BNP Paribas Arbitrage SA Raises Position in Shore Bancshares, Inc. (NASDAQ:SHBI)

BNP Paribas Arbitrage SA increased its stake in shares of Shore Bancshares, Inc. (NASDAQ:SHBI) by 511.6% in the first quarter, Holdings Channel reports. The fund owned 2,636 shares of the bank’s stock after purchasing an additional 2,205 shares during the period. BNP Paribas Arbitrage SA’s holdings in Shore Bancshares were worth $39,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of SHBI. MML Investors Services LLC purchased a new stake in shares of Shore Bancshares during the fourth quarter worth $173,000. Bank of America Corp DE grew its holdings in shares of Shore Bancshares by 124.9% during the fourth quarter. Bank of America Corp DE now owns 13,172 shares of the bank’s stock worth $192,000 after buying an additional 7,315 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of Shore Bancshares by 44.4% during the fourth quarter. Rhumbline Advisers now owns 17,755 shares of the bank’s stock worth $258,000 after buying an additional 5,457 shares in the last quarter. Strs Ohio grew its holdings in shares of Shore Bancshares by 6.1% during the first quarter. Strs Ohio now owns 36,800 shares of the bank’s stock worth $548,000 after buying an additional 2,100 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan purchased a new stake in shares of Shore Bancshares during the fourth quarter worth $563,000. Hedge funds and other institutional investors own 65.00% of the company’s stock.

Shore Bancshares stock opened at $15.52 on Wednesday. Shore Bancshares, Inc. has a 52-week low of $12.95 and a 52-week high of $20.08. The firm has a market cap of $199.87 million, a PE ratio of 8.06 and a beta of 0.50. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.10.

Shore Bancshares (NASDAQ:SHBI) last announced its quarterly earnings results on Thursday, April 25th. The bank reported $0.30 earnings per share for the quarter. The firm had revenue of $14.58 million for the quarter. Shore Bancshares had a net margin of 28.78% and a return on equity of 13.96%.

The company also recently declared a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Saturday, May 18th were given a dividend of $0.10 per share. The ex-dividend date was Thursday, May 16th. This represents a $0.40 annualized dividend and a dividend yield of 2.58%.

Separately, ValuEngine lowered shares of Shore Bancshares from a “hold” rating to a “sell” rating in a report on Friday, March 22nd.

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About Shore Bancshares

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

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