Severn Bancorp (NASDAQ:SVBI) Shares Pass Above 50 Day Moving Average of $7.98

Severn Bancorp, Inc. (NASDAQ:SVBI)’s share price passed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $7.98 and traded as high as $8.10. Severn Bancorp shares last traded at $8.09, with a volume of 4,226 shares.

Separately, ValuEngine upgraded Severn Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd.

The stock has a market cap of $102.90 million, a PE ratio of 10.92 and a beta of 0.86. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.10 and a current ratio of 1.13. The stock has a fifty day moving average price of $7.98 and a 200 day moving average price of $8.54.

Severn Bancorp (NASDAQ:SVBI) last announced its earnings results on Friday, July 26th. The bank reported $0.17 EPS for the quarter. The firm 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 business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Friday, September 6th were issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date of this dividend was Thursday, September 5th.

Several institutional investors have recently made changes to their positions in SVBI. Salzhauer Michael boosted its holdings in Severn Bancorp by 3.5% during the 2nd quarter. Salzhauer Michael now owns 80,006 shares of the bank’s stock valued at $695,000 after acquiring an additional 2,706 shares during the period. Morgan Stanley boosted its holdings in Severn Bancorp by 40.7% during the 2nd quarter. Morgan Stanley now owns 6,867 shares of the bank’s stock valued at $60,000 after acquiring an additional 1,988 shares during the period. Vanguard Group Inc. boosted its holdings in Severn Bancorp by 1.1% during the 2nd quarter. Vanguard Group Inc. now owns 313,238 shares of the bank’s stock valued at $2,722,000 after acquiring an additional 3,531 shares during the period. BlackRock Inc. boosted its holdings in Severn Bancorp by 16.9% during the 2nd quarter. BlackRock Inc. now owns 37,858 shares of the bank’s stock valued at $329,000 after acquiring an additional 5,482 shares during the period. Finally, Wells Fargo & Company MN boosted its holdings in Severn Bancorp by 1,651.9% during the 2nd quarter. Wells Fargo & Company MN now owns 6,149 shares of the bank’s stock valued at $54,000 after acquiring an additional 5,798 shares during the period. Hedge funds and other institutional investors own 19.06% of the company’s stock.

About Severn Bancorp (NASDAQ:SVBI)

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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