JPMorgan Chase & Co. lessened its position in Shore Bancshares, Inc. (NASDAQ:SHBI) by 5.4% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 94,909 shares of the bank’s stock after selling 5,381 shares during the period. JPMorgan Chase & Co. owned approximately 0.75% of Shore Bancshares worth $1,572,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in SHBI. Schwab Charles Investment Management Inc. lifted its stake in shares of Shore Bancshares by 113.4% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 42,573 shares of the bank’s stock worth $701,000 after acquiring an additional 22,623 shares during the period. First Trust Advisors LP lifted its stake in shares of Shore Bancshares by 187.6% in the 2nd quarter. First Trust Advisors LP now owns 29,980 shares of the bank’s stock worth $493,000 after acquiring an additional 19,556 shares during the period. Rhumbline Advisers lifted its stake in shares of Shore Bancshares by 29.5% in the 2nd quarter. Rhumbline Advisers now owns 13,544 shares of the bank’s stock worth $223,000 after acquiring an additional 3,085 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Shore Bancshares by 14.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 83,799 shares of the bank’s stock worth $1,378,000 after acquiring an additional 10,315 shares during the period. Finally, LSV Asset Management lifted its stake in shares of Shore Bancshares by 63.5% in the 2nd quarter. LSV Asset Management now owns 62,600 shares of the bank’s stock worth $1,029,000 after acquiring an additional 24,304 shares during the period. Institutional investors own 68.47% of the company’s stock.

Shares of Shore Bancshares, Inc. (NASDAQ:SHBI) opened at $17.73 on Wednesday. Shore Bancshares, Inc. has a 52 week low of $14.94 and a 52 week high of $18.49. The company has a market cap of $223.06, a price-to-earnings ratio of 20.15 and a beta of 0.14.

Shore Bancshares (NASDAQ:SHBI) last released its earnings results on Thursday, October 19th. The bank reported $0.27 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.02. The company had revenue of $16.75 million during the quarter. Shore Bancshares had a net margin of 17.61% and a return on equity of 7.20%.

COPYRIGHT VIOLATION WARNING: This news story was originally published by Watch List News and is owned by of Watch List News. If you are viewing this news story on another website, it was illegally stolen and republished in violation of United States & international trademark and copyright law. The legal version of this news story can be viewed at https://www.watchlistnews.com/shore-bancshares-inc-shbi-stake-lowered-by-jpmorgan-chase-co/1800756.html.

Shore Bancshares Profile

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.

Want to see what other hedge funds are holding SHBI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Shore Bancshares, Inc. (NASDAQ:SHBI).

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

Receive News & Ratings for Shore Bancshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shore Bancshares and related companies with MarketBeat.com's FREE daily email newsletter.