Shore Bancshares (NASDAQ:SHBI) Issues Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Key Points

• Q1 EPS beat: Shore Bancshares reported EPS of $0.51, beating the $0.45 consensus by $0.06, with a net margin of 17.36% and ROE of 11.50%, while reporting revenue of ($11.02) million versus $58.35 million expected.
• Dividend maintained: The bank paid a $0.12 quarterly dividend (ex‑dividend March 4), equal to a $0.48 annualized payout and a 2.5% yield with a ~27% payout ratio.
• Market and analyst view: SHBI shares rose 0.3% to $19.31 after the report, trade at a P/E of 10.85 with a market cap of about $646M, and carry a consensus "Moderate Buy" target of $20.17.

Shore Bancshares (NASDAQ:SHBI - Get Free Report) announced its earnings results on Thursday. The bank reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.06, FiscalAI reports. Shore Bancshares had a net margin of 17.36% and a return on equity of 11.50%. The company had revenue of ($11.02) million during the quarter, compared to analyst estimates of $58.35 million.

Shore Bancshares Trading Up 0.3%

NASDAQ SHBI traded up $0.06 during trading on Friday, hitting $19.31. 59,027 shares of the company's stock traded hands, compared to its average volume of 238,593. The stock has a fifty day moving average of $18.80 and a two-hundred day moving average of $17.91. 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 12-month low of $12.93 and a 12-month high of $20.68. The firm has a market cap of $645.95 million, a P/E ratio of 10.85 and a beta of 0.85.

Shore Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 18th. Investors of record on Wednesday, March 4th were given a $0.12 dividend. The ex-dividend date was Wednesday, March 4th. This represents a $0.48 annualized dividend and a yield of 2.5%. Shore Bancshares's payout ratio is 26.97%.

Insider Transactions at Shore Bancshares

In other Shore Bancshares news, Director William E. Esham III purchased 5,000 shares of the business's stock in a transaction on Thursday, February 5th. The stock was acquired at an average cost of $19.99 per share, for a total transaction of $99,950.00. Following the completion of the transaction, the director directly owned 5,510 shares in the company, valued at approximately $110,144.90. This represents a 980.39% increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 8.69% of the stock is currently owned by insiders.

Institutional Trading of Shore Bancshares

Several institutional investors have recently added to or reduced their stakes in SHBI. EverSource Wealth Advisors LLC purchased a new stake in Shore Bancshares during the second quarter valued at about $31,000. Tower Research Capital LLC TRC boosted its position in Shore Bancshares by 239.1% during the second quarter. Tower Research Capital LLC TRC now owns 4,500 shares of the bank's stock valued at $71,000 after buying an additional 3,173 shares during the period. State of Wyoming boosted its position in Shore Bancshares by 150.6% during the second quarter. State of Wyoming now owns 4,682 shares of the bank's stock valued at $74,000 after buying an additional 2,814 shares during the period. BNP Paribas Financial Markets boosted 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 buying an additional 1,324 shares during the period. Finally, Brooklyn Investment Group purchased a new stake in Shore Bancshares during the fourth quarter valued at about $225,000. 59.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SHBI has been the subject of several research reports. Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $20.00 target price on shares of Shore Bancshares in a research report on Thursday, April 9th. Weiss Ratings upgraded shares of Shore Bancshares from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, April 6th. Finally, Hovde Group upped their target price on shares of Shore Bancshares from $19.00 to $22.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 3rd. Three equities 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 target price of $20.17.

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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