LSV Asset Management Boosts Stock Position in Shore Bancshares Inc $SHBI

LSV Asset Management increased its stake in Shore Bancshares Inc (NASDAQ:SHBI) by 323.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 118,971 shares of the bank’s stock after buying an additional 90,900 shares during the quarter. LSV Asset Management’s holdings in Shore Bancshares were worth $1,952,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in SHBI. IFP Advisors Inc boosted its stake in Shore Bancshares by 31,320.0% in the 2nd quarter. IFP Advisors Inc now owns 1,571 shares of the bank’s stock worth $25,000 after purchasing an additional 1,566 shares during the period. EverSource Wealth Advisors LLC purchased a new stake in shares of Shore Bancshares in the second quarter worth about $31,000. PNC Financial Services Group Inc. boosted its position in shares of Shore Bancshares by 108.4% in the second quarter. PNC Financial Services Group Inc. now owns 3,020 shares of the bank’s stock valued at $47,000 after acquiring an additional 1,571 shares during the period. Federated Hermes Inc. grew its stake in Shore Bancshares by 168.7% during the third quarter. Federated Hermes Inc. now owns 3,471 shares of the bank’s stock valued at $57,000 after acquiring an additional 2,179 shares in the last quarter. Finally, Financial Consulate Inc. bought a new stake in Shore Bancshares during the 3rd quarter worth approximately $71,000. Hedge funds and other institutional investors own 59.76% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on SHBI shares. Keefe, Bruyette & Woods raised their price target on shares of Shore Bancshares from $18.00 to $20.00 and gave the company an “outperform” rating in a report on Monday, February 2nd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Shore Bancshares in a research report on Thursday, January 22nd. Wall Street Zen cut Shore Bancshares from a “buy” rating to a “hold” rating in a research report on Saturday, October 25th. Piper Sandler upped their target price on Shore Bancshares from $18.00 to $18.50 and gave the stock an “overweight” rating in a research note on Friday, November 14th. Finally, Hovde Group lifted 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. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $20.17.

Insider Buying and Selling

In other Shore Bancshares news, Director William E. Esham III purchased 5,000 shares of the firm’s stock in a transaction on Thursday, February 5th. The shares were purchased at an average cost of $19.99 per share, with a total value of $99,950.00. Following the completion of the purchase, the director owned 5,510 shares of the company’s stock, valued at $110,144.90. The trade was a 980.39% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 8.57% of the stock is owned by insiders.

Shore Bancshares Stock Up 0.6%

SHBI opened at $19.79 on Tuesday. The business’s fifty day simple moving average is $18.59 and its 200 day simple moving average is $17.18. Shore Bancshares Inc has a 52 week low of $11.47 and a 52 week high of $20.68. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.16. The stock has a market cap of $661.58 million, a PE ratio of 11.12 and a beta of 0.92.

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

Shore Bancshares 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.