California State Teachers Retirement System purchased a new position in shares of Shore Bancshares Inc. (NASDAQ:SHBI) during the second quarter, Holdings Channel reports. The fund purchased 26,294 shares of the company’s stock, valued at approximately $309,000. California State Teachers Retirement System owned approximately 0.21% of Shore Bancshares as of its most recent SEC filing.
Separately, Bank of New York Mellon Corp boosted its stake in shares of Shore Bancshares by 143.8% in the second quarter. Bank of New York Mellon Corp now owns 39,193 shares of the company’s stock valued at $460,000 after buying an additional 23,120 shares during the period. 60.51% of the stock is owned by hedge funds and other institutional investors.
Shares of Shore Bancshares Inc. (NASDAQ:SHBI) traded up 0.0214% during midday trading on Monday, hitting $11.6625. The stock had a trading volume of 629 shares. The firm has a 50 day moving average price of $11.74 and a 200-day moving average price of $11.68. Shore Bancshares Inc. has a 52-week low of $9.41 and a 52-week high of $12.59. The stock has a market cap of $147.67 million, a PE ratio of 16.9022 and a beta of 0.52.
Shore Bancshares (NASDAQ:SHBI) last released its earnings results on Thursday, July 21st. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.01. Shore Bancshares had a return on equity of 5.92% and a net margin of 15.74%. Equities analysts predict that Shore Bancshares Inc. will post $0.73 EPS for the current fiscal year.
Separately, Zacks Investment Research cut Shore Bancshares from a “buy” rating to a “hold” rating in a report on Thursday, June 23rd.
Shore Bancshares Company 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.