Insider Buying: Shore Bancshares CFO Buys 2,400 Shares of Stock (SHBI)
Shore Bancshares (NASDAQ:SHBI) CFO George Stephen Rapp purchased 2,400 shares of the company’s stock on the open market in a transaction that occurred on Tuesday, May 27th. The shares were purchased at an average cost of $8.25 per share, for a total transaction of $19,800.00. Following the completion of the transaction, the chief financial officer now directly owns 6,330 shares of the company’s stock, valued at approximately $52,223. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Separately, analysts at Zacks downgraded shares of Shore Bancshares from an “outperform” rating to a “neutral” rating in a research note on Monday, March 10th. They now have a $10.60 price target on the stock.
Shore Bancshares (NASDAQ:SHBI) traded down 2.14% on Thursday, hitting $9.59. 27,391 shares of the company’s stock traded hands. Shore Bancshares has a 1-year low of $6.81 and a 1-year high of $10.49. The stock’s 50-day moving average is $9.40 and its 200-day moving average is $9.34. The company’s market cap is $81.3 million.
Shore Bancshares (NASDAQ:SHBI) last announced its earnings results on Thursday, April 24th. The company reported $0.15 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.12 by $0.03. On average, analysts predict that Shore Bancshares will post $0.61 earnings per share for the current fiscal year.
Shore Bancshares, Inc is a financial holding company. The Company engages in the banking business through The Centreville National Bank (NASDAQ:SHBI) with commercial banking powers, The Talbot Bank of Easton (Talbot Bank) and The Felton Bank (Felton Bank) (together with CNB and Talbot Bank, the Banks).
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.