Shore Bancshares Inc (NASDAQ:SHBI) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Shore Bancshares Inc (NASDAQ:SHBI) have earned an average rating of “Moderate Buy” from the five brokerages that are covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $19.1667.

Several research analysts recently commented on SHBI shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of Shore Bancshares in a research note on Thursday, January 22nd. Hovde Group assumed coverage on Shore Bancshares in a report on Wednesday, November 19th. They set an “outperform” rating and a $19.00 price target on the stock. Keefe, Bruyette & Woods raised their price objective on shares of Shore Bancshares from $18.00 to $20.00 and gave the company an “outperform” rating in a research report on Monday. Wall Street Zen downgraded shares of Shore Bancshares from a “buy” rating to a “hold” rating in a research report on Saturday, October 25th. Finally, Piper Sandler upped their price target on Shore Bancshares from $18.00 to $18.50 and gave the company an “overweight” rating in a research report on Friday, November 14th.

Insider Buying and Selling at Shore Bancshares

In related news, EVP Aaron Michael Kaslow acquired 6,500 shares of the stock in a transaction dated Tuesday, November 18th. The shares were bought at an average cost of $15.56 per share, for a total transaction of $101,140.00. Following the purchase, the executive vice president owned 6,500 shares in the company, valued at approximately $101,140. This trade represents a ? increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders purchased 7,700 shares of company stock worth $121,994. 8.69% of the stock is currently owned by company insiders.

Institutional Trading of Shore Bancshares

A number of hedge funds and other institutional investors have recently modified their holdings of SHBI. Geneos Wealth Management Inc. acquired a new stake in shares of Shore Bancshares during the fourth quarter worth $48,000. CWM LLC boosted its holdings in Shore Bancshares by 4.5% in the 4th quarter. CWM LLC now owns 77,307 shares of the bank’s stock valued at $1,367,000 after purchasing an additional 3,346 shares during the period. State of Alaska Department of Revenue increased its holdings in shares of Shore Bancshares by 207.4% during the fourth quarter. State of Alaska Department of Revenue now owns 4,138 shares of the bank’s stock worth $72,000 after purchasing an additional 2,792 shares during the period. JPMorgan Chase & Co. raised its position in shares of Shore Bancshares by 51.5% in the third quarter. JPMorgan Chase & Co. now owns 22,482 shares of the bank’s stock valued at $369,000 after buying an additional 7,642 shares in the last quarter. Finally, IFP Advisors Inc boosted its stake in shares of Shore Bancshares by 98.9% in the third quarter. IFP Advisors Inc now owns 3,124 shares of the bank’s stock valued at $51,000 after buying an additional 1,553 shares during the period. Institutional investors and hedge funds own 59.76% of the company’s stock.

Shore Bancshares Stock Up 3.1%

NASDAQ SHBI traded up $0.59 during trading on Monday, reaching $19.56. 155,026 shares of the company’s stock were exchanged, compared to its average volume of 179,294. 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 50 day moving average price of $18.06 and a two-hundred day moving average price of $16.89. The stock has a market cap of $653.66 million, a P/E ratio of 10.97 and a beta of 0.94. Shore Bancshares has a 1 year low of $11.47 and a 1 year high of $19.64.

Shore Bancshares (NASDAQ:SHBI) last posted its quarterly earnings data on Wednesday, January 28th. The bank reported $0.53 EPS for the quarter, beating the consensus estimate of $0.48 by $0.05. The firm had revenue of $59.11 million during the quarter, compared to the consensus estimate of $57.55 million. Shore Bancshares had a return on equity of 11.62% and a net margin of 17.36%. On average, equities research analysts anticipate that Shore Bancshares will post 1.59 EPS for the current fiscal year.

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.