Wall Street Zen Upgrades Shore Bancshares (NASDAQ:SHBI) to Buy

Shore Bancshares (NASDAQ:SHBI - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report released on Saturday.

Shore Bancshares Price Performance

Shares of Shore Bancshares stock opened at $15.83 on Friday. The stock has a market capitalization of $528.25 million, a P/E ratio of 9.83 and a beta of 0.97. The business's 50 day simple moving average is $15.45 and its two-hundred day simple moving average is $14.76. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.94 and a quick ratio of 0.94. Shore Bancshares has a one year low of $11.47 and a one year high of $17.61.

Shore Bancshares (NASDAQ:SHBI - Get Free Report) last posted its earnings results on Thursday, July 24th. The bank reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.10. The company had revenue of $56.57 million for the quarter, compared to analysts' expectations of $53.77 million. Shore Bancshares had a return on equity of 11.10% and a net margin of 15.98%. Analysts forecast that Shore Bancshares will post 1.59 EPS for the current year.

Insider Buying and Selling at Shore Bancshares

In other Shore Bancshares news, Director Konrad Wayson purchased 5,000 shares of the stock in a transaction that occurred on Friday, May 2nd. The stock was bought at an average cost of $14.25 per share, with a total value of $71,250.00. Following the transaction, the director directly owned 59,328 shares in the company, valued at approximately $845,424. The trade was a 9.20% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders purchased 6,250 shares of company stock worth $89,468 in the last 90 days. Insiders own 8.69% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Shore Bancshares by 3.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,446 shares of the bank's stock valued at $277,000 after buying an additional 609 shares during the last quarter. CWM LLC grew its stake in shares of Shore Bancshares by 1.4% during the 1st quarter. CWM LLC now owns 59,878 shares of the bank's stock valued at $811,000 after acquiring an additional 843 shares during the period. IFP Advisors Inc lifted its stake in shares of Shore Bancshares by 31,320.0% during the 2nd quarter. IFP Advisors Inc now owns 1,571 shares of the bank's stock valued at $25,000 after buying an additional 1,566 shares in the last quarter. Investment Management Corp VA ADV bought a new position in Shore Bancshares in the 4th quarter worth approximately $38,000. Finally, Royal Bank of Canada lifted its stake in Shore Bancshares by 21.8% in the 1st quarter. Royal Bank of Canada now owns 23,168 shares of the bank's stock worth $314,000 after purchasing an additional 4,154 shares in the last quarter. Hedge funds and other institutional investors own 59.76% of the company's stock.

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.

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