Key Points
- Director William Esham III purchased 5,000 shares on Feb. 5 at an average price of $19.99 (~$99,950), increasing his stake to 5,510 shares — a 980.39% jump in his position.
- Shore Bancshares reported Q4 EPS of $0.52 (vs. $0.48 consensus) and revenue of $59.2M (vs. $57.55M), and the stock trades near its 1‑year high with a market cap of about $681M and a P/E of 11.45.
- Analysts hold a consensus "Moderate Buy" rating with a $20.17 average price target, several firms recently raised targets (Hovde to $22, KBW to $20), and institutional investors own roughly 59.8% of the shares.
Shore Bancshares Inc (NASDAQ:SHBI - Get Free Report) Director William Esham III purchased 5,000 shares of the stock in a transaction on Thursday, February 5th. The shares were purchased at an average cost of $19.99 per share, with a total value of $99,950.00. Following the transaction, the director owned 5,510 shares of the company's stock, valued at $110,144.90. This trade represents a 980.39% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
Shore Bancshares Stock Performance
NASDAQ SHBI opened at $20.38 on Tuesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.96 and a quick ratio of 0.95. Shore Bancshares Inc has a 1-year low of $11.47 and a 1-year high of $20.68. The firm has a market capitalization of $681.30 million, a P/E ratio of 11.45 and a beta of 0.92. The business's 50-day simple moving average is $18.37 and its 200-day simple moving average is $17.04.
Shore Bancshares (NASDAQ:SHBI - Get Free Report) last posted its earnings results on Wednesday, January 28th. The bank reported $0.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.48 by $0.04. The firm had revenue of $59.20 million during the quarter, compared to the consensus estimate of $57.55 million. Shore Bancshares had a net margin of 17.36% and a return on equity of 11.62%. Equities analysts predict that Shore Bancshares Inc will post 1.59 EPS for the current year.
Institutional Investors Weigh In On Shore Bancshares
A number of hedge funds have recently bought and sold shares of the business. Knights of Columbus Asset Advisors LLC purchased a new stake in Shore Bancshares during the 4th quarter worth approximately $1,867,000. LSV Asset Management grew its position in shares of Shore Bancshares by 54.5% during the fourth quarter. LSV Asset Management now owns 183,777 shares of the bank's stock worth $3,249,000 after buying an additional 64,806 shares in the last quarter. Bailard Inc. increased its stake in shares of Shore Bancshares by 6.7% in the fourth quarter. Bailard Inc. now owns 45,725 shares of the bank's stock worth $808,000 after buying an additional 2,888 shares during the last quarter. Geneos Wealth Management Inc. acquired a new stake in Shore Bancshares in the fourth quarter valued at $48,000. Finally, CWM LLC raised its holdings in Shore Bancshares by 4.5% in the fourth quarter. CWM LLC now owns 77,307 shares of the bank's stock valued at $1,367,000 after acquiring an additional 3,346 shares in the last quarter. Institutional investors and hedge funds own 59.76% of the company's stock.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on SHBI shares. Wall Street Zen cut shares of Shore Bancshares from a "buy" rating to a "hold" rating in a research report on Saturday, October 25th. Hovde Group upped their target price on Shore Bancshares from $19.00 to $22.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 3rd. Keefe, Bruyette & Woods increased their target price on Shore Bancshares from $18.00 to $20.00 and gave the company an "outperform" rating in a research note on Monday, February 2nd. Piper Sandler raised their target price on Shore Bancshares from $18.00 to $18.50 and gave the company an "overweight" rating in a report on Friday, November 14th. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of Shore Bancshares in a report on Thursday, January 22nd. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Shore Bancshares currently has a consensus rating of "Moderate Buy" and a consensus price target of $20.17.
Get Our Latest Report on Shore Bancshares
Shore Bancshares Company Profile
(
Get Free Report)
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.
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