Shore Bancshares (NASDAQ:SHBI) Releases Quarterly Earnings Results

Shore Bancshares (NASDAQ:SHBI) issued its quarterly earnings results on Thursday. The bank reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.09, Zacks reports. Shore Bancshares had a return on equity of 10.11% and a net margin of 12.85%.

Shore Bancshares Stock Up 0.4 %

Shares of Shore Bancshares stock traded up $0.07 during trading hours on Thursday, reaching $15.79. 83,765 shares of the company’s stock were exchanged, compared to its average volume of 103,126. The stock has a market cap of $526.28 million, a P/E ratio of 12.63 and a beta of 0.97. The company has a 50 day moving average of $16.08 and a two-hundred day moving average of $14.81. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.23. Shore Bancshares has a fifty-two week low of $10.06 and a fifty-two week high of $17.61.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods upgraded Shore Bancshares from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $16.00 to $20.00 in a research note on Wednesday, December 4th.

Insider Activity at Shore Bancshares

In other news, Director Konrad Wayson acquired 3,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was bought at an average price of $16.94 per share, with a total value of $50,820.00. Following the transaction, the director now directly owns 53,266 shares in the company, valued at approximately $902,326.04. The trade was a 5.97 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 8.57% of the stock is owned by company insiders.

About Shore Bancshares

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.