Shore Bancshares Inc (NASDAQ:SHBI) issued its quarterly earnings results on Thursday. The bank reported $0.21 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.22 by $0.01, Morningstar.com reports. Shore Bancshares had a return on equity of 6.45% and a net margin of 17.17%. The business had revenue of $15.08 million during the quarter.

Shares of Shore Bancshares (NASDAQ:SHBI) traded up 3.53% during midday trading on Friday, reaching $17.30. The company’s stock had a trading volume of 6,839 shares. Shore Bancshares has a 12-month low of $11.25 and a 12-month high of $17.92. The stock has a 50-day moving average of $16.72 and a 200 day moving average of $16.54. The firm has a market capitalization of $219.36 million, a P/E ratio of 21.95 and a beta of 0.20.

Hedge funds and other institutional investors have recently modified their holdings of the company. First Quadrant L P CA increased its position in shares of Shore Bancshares by 58.6% in the first quarter. First Quadrant L P CA now owns 6,575 shares of the bank’s stock worth $110,000 after buying an additional 2,430 shares during the period. American International Group Inc. increased its position in shares of Shore Bancshares by 7.1% in the first quarter. American International Group Inc. now owns 7,724 shares of the bank’s stock worth $129,000 after buying an additional 513 shares during the period. Metropolitan Life Insurance Co. NY purchased a new position in shares of Shore Bancshares during the first quarter worth $158,000. Cornerstone Capital Management Holdings LLC. purchased a new position in shares of Shore Bancshares during the first quarter worth $159,000. Finally, Teachers Advisors LLC increased its position in shares of Shore Bancshares by 11.4% in the fourth quarter. Teachers Advisors LLC now owns 15,531 shares of the bank’s stock worth $237,000 after buying an additional 1,585 shares during the period. Institutional investors and hedge funds own 68.35% of the company’s stock.

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About Shore Bancshares

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.

Earnings History for Shore Bancshares (NASDAQ:SHBI)

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