Keefe, Bruyette & Woods Lowers Shore Bancshares (NASDAQ:SHBI) Price Target to $13.00

Shore Bancshares (NASDAQ:SHBI) had its price objective reduced by stock analysts at Keefe, Bruyette & Woods from $14.00 to $13.00 in a research note issued on Friday, Benzinga reports. The firm currently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ price target points to a potential upside of 15.97% from the company’s current price.

A number of other equities analysts have also recently issued reports on SHBI. TheStreet cut Shore Bancshares from a “b-” rating to a “c+” rating in a report on Thursday, February 29th. StockNews.com raised Shore Bancshares from a “sell” rating to a “hold” rating in a report on Thursday, February 1st.

Shore Bancshares Trading Up 4.8 %

Shares of SHBI opened at $11.21 on Friday. Shore Bancshares has a 1 year low of $9.66 and a 1 year high of $14.51. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.08. The stock has a 50 day simple moving average of $10.91 and a 200-day simple moving average of $11.83. The stock has a market cap of $372.28 million, a PE ratio of 19.33 and a beta of 0.94.

Shore Bancshares (NASDAQ:SHBI) last issued its earnings results on Wednesday, January 31st. The bank reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. Shore Bancshares had a return on equity of 7.55% and a net margin of 5.66%. The business had revenue of $49.15 million during the quarter, compared to analysts’ expectations of $51.20 million. On average, sell-side analysts predict that Shore Bancshares will post 1.49 EPS for the current fiscal year.

Insider Buying and Selling

In other Shore Bancshares news, Director Dawn M. Willey bought 10,000 shares of the stock in a transaction on Tuesday, February 13th. The stock was purchased at an average price of $11.02 per share, with a total value of $110,200.00. Following the acquisition, the director now owns 17,500 shares of the company’s stock, valued at $192,850. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Dawn M. Willey purchased 10,000 shares of the stock in a transaction dated Tuesday, February 13th. The stock was bought at an average cost of $11.02 per share, with a total value of $110,200.00. Following the purchase, the director now directly owns 17,500 shares in the company, valued at approximately $192,850. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David S. Jones purchased 8,043 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was purchased at an average price of $11.01 per share, for a total transaction of $88,553.43. Following the completion of the transaction, the director now directly owns 35,235 shares in the company, valued at $387,937.35. The disclosure for this purchase can be found here. Insiders acquired a total of 19,121 shares of company stock valued at $211,067 over the last ninety days. Insiders own 8.57% of the company’s stock.

Institutional Trading of Shore Bancshares

Several hedge funds have recently added to or reduced their stakes in the business. Heritage Wealth Advisors acquired a new position in shares of Shore Bancshares in the 3rd quarter valued at approximately $53,000. New York State Common Retirement Fund lifted its stake in Shore Bancshares by 79.6% in the third quarter. New York State Common Retirement Fund now owns 9,235 shares of the bank’s stock valued at $97,000 after buying an additional 4,094 shares in the last quarter. Signature Estate & Investment Advisors LLC bought a new position in Shore Bancshares in the third quarter valued at approximately $122,000. Raymond James & Associates bought a new position in Shore Bancshares in the third quarter valued at approximately $124,000. Finally, SG Americas Securities LLC bought a new position in Shore Bancshares in the third quarter valued at approximately $134,000. Institutional investors and hedge funds 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.