Shore Bancshares Inc (SHBI) Stake Increased by JPMorgan Chase & Co.
JPMorgan Chase & Co. lifted its position in Shore Bancshares Inc (NASDAQ:SHBI) by 26.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 100,290 shares of the bank’s stock after acquiring an additional 21,084 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.79% of Shore Bancshares worth $1,650,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP grew its stake in shares of Shore Bancshares by 38.4% in the 1st quarter. Wellington Management Group LLP now owns 1,233,265 shares of the bank’s stock worth $20,608,000 after acquiring an additional 342,468 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Shore Bancshares by 3.3% in the 1st quarter. Vanguard Group Inc. now owns 458,457 shares of the bank’s stock worth $7,661,000 after acquiring an additional 14,853 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of Shore Bancshares by 9.8% in the 1st quarter. Renaissance Technologies LLC now owns 295,100 shares of the bank’s stock worth $4,931,000 after acquiring an additional 26,400 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Shore Bancshares by 12.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 234,971 shares of the bank’s stock worth $3,926,000 after acquiring an additional 25,535 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Shore Bancshares by 14.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 83,799 shares of the bank’s stock worth $1,378,000 after acquiring an additional 10,315 shares in the last quarter. Hedge funds and other institutional investors own 67.95% of the company’s stock.
Shares of Shore Bancshares Inc (NASDAQ SHBI) opened at 17.09 on Tuesday. The stock has a 50 day moving average of $16.60 and a 200 day moving average of $16.62. Shore Bancshares Inc has a 1-year low of $11.49 and a 1-year high of $17.92. The company has a market cap of $216.80 million, a price-to-earnings ratio of 21.52 and a beta of 0.19.
Shore Bancshares (NASDAQ:SHBI) last posted 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 during the quarter. On average, equities analysts forecast that Shore Bancshares Inc will post $0.95 EPS for the current year.
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Shore Bancshares Profile
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.
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