Shore Bancshares, Inc. (NASDAQ:SHBI) has earned an average broker rating score of 2.00 (Buy) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a buy rating.
Analysts have set a 12 month consensus price target of $23.00 for the company, according to Zacks. Zacks has also given Shore Bancshares an industry rank of 151 out of 257 based on the ratings given to related companies.
Several equities research analysts recently issued reports on the stock. Sandler O’Neill set a $23.00 price target on shares of Shore Bancshares and gave the stock a “buy” rating in a research note on Monday, July 30th. Keefe, Bruyette & Woods assumed coverage on shares of Shore Bancshares in a research note on Monday, July 16th. They set an “outperform” rating and a $23.00 price target on the stock.
Shore Bancshares stock opened at $16.50 on Wednesday. Shore Bancshares has a 12-month low of $15.25 and a 12-month high of $20.09. The firm has a market cap of $210.09 million, a P/E ratio of 12.88 and a beta of 0.32.
Shore Bancshares (NASDAQ:SHBI) last released its quarterly earnings results on Thursday, October 18th. The bank reported $0.35 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.01). Shore Bancshares had a return on equity of 9.89% and a net margin of 21.52%. The firm had revenue of $17.66 million for the quarter.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Investors of record on Friday, November 16th will be paid a dividend of $0.09 per share. This is an increase from Shore Bancshares’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Thursday, November 15th. This represents a $0.36 annualized dividend and a yield of 2.18%.
A number of institutional investors have recently added to or reduced their stakes in SHBI. California Public Employees Retirement System increased its stake in Shore Bancshares by 11.0% during the 1st quarter. California Public Employees Retirement System now owns 27,400 shares of the bank’s stock worth $517,000 after buying an additional 2,714 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Shore Bancshares by 15.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 351,437 shares of the bank’s stock worth $6,628,000 after purchasing an additional 46,111 shares during the last quarter. Acadian Asset Management LLC bought a new stake in shares of Shore Bancshares in the 2nd quarter worth about $1,298,000. Bailard Inc. increased its position in shares of Shore Bancshares by 24.4% in the 2nd quarter. Bailard Inc. now owns 32,600 shares of the bank’s stock worth $620,000 after purchasing an additional 6,400 shares during the last quarter. Finally, Maltese Capital Management LLC increased its position in shares of Shore Bancshares by 12.9% in the 2nd quarter. Maltese Capital Management LLC now owns 197,500 shares of the bank’s stock worth $3,756,000 after purchasing an additional 22,500 shares during the last quarter. 67.79% 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 that provides various commercial banking products and services to individuals, businesses, and other organizations. The company operates through two segments, Community Banking, and Insurance Products and Services. It offers various deposit products, including checking, savings, and money market accounts; and regular and IRA certificates of deposit, as well as CDARS programs and cash management services.
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