 shares of the bank’s stock valued at $9,850,000 after buying an additional 9,037 shares during the last quarter. Hedge funds and other institutional investors own 66.83% of the company’s stock.
SHBI has been the topic of a number of recent research reports. Keefe, Bruyette & Woods cut Shore Bancshares from an “outperform” rating to a “market perform” rating in a research note on Monday, February 4th. ValuEngine cut Shore Bancshares from a “hold” rating to a “sell” rating in a research note on Friday, March 22nd.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Saturday, May 18th will be paid a dividend of $0.10 per share. The ex-dividend date is Thursday, May 16th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.54%.
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About Shore Bancshares
Shore Bancshares, Inc operates as a bank holding company for the Shore United Bank that provides various commercial banking products and services to individuals, businesses, and other organizations. It offers various deposit products, including checking, savings, and money market accounts; and regular and IRA certificates of deposit, as well as CDARS programs and cash management services.
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