Shore Bancshares (NASDAQ:SHBI) Rating Lowered to “Hold” at Wall Street Zen

Shore Bancshares (NASDAQ:SHBI) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

SHBI has been the subject of a number of other reports. Zacks Research downgraded Shore Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 26th. Weiss Ratings restated a “hold (c+)” rating on shares of Shore Bancshares in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $20.00.

Shore Bancshares Trading Down 0.1%

Shares of SHBI stock opened at $15.75 on Friday. Shore Bancshares has a 12-month low of $11.47 and a 12-month high of $17.67. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.22. The firm’s 50 day moving average is $16.53 and its 200 day moving average is $15.47. The stock has a market capitalization of $526.37 million, a P/E ratio of 9.26 and a beta of 1.10.

Shore Bancshares (NASDAQ:SHBI) last issued its earnings results on Monday, September 19th. The bank reported $0.37 earnings per share (EPS) for the quarter. Shore Bancshares had a net margin of 16.78% and a return on equity of 11.37%. The company had revenue of $16.91 million for the quarter. Research analysts expect that Shore Bancshares will post 1.59 earnings per share for the current year.

Insider Activity

In related news, Director Michael Brian Adams acquired 10,000 shares of the business’s stock in a transaction that occurred on Friday, August 1st. The stock was bought at an average cost of $15.00 per share, for a total transaction of $150,000.00. Following the purchase, the director owned 44,912 shares in the company, valued at $673,680. The trade was a 28.64% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 8.57% of the company’s stock.

Institutional Trading of Shore Bancshares

Institutional investors and hedge funds have recently modified their holdings of the company. IFP Advisors Inc raised its position in shares of Shore Bancshares by 31,320.0% during the 2nd quarter. IFP Advisors Inc now owns 1,571 shares of the bank’s stock valued at $25,000 after purchasing an additional 1,566 shares during the period. EverSource Wealth Advisors LLC bought a new stake in shares of Shore Bancshares during the 2nd quarter valued at $31,000. PNC Financial Services Group Inc. raised its position in shares of Shore Bancshares by 108.4% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,020 shares of the bank’s stock valued at $47,000 after purchasing an additional 1,571 shares during the period. Financial Consulate Inc. bought a new stake in shares of Shore Bancshares during the 3rd quarter valued at $71,000. Finally, Tower Research Capital LLC TRC raised its position in shares of Shore Bancshares by 239.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,500 shares of the bank’s stock valued at $71,000 after purchasing an additional 3,173 shares during the period. 59.76% of the stock is currently owned by institutional investors.

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.