Shore Bancshares Inc. [SHBI] Revenue clocked in at $79.20 million, down -7.00% YTD: What’s Next?

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Shore Bancshares Inc. [NASDAQ: SHBI] stock went on a downward path that fall over -0.26% on Friday, amounting to a one-week price decrease of less than -2.32%. The company report on April 28, 2022 that Shore Bancshares Reports First Quarter 2022 Financial Results.


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Shore Bancshares, Inc. (NASDAQ – SHBI) (the “Company”) reported net income of $5.613 million or $0.28 per diluted common share for the first quarter of 2022, compared to net income of $2.723 million or $0.16 per diluted common share for the fourth quarter of 2021, and net income of $3.998 million or $0.34 per diluted common share for the first quarter of 2021. Net income, excluding merger related expenses for the first quarter of 2022 was $6.156 million or $0.31 per diluted common share, compared to net income, excluding merger related expenses of $7.914 million or $0.46 per diluted common share for the fourth quarter of 2021.

When comparing net income, excluding merger related expenses, for the first quarter of 2022 to the fourth quarter of 2021, net income decreased $1.8 million, primarily due increases in noninterest expenses of $3.7 million and provision for credit losses of $2.3 million, partially offset by increases in net interest income of $1.8 million and noninterest income of $917 thousand. When comparing net income, excluding merger related expenses, for the first quarter of 2022 to the first quarter of 2021, net income increased $2.4 million, primarily due to increases in net interest income of $8.6 million and noninterest income of $3.5 million, partially offset by an increase in noninterest expenses of $9.1 million.

Over the last 12 months, SHBI stock rose by 18.52%. The one-year Shore Bancshares Inc. stock forecast points to a potential upside of 15.7. The average equity rating for SHBI stock is currently 2.00, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $385.86 million, with 19.83 million shares outstanding and 17.55 million shares in the current float. Compared to the average trading volume of 72.02K shares, SHBI stock reached a trading volume of 87155 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Shore Bancshares Inc. [SHBI]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SHBI shares is $23.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SHBI stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Piper Sandler have made an estimate for Shore Bancshares Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on November 04, 2021. While these analysts kept the previous recommendation, Keefe Bruyette raised their target price from $15 to $20. The new note on the price target was released on March 08, 2021, representing the official price target for Shore Bancshares Inc. stock.

The Average True Range (ATR) for Shore Bancshares Inc. is set at 0.49, with the Price to Sales ratio for SHBI stock in the period of the last 12 months amounting to 4.87. The Price to Book ratio for the last quarter was 1.09, with the Price to Cash per share for the same quarter was set at 28.76. Price to Free Cash Flow for SHBI in the course of the last twelve months was 154.34.

SHBI Stock Performance Analysis:

Shore Bancshares Inc. [SHBI] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.32. With this latest performance, SHBI shares dropped by -0.26% in over the last four-week period, additionally sinking by -2.86% over the last 6 months – not to mention a rise of 18.52% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SHBI stock in for the last two-week period is set at 40.84, with the RSI for the last a single of trading hit 36.92, and the three-weeks RSI is set at 42.90 for Shore Bancshares Inc. [SHBI]. The present Moving Average for the last 50 days of trading for this stock 19.88, while it was recorded at 19.44 for the last single week of trading, and 19.66 for the last 200 days.

SHBI Stock EPS

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SHBI. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Shore Bancshares Inc. go to 10.00%.

Shore Bancshares Inc. [SHBI] Insider Position Details

There are presently around $223 million, or 59.50% of SHBI stock, in the hands of institutional investors. The top three institutional holders of SHBI stocks are: FJ CAPITAL MANAGEMENT LLC with ownership of 1,964,159, which is approximately 28.882% of the company’s market cap and around 6.80% of the total institutional ownership; FOURTHSTONE LLC, holding 1,449,684 shares of the stock with an approximate value of $28.11 million in SHBI stocks shares; and VANGUARD GROUP INC, currently with $14.79 million in SHBI stock with ownership of nearly 0.399% of the company’s market capitalization.

Positions in Shore Bancshares Inc. stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 50 institutional holders increased their position in Shore Bancshares Inc. [NASDAQ:SHBI] by around 1,264,292 shares. Additionally, 25 investors decreased positions by around 956,013 shares, while 18 investors held positions by with 9,289,355 shares. The mentioned changes placed institutional holdings at 11,509,660 shares, according to the latest SEC report filing. SHBI stock had 17 new institutional investments in for a total of 258,789 shares, while 5 institutional investors sold positions of 321,985 shares during the same period.

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