Shore Bancshares (NASDAQ:SHBI) Director Buys $99,950.00 in Stock

Shore Bancshares Inc (NASDAQ:SHBI) Director William Esham III bought 5,000 shares of the stock in a transaction on Thursday, February 5th. The shares were 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 of the company’s stock, valued at approximately $110,144.90. The trade was a 980.39% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Shore Bancshares Price Performance

Shares of NASDAQ:SHBI opened at $19.75 on Thursday. The stock has a market capitalization of $660.24 million, a P/E ratio of 11.10 and a beta of 0.92. The business has a 50-day moving average of $18.46 and a two-hundred day moving average of $17.08. Shore Bancshares Inc has a fifty-two week low of $11.47 and a fifty-two week high of $20.68. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.96 and a quick ratio of 0.95.

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in Shore Bancshares by 2.8% in the 3rd quarter. Vanguard Group Inc. now owns 1,781,501 shares of the bank’s stock valued at $29,234,000 after acquiring an additional 48,390 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Shore Bancshares by 4.2% during the third quarter. Dimensional Fund Advisors LP now owns 1,609,616 shares of the bank’s stock valued at $26,414,000 after purchasing an additional 64,175 shares during the period. Wellington Management Group LLP raised its stake in shares of Shore Bancshares by 19.7% in the third quarter. Wellington Management Group LLP now owns 1,065,910 shares of the bank’s stock valued at $17,492,000 after purchasing an additional 175,282 shares in the last quarter. Geode Capital Management LLC lifted its position in Shore Bancshares by 5.0% in the second quarter. Geode Capital Management LLC now owns 749,327 shares of the bank’s stock worth $11,782,000 after purchasing an additional 35,407 shares during the period. Finally, American Century Companies Inc. lifted its position in Shore Bancshares by 15.0% in the second quarter. American Century Companies Inc. now owns 682,947 shares of the bank’s stock worth $10,736,000 after purchasing an additional 88,844 shares during the period. Institutional investors and hedge funds own 59.76% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on SHBI shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Shore Bancshares in a report on Thursday, January 22nd. Keefe, Bruyette & Woods boosted their target price on shares of Shore Bancshares from $18.00 to $20.00 and gave the stock an “outperform” rating in a research report on Monday, February 2nd. Hovde Group raised their price target on Shore Bancshares from $19.00 to $22.00 and gave the company an “outperform” rating in a research report on Tuesday, February 3rd. Wall Street Zen lowered Shore Bancshares from a “buy” rating to a “hold” rating in a research note on Saturday, October 25th. Finally, Piper Sandler increased their target price on Shore Bancshares from $18.00 to $18.50 and gave the company an “overweight” rating in a research note on Friday, November 14th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Shore Bancshares currently has an average rating of “Moderate Buy” and an average price target of $20.17.

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.