Shore Bancshares Inc (NASDAQ:SHBI) Given Consensus Rating of “Buy” by Brokerages

Shares of Shore Bancshares Inc (NASDAQ:SHBI) have received a consensus rating of “Buy” from the five brokerages that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $21.3333.

Several research firms have recently commented on SHBI. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $20.00 price target on shares of Shore Bancshares in a research report on Thursday, April 9th. Hovde Group boosted their price target on Shore Bancshares from $19.00 to $22.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 3rd. Zacks Research raised Shore Bancshares from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 28th. Piper Sandler boosted their price target on Shore Bancshares from $21.00 to $22.00 and gave the stock an “overweight” rating in a research report on Monday, May 4th. Finally, Weiss Ratings raised Shore Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, April 6th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tred Avon Family Wealth LLC purchased a new position in Shore Bancshares during the 3rd quarter worth $1,027,000. LSV Asset Management grew its stake in Shore Bancshares by 323.8% during the 3rd quarter. LSV Asset Management now owns 118,971 shares of the bank’s stock worth $1,952,000 after buying an additional 90,900 shares during the last quarter. Quantum Portfolio Management LLC grew its stake in Shore Bancshares by 60.1% during the 3rd quarter. Quantum Portfolio Management LLC now owns 79,173 shares of the bank’s stock worth $1,299,000 after buying an additional 29,732 shares during the last quarter. Hoxton Planning & Management LLC grew its stake in Shore Bancshares by 5.1% during the 3rd quarter. Hoxton Planning & Management LLC now owns 68,436 shares of the bank’s stock worth $1,123,000 after buying an additional 3,306 shares during the last quarter. Finally, Rafferty Asset Management LLC purchased a new position in Shore Bancshares during the 3rd quarter worth $392,000. 59.76% of the stock is currently owned by hedge funds and other institutional investors.

Shore Bancshares Trading Up 0.3%

Shares of NASDAQ SHBI opened at $19.46 on Wednesday. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.15. The business has a fifty day simple moving average of $18.80 and a two-hundred day simple moving average of $18.22. The firm has a market cap of $651.13 million, a PE ratio of 10.35 and a beta of 0.83. Shore Bancshares has a twelve month low of $14.03 and a twelve month high of $20.68.

Shore Bancshares (NASDAQ:SHBI) last released its quarterly earnings results on Thursday, April 23rd. The bank reported $0.55 EPS for the quarter, topping the consensus estimate of $0.45 by $0.10. The firm had revenue of $59.89 million during the quarter, compared to analyst estimates of $58.35 million. Shore Bancshares had a return on equity of 11.84% and a net margin of 18.20%. Analysts expect that Shore Bancshares will post 2.12 earnings per share for the current fiscal year.

Shore Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 18th. Stockholders of record on Wednesday, March 4th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Wednesday, March 4th. Shore Bancshares’s payout ratio is presently 25.53%.

Shore Bancshares Company Profile

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.