Shore Bancshares (NASDAQ:SHBI) Issues Earnings Results

Shore Bancshares (NASDAQ:SHBI) posted its quarterly earnings data on Thursday. The bank reported $0.44 earnings per share for the quarter, topping the consensus estimate 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 Price Performance

NASDAQ:SHBI traded up $0.07 during trading hours on Thursday, reaching $15.79. 83,765 shares of the company were exchanged, compared to its average volume of 103,126. The business has a 50 day moving average of $16.08 and a 200 day moving average of $14.81. Shore Bancshares has a 1-year low of $10.06 and a 1-year high of $17.61. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.94 and a quick ratio of 0.93. The company has a market capitalization of $526.28 million, a P/E ratio of 12.63 and a beta of 0.97.

Insider Buying and Selling at Shore Bancshares

In other news, Director Konrad Wayson purchased 3,000 shares of the business’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 acquisition, the director now owns 53,266 shares in the company, valued at approximately $902,326.04. The trade was a 5.97 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 8.57% of the company’s stock.

Analyst Ratings Changes

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

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.