Shore Bancshares Inc (NASDAQ:SHBI) Given Consensus Rating of "Moderate Buy" by Analysts

Key Points

• Analysts give Shore Bancshares a consensus rating of "Moderate Buy" (3 buys, 2 holds) with an average 12‑month target of $20.17; Hovde raised its target to $22 and Weiss upgraded the stock to buy.
• Shore reported a quarterly $0.52 EPS (vs. $0.48 est.) and $59.2M in revenue, with a return on equity of 11.5% and a net margin of 17.36%; the shares trade near $19.98 with a P/E of 11.22 and market cap of about $668M.
• The bank pays a quarterly $0.12 dividend (annualized $0.48, yield 2.4%, DPR ~27%), a director bought 5,000 shares at roughly $19.99, insiders own 8.69% and institutional investors hold about 59.8% of the stock.

Shore Bancshares Inc (NASDAQ:SHBI - Get Free Report) has been given an average rating of "Moderate Buy" by the five brokerages that are covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $20.1667.

A number of equities research analysts have commented on the company. Hovde Group increased their price target on Shore Bancshares from $19.00 to $22.00 and gave the company an "outperform" rating in a research note on Tuesday, February 3rd. Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $20.00 price target on shares of Shore Bancshares in a research note on Thursday, April 9th. Finally, Weiss Ratings upgraded Shore Bancshares from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, April 6th.

Shore Bancshares Price Performance

Shares of SHBI stock opened at $19.98 on Friday. The stock's 50-day moving average is $18.86 and its 200 day moving average is $17.83. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.95 and a quick ratio of 0.94. Shore Bancshares has a 1-year low of $12.20 and a 1-year high of $20.68. The company has a market cap of $668.33 million, a P/E ratio of 11.22 and a beta of 0.85.

Shore Bancshares (NASDAQ:SHBI - Get Free Report) last released its quarterly earnings results on Wednesday, January 28th. The bank reported $0.52 EPS for the quarter, beating analysts' consensus estimates of $0.48 by $0.04. Shore Bancshares had a return on equity of 11.50% and a net margin of 17.36%.The company had revenue of $59.20 million during the quarter, compared to analysts' expectations of $57.55 million. Research analysts predict that Shore Bancshares will post 1.59 earnings per share for the current fiscal year.

Shore Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 18th. Shareholders of record on Wednesday, March 4th were paid a $0.12 dividend. The ex-dividend date was Wednesday, March 4th. This represents a $0.48 dividend on an annualized basis and a yield of 2.4%. Shore Bancshares's dividend payout ratio (DPR) is 26.97%.

Insider Buying and Selling

In other Shore Bancshares news, Director William E. Esham III purchased 5,000 shares of the firm's stock in a transaction on Thursday, February 5th. The stock was bought at an average cost of $19.99 per share, for a total transaction of $99,950.00. Following the completion of the purchase, the director owned 5,510 shares in the company, valued at $110,144.90. This represents a 980.39% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 8.69% of the company's stock.

Institutional Investors Weigh In On Shore Bancshares

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Shore Bancshares by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,226 shares of the bank's stock valued at $247,000 after acquiring an additional 780 shares in the last quarter. Curi Capital LLC raised its position in Shore Bancshares by 0.5% during the second quarter. Curi Capital LLC now owns 176,046 shares of the bank's stock valued at $2,767,000 after acquiring an additional 882 shares in the last quarter. Man Group plc raised its position in Shore Bancshares by 5.0% during the fourth quarter. Man Group plc now owns 19,053 shares of the bank's stock valued at $337,000 after acquiring an additional 903 shares in the last quarter. Mariner LLC raised its position in Shore Bancshares by 8.1% during the fourth quarter. Mariner LLC now owns 14,222 shares of the bank's stock valued at $251,000 after acquiring an additional 1,069 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its position in Shore Bancshares by 29.1% during the third quarter. BNP Paribas Financial Markets now owns 5,879 shares of the bank's stock valued at $96,000 after acquiring an additional 1,324 shares in the last quarter. 59.76% of the stock is currently owned by hedge funds and other institutional investors.

About Shore Bancshares

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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