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

Piper Sandler began coverage on shares of Shore Bancshares (NASDAQ:SHBI) in a report released on Thursday,Briefing.com Automated Import reports. The brokerage set an “overweight” rating and a $20.00 price target on the bank’s stock. Piper Sandler’s price objective suggests a potential upside of 23.00% from the company’s current price.

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

Shore Bancshares Stock Up 1.2 %

SHBI stock opened at $16.26 on Thursday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.94 and a quick ratio of 0.93. Shore Bancshares has a 1-year low of $10.06 and a 1-year high of $17.61. The firm has a fifty day moving average price of $16.04 and a two-hundred day moving average price of $14.91. The firm has a market cap of $541.95 million, a price-to-earnings ratio of 12.23 and a beta of 0.97.

Shore Bancshares (NASDAQ:SHBI) last released its quarterly earnings results 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%. Research analysts predict that Shore Bancshares will post 1.46 EPS for the current year.

Insider Transactions at Shore Bancshares

In related news, Director Konrad Wayson bought 3,000 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was purchased at an average price of $16.94 per share, for a total transaction of $50,820.00. Following the transaction, the director now directly owns 53,266 shares of the company’s stock, valued at approximately $902,326.04. This represents a 5.97 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 8.57% of the company’s stock.

Hedge Funds Weigh In On Shore Bancshares

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Fourthstone LLC grew its position in Shore Bancshares by 1.7% in the 3rd quarter. Fourthstone LLC now owns 3,329,922 shares of the bank’s stock valued at $46,586,000 after buying an additional 54,679 shares in the last quarter. Geode Capital Management LLC grew its position in Shore Bancshares by 1.9% in the 3rd 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 in the last quarter. State Street Corp grew its position in Shore Bancshares by 8.5% in the 3rd quarter. State Street Corp now owns 537,140 shares of the bank’s stock valued at $7,515,000 after buying an additional 41,971 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its position in Shore Bancshares by 1.0% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 269,375 shares of the bank’s stock valued at $3,769,000 after buying an additional 2,700 shares in the last quarter. Finally, Curi RMB Capital LLC grew its position in Shore Bancshares by 13.8% in the 3rd quarter. Curi RMB Capital LLC now owns 175,164 shares of the bank’s stock valued at $2,451,000 after buying an additional 21,191 shares in the last quarter. 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.