Shore Bancshares, Inc. (SHBI) Stake Lowered by JPMorgan Chase & Co.
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.
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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.
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