Shore Bancshares Inc. (SHBI) Set to Announce Quarterly Earnings on Thursday
Shore Bancshares Inc. (NASDAQ:SHBI) is set to issue its quarterly earnings data after the market closes on Thursday, October 20th. Analysts expect the company to announce earnings of $0.18 per share for the quarter.
Shore Bancshares (NASDAQ:SHBI) last issued its quarterly earnings data on Thursday, July 21st. The company reported $0.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.01. Shore Bancshares had a return on equity of 5.92% and a net margin of 15.74%. On average, analysts expect Shore Bancshares to post $0.73 EPS for the current fiscal year and $0.85 EPS for the next fiscal year.
Shares of Shore Bancshares Inc. (NASDAQ:SHBI) opened at 11.77 on Tuesday. The stock’s 50 day moving average price is $11.74 and its 200 day moving average price is $11.67. The stock has a market capitalization of $149.03 million, a PE ratio of 17.06 and a beta of 0.52. Shore Bancshares Inc. has a one year low of $9.41 and a one year high of $12.59.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Panagora Asset Management Inc. purchased a new position in shares of Shore Bancshares during the second quarter valued at about $119,000. Rhumbline Advisers purchased a new position in shares of Shore Bancshares during the second quarter valued at about $119,000. Nationwide Fund Advisors purchased a new position in shares of Shore Bancshares during the second quarter valued at about $143,000. Teachers Advisors Inc. purchased a new position in shares of Shore Bancshares during the second quarter valued at about $164,000. Finally, Dimensional Fund Advisors LP boosted its position in shares of Shore Bancshares by 16.5% in the second quarter. Dimensional Fund Advisors LP now owns 173,694 shares of the company’s stock valued at $2,041,000 after buying an additional 24,604 shares during the last quarter. Hedge funds and other institutional investors own 60.51% of the company’s stock.
Separately, Zacks Investment Research upgraded Shore Bancshares from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a research note on Tuesday, July 26th.
Shore Bancshares Company Profile
Shore Bancshares, Inc is a financial holding company. The Company acts as the parent company to several financial institution and insurance entities. The Company has two business segments: Community Banking, and Insurance Products and Services. Its Community Banking segment provides services to consumers and small businesses on the Eastern Shore of Maryland and in Delaware.
Receive News & Ratings for Shore Bancshares Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shore Bancshares Inc. and related companies with MarketBeat.com's FREE daily email newsletter.