Shore Bancshares Inc (NASDAQ:SHBI) Receives Average Rating of “Buy” from Brokerages

Shares of Shore Bancshares Inc (NASDAQ:SHBI) have been assigned a consensus rating of “Buy” from the five research firms that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $21.3333.

A number of brokerages have recently issued reports on SHBI. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $20.00 price target on shares of Shore Bancshares in a research report on Thursday, April 9th. Weiss Ratings raised shares of Shore Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, April 6th. Hovde Group lifted their target price on shares of Shore Bancshares from $19.00 to $22.00 and gave the company an “outperform” rating in a research report on Tuesday, February 3rd. Piper Sandler boosted their price target on shares of Shore Bancshares from $21.00 to $22.00 and gave the stock an “overweight” rating in a research note on Monday, May 4th. Finally, Zacks Research raised shares of Shore Bancshares from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 28th.

Institutional Investors Weigh In On Shore Bancshares

A number of large investors have recently added to or reduced their stakes in SHBI. EverSource Wealth Advisors LLC purchased a new position in shares of Shore Bancshares in the 2nd quarter worth about $31,000. Geneos Wealth Management Inc. purchased a new position in shares of Shore Bancshares during the 4th quarter valued at about $48,000. IFP Advisors Inc raised its holdings in shares of Shore Bancshares by 98.9% during the 3rd 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 in the last quarter. Federated Hermes Inc. lifted its position in 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 during the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in Shore Bancshares by 239.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,500 shares of the bank’s stock worth $71,000 after buying an additional 3,173 shares during the last quarter. Hedge funds and other institutional investors own 59.76% of the company’s stock.

Shore Bancshares Trading Down 0.9%

Shares of SHBI stock opened at $19.15 on Wednesday. The company has a market capitalization of $640.76 million, a PE ratio of 10.19 and a beta of 0.83. Shore Bancshares has a 52-week low of $14.03 and a 52-week high of $20.68. The business’s fifty day moving average is $18.89 and its 200 day moving average is $18.34. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.94 and a current ratio of 0.95.

Shore Bancshares (NASDAQ:SHBI) last posted its earnings results on Thursday, April 23rd. The bank reported $0.55 EPS for the quarter, topping the consensus estimate of $0.45 by $0.10. The business had revenue of $59.89 million during the quarter, compared to analysts’ expectations of $58.35 million. Shore Bancshares had a return on equity of 11.84% and a net margin of 18.20%. On average, equities research analysts anticipate that Shore Bancshares will post 2.12 EPS for the current fiscal year.

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.