Shore Bancshares Inc (NASDAQ:SHBI) Receives $20.17 Consensus PT from Analysts

Shares of Shore Bancshares Inc (NASDAQ:SHBI) have received a consensus rating of “Moderate Buy” from the five ratings firms that are currently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $20.1667.

Several equities analysts recently weighed in on SHBI shares. Keefe, Bruyette & Woods lifted their target price on Shore Bancshares from $18.00 to $20.00 and gave the company an “outperform” rating in a research report on Monday, February 2nd. Hovde Group raised their price objective on Shore Bancshares from $19.00 to $22.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 3rd. Finally, Weiss Ratings cut Shore Bancshares from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, March 19th.

Shore Bancshares Stock Up 0.2%

Shares of SHBI stock opened at $18.35 on Tuesday. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.15. Shore Bancshares has a 12 month low of $11.47 and a 12 month high of $20.68. The stock has a market cap of $613.26 million, a P/E ratio of 10.31 and a beta of 0.90. The company has a 50 day simple moving average of $18.79 and a two-hundred day simple moving average of $17.60.

Shore Bancshares (NASDAQ:SHBI) last issued its quarterly earnings results on Wednesday, January 28th. The bank reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.04. The business had revenue of $59.20 million for the quarter, compared to analysts’ expectations of $57.55 million. Shore Bancshares had a net margin of 17.36% and a return on equity of 11.50%. On average, research analysts expect that Shore Bancshares will post 1.59 earnings per share for the current year.

Shore Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 18th. Shareholders of record on Wednesday, March 4th were paid a dividend of $0.12 per share. The ex-dividend date was Wednesday, March 4th. This represents a $0.48 dividend on an annualized basis and a yield of 2.6%. Shore Bancshares’s dividend payout ratio (DPR) is presently 26.97%.

Insiders Place Their Bets

In other news, Director William E. Esham III purchased 5,000 shares of the company’s stock in a transaction on Thursday, February 5th. The stock was acquired at an average cost of $19.99 per share, for a total transaction of $99,950.00. Following the completion of the transaction, the director directly owned 5,510 shares in the company, valued at $110,144.90. This trade represents a 980.39% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 8.69% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Shore Bancshares

Several large investors have recently made changes to their positions in SHBI. EverSource Wealth Advisors LLC bought a new position in shares of Shore Bancshares during the 2nd quarter valued at approximately $31,000. Geneos Wealth Management Inc. bought a new stake in Shore Bancshares in the fourth quarter worth $48,000. PNC Financial Services Group Inc. raised its stake in Shore Bancshares by 108.4% during the second quarter. PNC Financial Services Group Inc. now owns 3,020 shares of the bank’s stock valued at $47,000 after purchasing an additional 1,571 shares in the last quarter. 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 purchasing an additional 1,553 shares during the last quarter. Finally, Federated Hermes Inc. grew its stake in shares of Shore Bancshares by 168.7% in the 3rd quarter. Federated Hermes Inc. now owns 3,471 shares of the bank’s stock worth $57,000 after buying an additional 2,179 shares in the last quarter. 59.76% of the stock is currently owned by hedge funds and other institutional investors.

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.