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

Shares of Shore Bancshares Inc (NASDAQ:SHBI) have received an average recommendation of “Moderate Buy” from the five research firms that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $19.1667.

SHBI has been the subject of a number of analyst reports. Piper Sandler raised their price objective on Shore Bancshares from $18.00 to $18.50 and gave the company an “overweight” rating in a research report on Friday. Wall Street Zen downgraded Shore Bancshares from a “buy” rating to a “hold” rating in a report on Saturday, October 25th. Zacks Research lowered Shore Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 26th. Weiss Ratings reissued a “hold (c+)” rating on shares of Shore Bancshares in a research report on Wednesday, October 8th. Finally, Hovde Group initiated coverage on shares of Shore Bancshares in a research note on Wednesday. They set an “outperform” rating and a $19.00 price objective for the company.

Shore Bancshares Trading Up 0.1%

NASDAQ:SHBI opened at $15.55 on Wednesday. The firm has a market capitalization of $519.79 million, a P/E ratio of 9.15 and a beta of 1.10. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.94 and a quick ratio of 0.94. Shore Bancshares has a one year low of $11.47 and a one year high of $17.67. The company’s 50-day simple moving average is $16.25 and its 200 day simple moving average is $15.85.

Shore Bancshares (NASDAQ:SHBI) last released its earnings results on Monday, September 19th. The bank reported $0.37 earnings per share (EPS) for the quarter. Shore Bancshares had a net margin of 16.78% and a return on equity of 11.37%. The firm had revenue of $16.91 million during the quarter. As a group, analysts forecast that Shore Bancshares will post 1.59 EPS for the current fiscal year.

Shore Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Thursday, November 13th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, November 13th. This represents a $0.48 annualized dividend and a dividend yield of 3.1%. Shore Bancshares’s dividend payout ratio (DPR) is 28.24%.

Institutional Trading of Shore Bancshares

Several institutional investors have recently added to or reduced their stakes in SHBI. Vanguard Group Inc. increased its holdings in shares of Shore Bancshares by 2.8% in the 3rd quarter. Vanguard Group Inc. now owns 1,781,501 shares of the bank’s stock worth $29,234,000 after purchasing an additional 48,390 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Shore Bancshares by 4.2% during the third quarter. Dimensional Fund Advisors LP now owns 1,609,616 shares of the bank’s stock valued at $26,414,000 after buying an additional 64,175 shares during the last quarter. Wellington Management Group LLP increased its holdings in Shore Bancshares by 19.7% in the 3rd quarter. Wellington Management Group LLP now owns 1,065,910 shares of the bank’s stock worth $17,492,000 after buying an additional 175,282 shares in the last quarter. Geode Capital Management LLC increased its holdings in Shore Bancshares by 5.0% in the 2nd quarter. Geode Capital Management LLC now owns 749,327 shares of the bank’s stock worth $11,782,000 after buying an additional 35,407 shares in the last quarter. Finally, American Century Companies Inc. raised its position in Shore Bancshares by 15.0% in the 2nd quarter. American Century Companies Inc. now owns 682,947 shares of the bank’s stock worth $10,736,000 after buying an additional 88,844 shares during 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 operates as a bank holding company for the Shore United Bank, N.A. that provides various commercial and consumer banking products and services to individuals, businesses, and other organizations. It offers checking, savings, overnight investment sweep, and money market accounts; and regular and IRA certificates of deposit, as well as CDARS programs and cash management services.