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

Severn Bancorp, Inc. (NASDAQ:SVBI) saw a significant decrease in short interest in July. As of July 31st, there was short interest totalling 3,700 shares, a decrease of 17.8% from the June 30th total of 4,500 shares. Based on an average trading volume of 10,400 shares, the days-to-cover ratio is currently 0.4 days. Currently, 0.0% of the company’s shares are short sold.

SVBI traded down $0.14 during trading on Wednesday, reaching $7.91. The stock had a trading volume of 25,103 shares, compared to its average volume of 17,087. The firm’s 50 day simple moving average is $8.46. The company has a quick ratio of 1.11, a current ratio of 1.12 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $101.06 million, a P/E ratio of 10.81 and a beta of 0.82. Severn Bancorp has a one year low of $7.22 and a one year high of $9.94.

Severn Bancorp (NASDAQ:SVBI) last posted its quarterly earnings data on Monday, May 13th. The bank reported $0.20 earnings per share (EPS) for the quarter. The business had revenue of $10.35 million during the quarter. Severn Bancorp had a return on equity of 9.71% and a net margin of 19.05%.

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

A number of institutional investors and hedge funds have recently bought and sold shares of SVBI. Wells Fargo & Company MN raised its holdings in Severn Bancorp by 1,651.9% in the second quarter. Wells Fargo & Company MN now owns 6,149 shares of the bank’s stock worth $54,000 after purchasing an additional 5,798 shares in the last quarter. Morgan Stanley boosted its position in shares of Severn Bancorp by 40.7% during the second quarter. Morgan Stanley now owns 6,867 shares of the bank’s stock valued at $60,000 after buying an additional 1,988 shares during the last quarter. Bay Harbor Wealth Management LLC purchased a new stake in shares of Severn Bancorp during the second quarter valued at $76,000. Kessler Investment Group LLC boosted its position in shares of Severn Bancorp by 29.5% during the first quarter. Kessler Investment Group LLC now owns 16,035 shares of the bank’s stock valued at $152,000 after buying an additional 3,653 shares during the last quarter. Finally, BlackRock Inc. boosted its position in shares of Severn Bancorp by 16.9% during the second quarter. BlackRock Inc. now owns 37,858 shares of the bank’s stock valued at $329,000 after buying an additional 5,482 shares during the last quarter. Institutional investors and hedge funds own 19.23% of the company’s stock.

Severn Bancorp Company Profile

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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