Shore Bancshares director John Lamon acquires $3,638 in stock

John Lamon, a director at Shore Bancshares Inc. (NASDAQ:SHBI), recently acquired shares in the company, according to a filing with the Securities and Exchange Commission. The regional bank, currently valued at $481 million, trades at an attractive price-to-book ratio of 0.86, suggesting potential undervaluation according to InvestingPro analysis. On May 30, Lamon purchased 250 shares of common stock at an average price of $14.5529 per share, amounting to a total transaction value of approximately $3,638. Following this acquisition, Lamon holds 62,132 shares directly. Shore Bancshares boasts an impressive 11-year streak of consistent dividend payments, currently yielding 3.31%. Discover more insights about SHBI’s financial health and growth potential with InvestingPro, which offers 12+ additional investment tips. The increase in Lamon’s holdings reflects his participation in the Shore Bancshares Dividend Reinvestment Plan.

In other recent news, Shore Bancshares announced that its subsidiary, Mid-Maryland Title, Inc., will cease operations by the end of March 2025. This decision was detailed in a report filed with the Securities and Exchange Commission (SEC). Mid-Maryland Title will continue to operate to complete any current work, ensuring all ongoing matters are resolved before the business officially dissolves. The timeline for completing the necessary regulatory steps for the closure was not specified. Shore Bancshares has not provided specific reasons for this decision in the SEC filing. The company’s primary business address is in Easton, Maryland. Investors and stakeholders can access the full details of this announcement through the SEC’s EDGAR database.

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