Shore Bancshares Inc. (SHBI) Scheduled to Post Quarterly Earnings on Thursday
Shore Bancshares Inc. (NASDAQ:SHBI) is scheduled to issue its quarterly earnings data after the market closes on Thursday, October 20th. Analysts expect the company to announce earnings of $0.18 per share for the quarter.
Shore Bancshares (NASDAQ:SHBI) last issued its quarterly earnings data on Thursday, July 21st. The company reported $0.18 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.01. Shore Bancshares had a net margin of 15.74% and a return on equity of 5.92%. On average, analysts expect Shore Bancshares to post $0.73 EPS for the current fiscal year and $0.85 EPS for the next fiscal year.
Shares of Shore Bancshares Inc. (NASDAQ:SHBI) opened at 11.79 on Wednesday. The firm has a market cap of $149.28 million, a P/E ratio of 17.09 and a beta of 0.52. Shore Bancshares Inc. has a 12 month low of $9.49 and a 12 month high of $12.59. The firm has a 50-day moving average of $11.74 and a 200 day moving average of $11.67.
Separately, Zacks Investment Research lowered Shore Bancshares from a “buy” rating to a “hold” rating in a research report on Thursday, June 23rd.
A number of large investors have recently made changes to their positions in SHBI. Nationwide Fund Advisors purchased a new stake in shares of Shore Bancshares during the second quarter valued at about $143,000. Dimensional Fund Advisors LP raised its stake in shares of Shore Bancshares by 16.5% in the second quarter. Dimensional Fund Advisors LP now owns 173,694 shares of the company’s stock valued at $2,041,000 after buying an additional 24,604 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Shore Bancshares by 9.7% in the second quarter. Vanguard Group Inc. now owns 415,062 shares of the company’s stock valued at $4,877,000 after buying an additional 36,690 shares in the last quarter. BlackRock Investment Management LLC raised its stake in shares of Shore Bancshares by 2,344.9% in the second quarter. BlackRock Investment Management LLC now owns 49,925 shares of the company’s stock valued at $587,000 after buying an additional 47,883 shares in the last quarter. Finally, BlackRock Fund Advisors raised its stake in shares of Shore Bancshares by 938.3% in the second quarter. BlackRock Fund Advisors now owns 327,986 shares of the company’s stock valued at $3,854,000 after buying an additional 296,396 shares in the last quarter. Hedge funds and other institutional investors own 60.51% of the company’s stock.
Shore Bancshares Company Profile
Shore Bancshares, Inc is a financial holding company. The Company acts as the parent company to several financial institution and insurance entities. The Company has two business segments: Community Banking, and Insurance Products and Services. Its Community Banking segment provides services to consumers and small businesses on the Eastern Shore of Maryland and in Delaware.
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