Shore Bancshares Inc (NASDAQ:SHBI) Announces Earnings Results
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.
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.
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