Shore Bancshares (NASDAQ:SHBI) Issues Earnings Results

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

Shore Bancshares Stock Up 0.4 %

Shares of SHBI traded up $0.07 during mid-day trading on Thursday, hitting $15.79. The company’s stock had a trading volume of 83,765 shares, compared to its average volume of 103,126. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.23. The company’s 50-day moving average is $16.08 and its 200-day moving average is $14.81. Shore Bancshares has a 52-week low of $10.06 and a 52-week high of $17.61. The firm has a market capitalization of $526.28 million, a price-to-earnings ratio of 12.63 and a beta of 0.97.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In related news, Director Konrad Wayson acquired 3,000 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were bought at an average price of $16.94 per share, with a total value of $50,820.00. Following the completion of the transaction, the director now directly owns 53,266 shares in the company, valued at $902,326.04. This trade represents a 5.97 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 8.57% of the stock is currently owned by insiders.

Shore Bancshares Company Profile

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.