Shore Bancshares (NASDAQ:SHBI) Posts Earnings Results, Beats Estimates By $0.09 EPS

Shore Bancshares (NASDAQ:SHBI) released its quarterly earnings data on Thursday. The bank reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.09, Zacks reports. Shore Bancshares had a net margin of 12.85% and a return on equity of 10.11%.

Shore Bancshares Stock Up 3.5 %

Shares of SHBI stock opened at $16.35 on Friday. Shore Bancshares has a 12-month low of $10.06 and a 12-month high of $17.61. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.23. The firm has a fifty day moving average of $16.06 and a 200-day moving average of $14.84. The company has a market capitalization of $544.95 million, a price-to-earnings ratio of 13.08 and a beta of 0.97.

Insider Activity at Shore Bancshares

In other Shore Bancshares news, Director Konrad Wayson acquired 3,000 shares of the stock in a transaction dated Monday, November 25th. The shares were bought at an average cost of $16.94 per share, for a total transaction of $50,820.00. Following the completion of the acquisition, the director now directly owns 53,266 shares of the company’s stock, valued at approximately $902,326.04. This trade represents a 5.97 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.57% of the stock is currently owned by insiders.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods raised Shore Bancshares from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $16.00 to $20.00 in a research note on Wednesday, December 4th.

About Shore Bancshares

Shore Bancshares, Inc operates as a bank holding company for the Shore United Bank, N.A. that provides various commercial and consumer banking products and services to individuals, businesses, and other organizations. It offers checking, savings, overnight investment sweep, and money market accounts; and regular and IRA certificates of deposit, as well as CDARS programs and cash management services.