Shore Bancshares (NASDAQ:SHBI) Director William Esham III Acquires 5,000 Shares of Stock

Shore Bancshares Inc (NASDAQ:SHBI) Director William Esham III acquired 5,000 shares of the stock in a transaction dated Thursday, February 5th. The shares were acquired at an average cost of $19.99 per share, with a total value of $99,950.00. Following the completion of the transaction, the director owned 5,510 shares in the company, valued at approximately $110,144.90. This represents a 980.39% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Shore Bancshares Trading Up 0.2%

Shares of Shore Bancshares stock opened at $20.38 on Tuesday. The company has a fifty day simple moving average of $18.37 and a 200-day simple moving average of $17.04. Shore Bancshares Inc has a 12-month low of $11.47 and a 12-month high of $20.68. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.16. The stock has a market cap of $681.30 million, a price-to-earnings ratio of 11.45 and a beta of 0.92.

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

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Shore Bancshares

Institutional investors and hedge funds have recently modified their holdings of the company. Royal Bank of Canada grew its position in shares of Shore Bancshares by 21.8% in the first quarter. Royal Bank of Canada now owns 23,168 shares of the bank’s stock valued at $314,000 after purchasing an additional 4,154 shares during the period. AQR Capital Management LLC lifted its position in Shore Bancshares by 599.2% during the first quarter. AQR Capital Management LLC now owns 112,259 shares of the bank’s stock worth $1,520,000 after buying an additional 96,204 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Shore Bancshares by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,226 shares of the bank’s stock worth $247,000 after buying an additional 780 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Shore Bancshares by 18.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 219,494 shares of the bank’s stock valued at $2,972,000 after buying an additional 34,453 shares during the period. Finally, Empowered Funds LLC increased its stake in shares of Shore Bancshares by 126.5% during the 1st quarter. Empowered Funds LLC now owns 78,095 shares of the bank’s stock valued at $1,057,000 after acquiring an additional 43,613 shares during 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.