Separately, Zacks Investment Research lowered Shore Bancshares from a “hold” rating to a “sell” rating in a research note on Wednesday, March 18th.
NASDAQ:SHBI traded up $0.47 during trading hours on Thursday, hitting $9.06. 55,500 shares of the company’s stock traded hands, compared to its average volume of 23,305. The firm has a market cap of $107.54 million, a P/E ratio of 7.80 and a beta of 0.93. Shore Bancshares has a 52 week low of $7.63 and a 52 week high of $17.90. The business’s fifty day simple moving average is $13.13 and its two-hundred day simple moving average is $15.54. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.10.
A number of hedge funds have recently modified their holdings of SHBI. Russell Investments Group Ltd. bought a new stake in Shore Bancshares during the third quarter worth about $147,000. State Street Corp lifted its stake in Shore Bancshares by 2.2% during the third quarter. State Street Corp now owns 286,125 shares of the bank’s stock worth $4,409,000 after purchasing an additional 6,139 shares during the last quarter. California Public Employees Retirement System lifted its stake in Shore Bancshares by 3.0% during the fourth quarter. California Public Employees Retirement System now owns 27,820 shares of the bank’s stock worth $483,000 after purchasing an additional 800 shares during the last quarter. Bessemer Group Inc. lifted its stake in Shore Bancshares by 8.1% during the fourth quarter. Bessemer Group Inc. now owns 20,000 shares of the bank’s stock worth $347,000 after purchasing an additional 1,500 shares during the last quarter. Finally, Royce & Associates LP bought a new stake in Shore Bancshares during the fourth quarter worth about $34,000. 70.21% of the stock is owned by hedge funds and other institutional investors.
Shore Bancshares Company Profile
Shore Bancshares, Inc operates as a bank holding company for the Shore United Bank that provides various commercial banking products and services to individuals, businesses, and other organizations. It offers various deposit products, including checking, savings, and money market accounts; and regular and IRA certificates of deposit, as well as CDARS programs and cash management services.
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