Shore Bancshares Inc (SHBI) – What Are Researchers Thinking About This Stock?

Shares of Shore Bancshares Inc (NASDAQ:SHBI) have received an average recommendation of “Moderate Buy” from the six research firms that are presently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $25.62.

Several analysts recently issued reports on SHBI shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Shore Bancshares in a research report on Thursday, October 15th. Keefe, Bruyette & Woods lifted their target price on Shore Bancshares from $22.00 to $25.00 and gave the company a “market perform” rating in a research note on Tuesday, July 28th. Piper Sandler set a $26.00 price target on Shore Bancshares and gave the stock an “overweight” rating in a report on Monday, October 26th. Hovde Group upped their price target on Shore Bancshares from $23.50 to $26.50 and gave the stock an “outperform” rating in a research note on Monday, July 27th. Finally, DA Davidson assumed coverage on shares of Shore Bancshares in a report on Monday, September 28th. They set a “neutral” rating and a $25.00 price objective for the company.

Hedge Funds Weigh In On Shore Bancshares

Several institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE bought a new stake in shares of Shore Bancshares in the second quarter worth about $1,271,000. Lazard Asset Management LLC bought a new position in Shore Bancshares during the first quarter valued at approximately $1,635,000. Ieq Capital LLC bought a new position in Shore Bancshares during the second quarter valued at approximately $1,485,000. Janus Henderson Group PLC boosted its stake in Shore Bancshares by 578.2% during the first quarter. Janus Henderson Group PLC now owns 380,283 shares of the bank’s stock valued at $7,104,000 after buying an additional 324,208 shares during the last quarter. Finally, Equitable Holdings Inc. purchased a new position in Shore Bancshares during the 2nd quarter valued at approximately $1,167,000. 59.76% of the stock is owned by hedge funds and other institutional investors.

Shore Bancshares Stock Performance

Shares of NASDAQ SHBI opened at $22.81 on Wednesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.95 and a quick ratio of 0.94. Shore Bancshares has a 1 year low of $15.48 and a 1 year high of $24.89. The firm has a fifty day moving average price of $22.90 and a 200-day moving average price of $21.17. The stock has a market cap of $761.17 million, a PE ratio of 11.13 and a beta of 0.83.

Shore Bancshares (NASDAQ:SHBI) last issued its quarterly earnings results on Thursday, October 22nd. The bank reported $0.54 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.54. The business had revenue of $62.89 million during the quarter, compared to analyst estimates of $61.31 million. Shore Bancshares had a return on equity of 12.34% and a net margin of 19.69%. Equities analysts anticipate that Shore Bancshares will post 2.28 earnings per share for the current fiscal year.

Shore Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 16th. Stockholders of record on Wednesday, September 2nd were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Wednesday, September 2nd. Shore Bancshares’s payout ratio is 27.32%.

About Shore Bancshares

Shore Bancshares, Inc is a bank holding company headquartered in Easton, Maryland. Through its principal banking subsidiary, Shore United Bank, the company provides a range of financial services to individuals, businesses, nonprofit organizations and local governments.

Shore United Bank offers deposit accounts, consumer and commercial loans, mortgages, home equity financing, cash management and other business banking services. Its offerings also include wealth management, trust and investment services, helping customers manage borrowing, saving, investing and other financial needs.

The company serves communities primarily across Maryland and Delaware, with a network concentrated in the Eastern Shore and expanding into other Maryland markets.