PNC Financial Services Group Inc. held its stake in shares of Shore Bancshares Inc (NASDAQ:SHBI) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 139,438 shares of the bank’s stock at the close of the 2nd quarter. PNC Financial Services Group Inc. owned about 1.10% of Shore Bancshares worth $2,294,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Wellington Management Group LLP grew its stake in shares of Shore Bancshares by 38.4% during the first 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 during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Shore Bancshares by 183.3% during the first quarter. JPMorgan Chase & Co. now owns 79,206 shares of the bank’s stock valued at $1,324,000 after acquiring an additional 51,248 shares in the last quarter. Oxford Asset Management acquired a new position in shares of Shore Bancshares during the first quarter valued at about $779,000. Municipal Employees Retirement System of Michigan acquired a new position in shares of Shore Bancshares during the second quarter valued at about $686,000. Finally, Dupont Capital Management Corp purchased a new position in shares of Shore Bancshares in the 2nd quarter valued at approximately $513,000. 67.95% of the stock is owned by institutional investors and hedge funds.

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Shore Bancshares Inc (NASDAQ:SHBI) opened at 16.65 on Monday. The company has a 50 day moving average of $16.53 and a 200 day moving average of $16.58. The stock has a market capitalization of $211.22 million, a price-to-earnings ratio of 20.97 and a beta of 0.19. Shore Bancshares Inc has a 12 month low of $11.49 and a 12 month high of $17.92.

Shore Bancshares (NASDAQ:SHBI) last posted its quarterly earnings data on Thursday, July 20th. The bank reported $0.21 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.01). The firm had revenue of $15.08 million during the quarter. Shore Bancshares had a net margin of 16.85% and a return on equity of 6.65%. On average, equities analysts predict that Shore Bancshares Inc will post $0.95 EPS for the current year.

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.

Institutional Ownership by Quarter for Shore Bancshares (NASDAQ:SHBI)

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