Third Quarter 2022 EPS Estimates for Shore Bancshares, Inc. (NASDAQ:SHBI) Raised by Analyst
Shore Bancshares, Inc. (NASDAQ:SHBI) – Investment analysts Piper Sandler raised their third quarter 2022 earnings estimates for shares of Shore Bancshares in a note to investors on Wednesday, February 16. Piper Sandler analyst C. Whitman now expects the bank to post earnings per share of $0.42 for the quarter, up from its previous forecast of $0.41. Piper Sandler currently has an “overweight” rating and a target price of $22.00 on the stock. Piper Sandler also released estimates for Shore Bancshares Q4 2022 earnings at $0.44 EPS, FY2022 earnings at $1.57 EPS, Q1 2023 earnings at $0.40 EPS, Q2 2023 earnings at $0.45 EPS and FY2023 earnings at $1.82 EPS.
SHBI has been the subject of a number of other research reports. StockNews.com moved the shares of Shore Bancshares from a “hold” rating to a “buy” rating in a Friday, Feb. 11 research report. Zacks Investment Research downgraded shares of Shore Bancshares from a “buy” rating to a “hold” rating in a report on Wednesday.
NASDAQ SHBI traded at $0.01 during Friday trading hours, hitting $21.11. 785 shares of the company were traded, compared to its average volume of 36,578. The company’s 50-day moving average is $20.28 and its 200-day moving average is $19.01. Shore Bancshares has a 52-week low of $14.30 and a 52-week high of $23.19. The company has a debt ratio of 0.14, a current ratio of 0.89 and a quick ratio of 0.89. The company has a market capitalization of $418.10 million, a PE ratio of 15.18 and a beta of 0.99. Shore Bancshares (NASDAQ:SHBI) last released its quarterly results on Sunday, February 13. The bank reported EPS of $0.51 for the quarter, beating the consensus estimate of $0.37 by $0.14. Shore Bancshares had a net margin of 22.14% and a return on equity of 8.60%.
The company also recently announced a quarterly dividend, which will be paid on Monday, March 7. Shareholders of record on Thursday, February 24 will receive a dividend of $0.12. The ex-dividend date is Wednesday, February 23. This represents a dividend of $0.48 on an annualized basis and a dividend yield of 2.27%. Shore Bancshares payout ratio is 34.53%.
Institutional investors and hedge funds have recently changed their positions in the company. Advisor Group Holdings Inc. acquired a new equity stake in Shore Bancshares in Q4 worth $41,000. JPMorgan Chase & Co. acquired a new stake in Shore Bancshares during Q4 for $76,000. Royal Bank of Canada increased its stake in Shore Bancshares by 37.8% during the second quarter. Royal Bank of Canada now owns 10,976 shares of the bank worth $184,000 after acquiring 3,008 more shares last quarter. Citigroup Inc. acquired a new stake in Shore Bancshares during the 4th quarter at a value of $194,000. Finally, Kessler Investment Group LLC acquired a new stake in Shore Bancshares during the 4th quarter for a value of $242,000. Institutional investors and hedge funds hold 43.80% of the company’s shares.
About Shore Bancshares
Shore Bancshares, Inc is a financial holding company that provides commercial banking products and services to individuals and businesses. Its services include checking accounts, various savings programs, mortgages, home improvement loans, installment and other personal loans, credit cards, personal lines of credit, financing automotive and other consumer financing, safe deposit boxes, debit cards, 24-hour telephone banking, Internet banking, mobile banking, and 24-hour ATMs.
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