Wells Fargo & Company MN Acquires 10,332 Shares of Shore Bancshares Inc (SHBI)

Wells Fargo & Company MN grew its holdings in Shore Bancshares Inc (NASDAQ:SHBI) by 27.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 48,211 shares of the bank’s stock after buying an additional 10,332 shares during the period. Wells Fargo & Company MN owned approximately 0.38% of Shore Bancshares worth $805,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. First Quadrant L P CA grew its stake in shares of Shore Bancshares by 171.3% in the 4th quarter. First Quadrant L P CA now owns 22,062 shares of the bank’s stock worth $368,000 after buying an additional 13,929 shares in the last quarter. Bailard Inc. purchased a new position in shares of Shore Bancshares in the 4th quarter worth $438,000. Nationwide Fund Advisors grew its stake in shares of Shore Bancshares by 111.4% in the 3rd quarter. Nationwide Fund Advisors now owns 42,696 shares of the bank’s stock worth $711,000 after buying an additional 22,500 shares in the last quarter. Schwab Charles Investment Management Inc. grew its stake in shares of Shore Bancshares by 7.9% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 45,952 shares of the bank’s stock worth $768,000 after buying an additional 3,379 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its stake in shares of Shore Bancshares by 13.0% during the 4th quarter. Acadian Asset Management LLC now owns 64,458 shares of the bank’s stock worth $1,076,000 after purchasing an additional 7,399 shares during the period. 68.43% of the stock is owned by institutional investors and hedge funds.

SHBI stock opened at $18.67 on Friday. Shore Bancshares Inc has a 12 month low of $15.17 and a 12 month high of $20.09. The stock has a market cap of $241.98, a P/E ratio of 17.76 and a beta of 0.23.

Shore Bancshares (NASDAQ:SHBI) last released its quarterly earnings results on Thursday, April 19th. The bank reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). Shore Bancshares had a return on equity of 8.43% and a net margin of 18.32%. The firm had revenue of $17.26 million for the quarter.

Shore Bancshares 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. The company operates through two segments, Community Banking, and Insurance Products and Services. 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.

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.


Leave a Reply