Equities analysts expect that Shore Bancshares, Inc. (NASDAQ:SHBI) will report earnings of $0.38 per share for the current quarter, according to Zacks. Zero analysts have made estimates for Shore Bancshares’ earnings. Shore Bancshares posted earnings of $0.32 per share during the same quarter last year, which would suggest a positive year over year growth rate of 18.8%. The business is scheduled to report its next earnings results on Thursday, January 27th.
On average, analysts expect that Shore Bancshares will report full year earnings of $1.52 per share for the current year. For the next fiscal year, analysts anticipate that the firm will report earnings of $1.54 per share. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that follow Shore Bancshares.
Shore Bancshares (NASDAQ:SHBI) last issued its quarterly earnings data on Wednesday, October 27th. The bank reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. Shore Bancshares had a net margin of 22.14% and a return on equity of 8.60%. The firm had revenue of $18.53 million for the quarter.
SHBI has been the topic of a number of research analyst reports. Zacks Investment Research raised shares of Shore Bancshares from a “hold” rating to a “strong-buy” rating and set a $23.00 price objective on the stock in a report on Tuesday, November 9th. Piper Sandler raised shares of Shore Bancshares from a “neutral” rating to an “overweight” rating and raised their target price for the company from $15.00 to $22.00 in a research note on Thursday, November 4th.
NASDAQ:SHBI traded down $0.24 during mid-day trading on Friday, reaching $20.78. 18,321 shares of the company were exchanged, compared to its average volume of 38,154. Shore Bancshares has a 12 month low of $12.99 and a 12 month high of $23.19. The company has a fifty day moving average of $20.19 and a 200 day moving average of $18.46. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.14. The stock has a market cap of $411.65 million, a PE ratio of 14.95 and a beta of 0.99.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 30th. Stockholders of record on Friday, November 12th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 2.31%. The ex-dividend date was Wednesday, November 10th. Shore Bancshares’s dividend payout ratio (DPR) is presently 34.53%.
Hedge funds and other institutional investors have recently modified their holdings of the company. Panagora Asset Management Inc. raised its position in shares of Shore Bancshares by 762.0% in the 2nd quarter. Panagora Asset Management Inc. now owns 4,672 shares of the bank’s stock valued at $78,000 after acquiring an additional 4,130 shares during the period. Royal Bank of Canada raised its position in shares of Shore Bancshares by 37.8% in the 2nd quarter. Royal Bank of Canada now owns 10,976 shares of the bank’s stock valued at $184,000 after acquiring an additional 3,008 shares during the period. Trexquant Investment LP acquired a new stake in shares of Shore Bancshares in the 2nd quarter valued at approximately $232,000. Two Sigma Investments LP acquired a new stake in shares of Shore Bancshares in the 3rd quarter valued at approximately $298,000. Finally, Tibra Equities Europe Ltd acquired a new stake in shares of Shore Bancshares in the 2nd quarter valued at approximately $305,000. 43.80% of the stock is currently owned by institutional investors.
Shore Bancshares Company Profile
Shore Bancshares, Inc is a financial holding company, which engages in the provision of commercial banking products and services to individuals and businesses. Its services include checking accounts, various savings programs, mortgage loans, home improvement loans, installment and other personal loans, credit cards, personal lines of credit, automobile and other consumer financing, safe deposit boxes, debit cards, 24-hour telephone banking, internet banking, mobile banking, and 24-hour automatic teller machine services.