Shore Bancshares Inc. (SHBI) Scheduled to Post Quarterly Earnings on Thursday
Shore Bancshares Inc. (NASDAQ:SHBI) is scheduled to be posting its quarterly earnings results after the market closes on Thursday, October 20th. Analysts expect Shore Bancshares to post earnings of $0.18 per share for the quarter.
Shore Bancshares (NASDAQ:SHBI) last announced its quarterly earnings results on Thursday, July 21st. The company reported $0.18 earnings per share (EPS) for the quarter, beating 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 11.79 on Wednesday. The stock’s 50 day moving average price is $11.74 and its 200 day moving average price is $11.67. Shore Bancshares Inc. has a one year low of $9.49 and a one year high of $12.59. The firm has a market capitalization of $149.28 million, a price-to-earnings ratio of 17.09 and a beta of 0.52.
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Separately, Zacks Investment Research downgraded Shore Bancshares from a “buy” rating to a “hold” rating in a report on Thursday, June 23rd.
A number of large investors have recently added to or reduced their stakes in SHBI. Banc Funds Co. LLC increased its stake in Shore Bancshares by 4.9% in the second quarter. Banc Funds Co. LLC now owns 636,970 shares of the company’s stock worth $7,484,000 after buying an additional 29,950 shares in the last quarter. Vanguard Group Inc. increased its stake in Shore Bancshares by 9.7% in the second quarter. Vanguard Group Inc. now owns 415,062 shares of the company’s stock worth $4,877,000 after buying an additional 36,690 shares in the last quarter. BlackRock Fund Advisors increased its stake in Shore Bancshares by 938.3% in the second quarter. BlackRock Fund Advisors now owns 327,986 shares of the company’s stock worth $3,854,000 after buying an additional 296,396 shares in the last quarter. Bridgeway Capital Management Inc. increased its stake in Shore Bancshares by 61.5% in the second quarter. Bridgeway Capital Management Inc. now owns 303,062 shares of the company’s stock worth $3,561,000 after buying an additional 115,400 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its stake in Shore Bancshares by 46.6% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 260,439 shares of the company’s stock worth $3,060,000 after buying an additional 82,826 shares in the last quarter. Institutional investors and hedge funds own 60.51% of the company’s stock.
About Shore Bancshares
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.
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