Shore Bancshares, Inc. (NASDAQ:SHBI) Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. lifted its holdings in shares of Shore Bancshares, Inc. (NASDAQ:SHBI) by 61.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 21,078 shares of the bank’s stock after acquiring an additional 7,994 shares during the period. JPMorgan Chase & Co. owned 0.06% of Shore Bancshares worth $295,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in SHBI. Fourthstone LLC increased its stake in Shore Bancshares by 1.7% in the third quarter. Fourthstone LLC now owns 3,329,922 shares of the bank’s stock valued at $46,586,000 after purchasing an additional 54,679 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Shore Bancshares by 6.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,208,740 shares of the bank’s stock worth $13,839,000 after acquiring an additional 77,961 shares in the last quarter. Geode Capital Management LLC lifted its position in Shore Bancshares by 1.9% in the third quarter. Geode Capital Management LLC now owns 712,895 shares of the bank’s stock valued at $9,976,000 after acquiring an additional 13,445 shares during the last quarter. State Street Corp boosted its stake in Shore Bancshares by 8.5% in the third quarter. State Street Corp now owns 537,140 shares of the bank’s stock valued at $7,515,000 after acquiring an additional 41,971 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC grew its holdings in shares of Shore Bancshares by 1.0% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 269,375 shares of the bank’s stock worth $3,769,000 after purchasing an additional 2,700 shares during the last quarter. Institutional investors and hedge funds own 59.76% of the company’s stock.

Insider Buying and Selling at Shore Bancshares

In other Shore Bancshares news, Director Konrad Wayson bought 3,000 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was acquired at an average cost of $16.94 per share, with a total value of $50,820.00. Following the purchase, the director now owns 53,266 shares in the company, valued at approximately $902,326.04. This represents a 5.97 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 8.57% of the company’s stock.

Shore Bancshares Stock Up 0.4 %

Shares of NASDAQ:SHBI opened at $15.79 on Friday. Shore Bancshares, Inc. has a 1-year low of $10.06 and a 1-year high of $17.61. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.94 and a quick ratio of 0.93. The stock has a market cap of $526.28 million, a P/E ratio of 12.63 and a beta of 0.97. The firm has a fifty day moving average price of $16.07 and a 200 day moving average price of $14.82.

Shore Bancshares (NASDAQ:SHBI) last released its quarterly earnings results on Thursday, January 30th. The bank reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.09. Shore Bancshares had a return on equity of 10.11% and a net margin of 12.85%. Sell-side analysts predict that Shore Bancshares, Inc. will post 1.54 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods raised Shore Bancshares from a “market perform” rating to an “outperform” rating and upped their target price for the company from $16.00 to $20.00 in a research report on Wednesday, December 4th.

Shore Bancshares Company Profile

Shore Bancshares, Inc operates as a bank holding company for the Shore United Bank, N.A. that provides various commercial and consumer banking products and services to individuals, businesses, and other organizations. It offers checking, savings, overnight investment sweep, and money market accounts; and regular and IRA certificates of deposit, as well as CDARS programs and cash management services.