Shore Bancshares, Inc. (NASDAQ:SHBI) Director Michael Brian Adams Purchases 965 Shares

Shore Bancshares, Inc. (NASDAQ:SHBI) Director Michael Brian Adams purchased 965 shares of the business’s stock in a transaction on Tuesday, February 4th. The stock was purchased at an average cost of $15.92 per share, for a total transaction of $15,362.80. Following the acquisition, the director now owns 9,126 shares in the company, valued at approximately $145,285.92. The trade was a 11.82 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Shore Bancshares Trading Up 2.4 %

Shares of NASDAQ:SHBI traded up $0.40 on Thursday, hitting $16.66. The company had a trading volume of 115,585 shares, compared to its average volume of 110,716. The firm’s 50-day simple moving average is $16.04 and its two-hundred day simple moving average is $14.91. The firm has a market capitalization of $555.11 million, a price-to-earnings ratio of 12.51 and a beta of 0.97. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.23. Shore Bancshares, Inc. has a 1 year low of $10.06 and a 1 year high of $17.61.

Shore Bancshares (NASDAQ:SHBI) last issued its quarterly earnings data on Thursday, January 30th. The bank reported $0.44 EPS for the quarter, topping the consensus estimate of $0.35 by $0.09. Shore Bancshares had a net margin of 13.44% and a return on equity of 10.40%. Equities analysts anticipate that Shore Bancshares, Inc. will post 1.46 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SHBI has been the topic of several recent analyst reports. Piper Sandler began coverage on Shore Bancshares in a research note on Thursday. They issued an “overweight” rating and a $20.00 target price on the stock. Keefe, Bruyette & Woods upgraded Shore Bancshares from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $16.00 to $20.00 in a research report on Wednesday, December 4th.

Hedge Funds Weigh In On Shore Bancshares

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fourthstone LLC raised its holdings in Shore Bancshares by 1.7% in the third quarter. Fourthstone LLC now owns 3,329,922 shares of the bank’s stock worth $46,586,000 after buying an additional 54,679 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Shore Bancshares by 1.9% during the third quarter. Geode Capital Management LLC now owns 712,895 shares of the bank’s stock valued at $9,976,000 after buying an additional 13,445 shares during the last quarter. State Street Corp lifted its holdings in shares of Shore Bancshares by 8.5% in the third quarter. State Street Corp now owns 537,140 shares of the bank’s stock worth $7,515,000 after buying an additional 41,971 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its stake in Shore Bancshares by 1.0% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 269,375 shares of the bank’s stock valued at $3,769,000 after acquiring an additional 2,700 shares in the last quarter. Finally, Curi RMB Capital LLC boosted its holdings in shares of Shore Bancshares by 13.8% during the 3rd quarter. Curi RMB Capital LLC now owns 175,164 shares of the bank’s stock valued at $2,451,000 after purchasing an additional 21,191 shares during the last quarter. Hedge funds and other institutional investors own 59.76% of the company’s stock.

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.