William Esham III Purchases 5,000 Shares of Shore Bancshares (NASDAQ:SHBI) Stock

Shore Bancshares Inc (NASDAQ:SHBI) Director William Esham III purchased 5,000 shares of the stock in a transaction on Thursday, February 5th. The shares were purchased at an average cost of $19.99 per share, for a total transaction of $99,950.00. Following the acquisition, the director directly owned 5,510 shares of the company’s stock, valued at approximately $110,144.90. This represents a 980.39% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Shore Bancshares Trading Down 0.9%

Shares of Shore Bancshares stock opened at $20.19 on Wednesday. Shore Bancshares Inc has a fifty-two week low of $11.47 and a fifty-two week high of $20.68. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.95 and a current ratio of 0.96. The company has a market capitalization of $674.95 million, a P/E ratio of 11.34 and a beta of 0.92. The company has a fifty day moving average of $18.42 and a 200 day moving average of $17.07.

Shore Bancshares (NASDAQ:SHBI) last announced its quarterly earnings data on Wednesday, January 28th. The bank reported $0.52 EPS for the quarter, beating the consensus estimate of $0.48 by $0.04. Shore Bancshares had a return on equity of 11.62% and a net margin of 17.36%.The business had revenue of $59.20 million for the quarter, compared to the consensus estimate of $57.55 million. On average, sell-side analysts anticipate that Shore Bancshares Inc will post 1.59 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Keefe, Bruyette & Woods upped their price objective on Shore Bancshares from $18.00 to $20.00 and gave the company an “outperform” rating in a research report on Monday, February 2nd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Shore Bancshares in a report on Thursday, January 22nd. Piper Sandler increased their price target on Shore Bancshares from $18.00 to $18.50 and gave the company an “overweight” rating in a report on Friday, November 14th. Wall Street Zen downgraded Shore Bancshares from a “buy” rating to a “hold” rating in a research report on Saturday, October 25th. Finally, Hovde Group lifted their price objective on shares of Shore Bancshares from $19.00 to $22.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 3rd. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $20.17.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SHBI. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Shore Bancshares by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,226 shares of the bank’s stock valued at $247,000 after buying an additional 780 shares during the last quarter. Curi Capital LLC grew its position in shares of Shore Bancshares by 0.5% in the 2nd quarter. Curi Capital LLC now owns 176,046 shares of the bank’s stock worth $2,767,000 after buying an additional 882 shares during the last quarter. BNP Paribas Financial Markets raised its stake in shares of Shore Bancshares by 29.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 5,879 shares of the bank’s stock worth $96,000 after acquiring an additional 1,324 shares in the last quarter. Rhumbline Advisers lifted its position in Shore Bancshares by 3.5% during the third quarter. Rhumbline Advisers now owns 44,538 shares of the bank’s stock valued at $731,000 after acquiring an additional 1,525 shares during the last quarter. Finally, IFP Advisors Inc lifted its position in Shore Bancshares by 98.9% during the third quarter. IFP Advisors Inc now owns 3,124 shares of the bank’s stock valued at $51,000 after acquiring an additional 1,553 shares during the last quarter. 59.76% of the stock is currently owned by hedge funds and other institutional investors.

About Shore Bancshares

Shore Bancshares, Inc (NASDAQ: SHBI) is the bank holding company for Shore Community Bank, a commercial bank headquartered in Mount Holly, New Jersey. The company provides a full suite of banking and financial services to individuals and businesses, including deposit accounts, consumer and commercial lending, mortgage financing, and cash management solutions. Through its branch network, Shore Bancshares focuses on delivering community-oriented banking services with an emphasis on personalized customer relationships.

Shore Community Bank’s lending portfolio includes commercial real estate, construction loans, agricultural loans, small business loans under government-sponsored programs, and conventional residential mortgages.