Shore Bancshares (NASDAQ:SHBI) Now Covered by Piper Sandler

Investment analysts at Piper Sandler initiated coverage on shares of Shore Bancshares (NASDAQ:SHBI) in a research note issued on Thursday,Briefing.com Automated Import reports. The firm set an “overweight” rating and a $20.00 price target on the bank’s stock. Piper Sandler’s price target points to a potential upside of 23.00% from the company’s current price.

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

Shore Bancshares Price Performance

SHBI opened at $16.26 on Thursday. 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 has a 52-week low of $10.06 and a 52-week high of $17.61. The company has a 50 day moving average of $16.04 and a two-hundred day moving average of $14.91. The company has a market cap of $541.95 million, a P/E ratio of 12.23 and a beta of 0.97.

Shore Bancshares (NASDAQ:SHBI) last released its quarterly earnings data on Thursday, January 30th. The bank reported $0.44 earnings per share (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%. On average, analysts expect that Shore Bancshares will post 1.46 earnings per share for the current year.

Insider Transactions at Shore Bancshares

In related news, Director Konrad Wayson purchased 3,000 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were purchased at an average cost of $16.94 per share, with a total value 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. The trade was a 5.97 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 8.57% of the company’s stock.

Institutional Trading of Shore Bancshares

Several institutional investors have recently added to or reduced their stakes in SHBI. AQR Capital Management LLC acquired a new stake in Shore Bancshares in the second quarter valued at $147,000. SG Americas Securities LLC acquired a new stake in Shore Bancshares in the third quarter valued at $156,000. Creative Planning raised its holdings in Shore Bancshares by 30.6% in the third quarter. Creative Planning now owns 37,674 shares of the bank’s stock valued at $527,000 after acquiring an additional 8,831 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in Shore Bancshares by 9.7% in the third quarter. Assenagon Asset Management S.A. now owns 48,706 shares of the bank’s stock valued at $681,000 after acquiring an additional 4,312 shares in the last quarter. Finally, Curi RMB Capital LLC raised its holdings in Shore Bancshares by 13.8% in the third quarter. Curi RMB Capital LLC now owns 175,164 shares of the bank’s stock valued at $2,451,000 after acquiring an additional 21,191 shares in the last quarter. 59.76% of the stock is owned by institutional investors and hedge funds.

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.