Shore Bancshares (NASDAQ:SHBI) Price Target Raised to $20.00

Shore Bancshares (NASDAQ:SHBI) had its price target upped by Keefe, Bruyette & Woods from $18.00 to $20.00 in a research report sent to investors on Monday,Benzinga reports. They currently have an outperform rating on the bank’s stock.

Other research analysts also recently issued research reports about the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Shore Bancshares in a research note on Thursday, January 22nd. Piper Sandler increased their price target on shares of Shore Bancshares from $18.00 to $18.50 and gave the stock an “overweight” rating in a research report on Friday, November 14th. Hovde Group started coverage on shares of Shore Bancshares in a research note on Wednesday, November 19th. They set an “outperform” rating and a $19.00 target price on the stock. Finally, Wall Street Zen lowered Shore Bancshares from a “buy” rating to a “hold” rating in a research note on Saturday, October 25th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $20.17.

Shore Bancshares Price Performance

SHBI opened at $20.02 on Monday. Shore Bancshares has a 52-week low of $11.47 and a 52-week high of $20.40. The stock has a market capitalization of $669.27 million, a PE ratio of 11.25 and a beta of 0.92. The stock’s 50 day moving average price is $18.21 and its 200-day moving average price is $16.95. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.95 and a current ratio of 0.96.

Shore Bancshares (NASDAQ:SHBI) last posted its earnings results on Wednesday, January 28th. The bank reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.04. The firm had revenue of $59.20 million for the quarter, compared to the consensus estimate of $57.55 million. Shore Bancshares had a return on equity of 11.62% and a net margin of 17.36%. On average, equities research analysts predict that Shore Bancshares will post 1.59 EPS for the current year.

Insider Activity at Shore Bancshares

In related news, EVP Aaron Michael Kaslow purchased 6,500 shares of the business’s stock in a transaction dated Tuesday, November 18th. The shares were purchased at an average cost of $15.56 per share, for a total transaction of $101,140.00. Following the completion of the acquisition, the executive vice president owned 6,500 shares in the company, valued at approximately $101,140. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have bought 7,700 shares of company stock valued at $121,994 in the last quarter. Corporate insiders own 8.69% of the company’s stock.

Hedge Funds Weigh In On Shore Bancshares

Institutional investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Shore Bancshares by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,226 shares of the bank’s stock worth $247,000 after acquiring an additional 780 shares in the last quarter. Curi Capital LLC boosted its position in Shore Bancshares by 0.5% in the second quarter. Curi Capital LLC now owns 176,046 shares of the bank’s stock valued at $2,767,000 after buying an additional 882 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Shore Bancshares by 29.1% during the third quarter. BNP Paribas Financial Markets now owns 5,879 shares of the bank’s stock worth $96,000 after purchasing an additional 1,324 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of Shore Bancshares by 3.5% in the 3rd quarter. Rhumbline Advisers now owns 44,538 shares of the bank’s stock valued at $731,000 after buying an additional 1,525 shares during the period. Finally, IFP Advisors Inc boosted its position in Shore Bancshares by 98.9% in the 3rd quarter. IFP Advisors Inc now owns 3,124 shares of the bank’s stock worth $51,000 after purchasing an additional 1,553 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 (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.