Shore Bancshares, Inc. (NASDAQ:SHBI) Expected to Announce Earnings of $0.39 Per Share

Brokerages forecast that Shore Bancshares, Inc. (NASDAQ:SHBIGet Rating) will report earnings of $0.39 per share for the current quarter, according to Zacks Investment Research. Zero analysts have issued estimates for Shore Bancshares’ earnings. Shore Bancshares reported earnings of $0.34 per share in the same quarter last year, which indicates a positive year over year growth rate of 14.7%. The firm is scheduled to announce its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Shore Bancshares will report full-year earnings of $1.55 per share for the current fiscal year. For the next year, analysts forecast that the business will report earnings of $1.85 per share. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that cover Shore Bancshares.

Shore Bancshares (NASDAQ:SHBIGet Rating) last released its quarterly earnings data on Thursday, April 28th. The bank reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.02). The business had revenue of $28.52 million during the quarter. Shore Bancshares had a net margin of 17.67% and a return on equity of 6.53%.

Several equities research analysts have recently issued reports on SHBI shares. StockNews.com started coverage on shares of Shore Bancshares in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Zacks Investment Research cut shares of Shore Bancshares from a “hold” rating to a “sell” rating in a report on Wednesday, June 1st.

SHBI stock opened at $20.53 on Thursday. Shore Bancshares has a 52 week low of $16.25 and a 52 week high of $23.19. The company has a market cap of $407.32 million, a P/E ratio of 17.55 and a beta of 0.87. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 0.15. The company’s 50-day moving average price is $19.94 and its 200 day moving average price is $20.24.

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 31st. Investors of record on Saturday, May 14th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date was Thursday, May 12th. Shore Bancshares’s payout ratio is currently 41.03%.

Hedge funds have recently bought and sold shares of the business. Advisor Group Holdings Inc. purchased a new stake in Shore Bancshares in the 4th quarter worth approximately $41,000. Dorsey Wright & Associates purchased a new stake in shares of Shore Bancshares in the first quarter valued at approximately $45,000. JPMorgan Chase & Co. acquired a new position in shares of Shore Bancshares during the fourth quarter worth $76,000. Royal Bank of Canada increased 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. Finally, Citigroup Inc. acquired a new stake in Shore Bancshares during the 4th quarter worth about $194,000. 56.21% of the stock is currently owned by institutional investors and hedge funds.

About Shore Bancshares (Get Rating)

Shore Bancshares, Inc operates as a bank holding company for the Shore United Bank 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.

Further Reading

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Earnings History and Estimates for Shore Bancshares (NASDAQ:SHBI)

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