FJ Capital Mgmt. Amends SHBI Stake, Part of Investor Group

TL;DR

**FJ Capital Management LLC and its group are still in SHBI, watch for their next move.**

AI Summary

FJ Capital Management LLC, a Delaware-based investment firm, filed an amended SC 13G/A on February 8, 2024, indicating a change in their beneficial ownership of Shore Bancshares, Inc. (SHBI) common stock as of December 31, 2023. This filing, an amendment to a previous disclosure, shows that FJ Capital Management LLC is part of a group of investors, including BRIDGE EQUITIES III LLC and SUNBRIDGE HOLDINGS LLC, that collectively holds a significant stake in SHBI. This matters to investors because it signals that a notable institutional investor group continues to have an interest in SHBI, potentially influencing its stock performance or future strategic decisions.

Why It Matters

This filing shows that a significant institutional investor group, including FJ Capital Management LLC, maintains a position in Shore Bancshares, Inc., which can be seen as a vote of confidence or a potential catalyst for future corporate actions.

Risk Assessment

Risk Level: low — This filing is an amendment to a previous disclosure, indicating a routine update rather than a new, unexpected event.

Analyst Insight

Investors should note that FJ Capital Management LLC and its associated group continue to hold a position in SHBI. While this filing doesn't disclose specific share counts or percentages, it confirms ongoing institutional interest. Smart investors might monitor future filings from this group for changes in their stake, which could signal a shift in their outlook on SHBI.

Key Players & Entities

• FJ Capital Management LLC (company) — the reporting person filing the SC 13G/A
• Shore Bancshares, Inc. (company) — the subject company whose stock is being reported
• BRIDGE EQUITIES III LLC (company) — a member of the reporting group
• SUNBRIDGE HOLDINGS LLC (company) — a member of the reporting group
• Martin S. Friedman (person) — a member of the reporting group
• Delaware (company) — place of organization for FJ Capital Management LLC
• December 31, 2023 (date) — date of the event requiring the filing

FAQ

Filing Documents

• eps11128_shbi.htm (SC 13G/A) — 169KB
• 0001171520-24-000098.txt ( ) — 170KB

(a)

Item 1(a). Name of Issuer: Shore Bancshares, Inc. (SHBI)

(b)

Item 1(b). Address of Issuer’s Principal Executive Offices: 28969 Information Lane Easton, MD 21601

(a)

Item 2(a). Name of Person Filing: This Schedule 13G is being filed on behalf of the following Reporting Persons: Bridge Equities III, LLC Bridge Equities XI, LLC FJ Capital Management LLC Martin Friedman SunBridge Manager, LLC SunBridge Holdings, LLC White Oak Enterprises, Inc.

(b)

Item 2(b). Address of Principal Business Office or, if None, Residence: FJ Capital Management, LLC 1313 Dolley Madison Blvd, Ste 306 McLean, VA 22101 Martin Friedman 1313 Dolley Madison Blvd., Ste 306 McLean, VA 22101 Bridge Equities III, LLC 8171 Maple Lawn Blvd, Suite 375 Fulton, MD 20759 Bridge Equities XI, LLC 8171 Maple Lawn Blvd, Suite 375 Fulton, MD 20759 SunBridge Manager, LLC 8171 Maple Lawn Blvd, Suite 375 Fulton, MD 20759 SunBridge Holdings, LLC 8171 Maple Lawn Blvd, Suite 375 Fulton, MD 20759 White Oak Enterprises, Inc. 8171 Maple Lawn Blvd, Suite 375 Fulton, MD 20759 CUSIP No. 825107105 Page 10 of 15

(c)

Item 2(c). Citizenship: Bridge Equities III, LLC, Bridge Equities XI, LLC, and FJ Capital Management LLC, SunBridge Manager, LLC, SunBridge Holdings, LLC – Delaware limited liability companies Martin Friedman – United States citizen White Oak Enterprises, Inc. – Maryland corporation

(d)

Item 2(d). Title of Class of Securities: Common Stock

(e)

Item 2(e). CUSIP Number: 825107105 Item 3. If This Statement is Filed Pursuant to §§240.13d-1(b), or 240.13d-2(b) or (c), Check Whether the Person Filing is a: (a) Broker or dealer registered under Section 15 of the Act (15 U.S.C. 78o). (b) Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c). (c) Insurance company as defined in Section 3(a)(19) of the Act (15 U.S.C. 78c). (d) Investment company registered under Section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8). (e) An investment adviser in accordance with §240.13d-1(b)(1)(ii)(E); (f) An employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F); (g) A parent holding company or control person in accordance with §240.13d-1(b)(ii)(G); (h) A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act (15 U.S.C. 80a-3); (j) Group, in accordance with §240.13d-1(b)(1)(ii)(J). CUSIP No. 825107105 Page 11 of 15 Item 4. Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. (a) Amount beneficially owned: FJ Capital Management LLC – 152,641 shares Martin Friedman – 152,641 shares Bridge Equities III, LLC – 138,042 shares Bridge Equities XI, LLC – 14,599 shares SunBridge Manager, LLC – 152,641shares SunBridge Holdings, LLC - 152,641shares White Oak Enterprises, Inc. – 152,641 shares (b) Percent of class: FJ Capital Management LLC – 0.46% Martin Friedman – 0.46% Bridge Equities III, LLC – 0.42% Bridge Equities XI, LLC – 0.04% SunBridge Manager, LLC – 0.46% SunBridge Holdings, LLC – 0.46% White Oak Enterprises, Inc. – 0.46% (c)

View Full Filing

View this SC 13G/A filing on SEC EDGAR