Severn Bancorp, Inc. (NASDAQ:SVBI) Sees Significant Decrease in Short Interest

Severn Bancorp, Inc. (NASDAQ:SVBI) was the target of a large decrease in short interest in August. As of August 31st, there was short interest totalling 900 shares, a decrease of 75.7% from the July 31st total of 3,700 shares. Based on an average daily trading volume, of 10,900 shares, the short-interest ratio is currently 0.1 days. Approximately 0.0% of the shares of the company are sold short.

Hedge funds have recently modified their holdings of the company. Wells Fargo & Company MN raised its stake in shares of Severn Bancorp by 1,651.9% during the 2nd quarter. Wells Fargo & Company MN now owns 6,149 shares of the bank’s stock worth $54,000 after buying an additional 5,798 shares in the last quarter. Morgan Stanley raised its stake in shares of Severn Bancorp by 40.7% during the 2nd quarter. Morgan Stanley now owns 6,867 shares of the bank’s stock worth $60,000 after buying an additional 1,988 shares in the last quarter. Bay Harbor Wealth Management LLC purchased a new position in shares of Severn Bancorp during the 2nd quarter worth approximately $76,000. BlackRock Inc. raised its stake in shares of Severn Bancorp by 16.9% during the 2nd quarter. BlackRock Inc. now owns 37,858 shares of the bank’s stock worth $329,000 after buying an additional 5,482 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan purchased a new position in shares of Severn Bancorp during the 2nd quarter worth approximately $411,000. 19.06% of the stock is owned by institutional investors and hedge funds.

Shares of SVBI stock traded up $0.01 during trading hours on Friday, reaching $7.97. 5,420 shares of the company’s stock were exchanged, compared to its average volume of 8,149. The company has a market cap of $101.58 million, a P/E ratio of 10.74 and a beta of 0.86. The company’s 50 day moving average is $8.09 and its two-hundred day moving average is $8.68. Severn Bancorp has a 1 year low of $7.22 and a 1 year high of $9.94. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.13 and a quick ratio of 1.10.

Severn Bancorp (NASDAQ:SVBI) last issued its earnings results on Friday, July 26th. The bank reported $0.17 earnings per share (EPS) for the quarter. The business had revenue of $10.46 million during the quarter. Severn Bancorp had a return on equity of 9.60% and a net margin of 19.05%.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Friday, September 6th will be paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend is Thursday, September 5th.

Separately, ValuEngine downgraded Severn Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st.

About Severn Bancorp

Severn Bancorp, Inc operates as the holding company for Severn Savings Bank, FSB that provides a range of personal and commercial banking products and services in Maryland, Delaware, and Virginia. The company's deposit products include checking, savings, money market, time deposit, and individual retirement accounts.

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