Shore Bancshares (NASDAQ:SHBI) cut to “sell” at Zacks Investment Research

Shore Bancshares (NASDAQ: SHBI – Get a Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note released Wednesday to investors, reports.

According to Zacks, “Shore Bancshares, Inc. is a bank holding company. The Company is engaged in banking business through its two subsidiaries, The Centerville National Bank of Maryland and The Talbot Bank of Easton, Maryland. “

Separately, launched coverage on Shore Bancshares in a research report on Thursday, March 31. They set a “holding” rating for the company.

Shares on the NASDAQ SHBI opened at $20.23 on Wednesday. The company has a debt ratio of 0.15, a current ratio of 0.90 and a quick ratio of 0.89. Shore Bancshares has a 1-year low of $16.25 and a 1-year high of $23.19. The company has a 50-day moving average of $19.98 and a 200-day moving average of $20.21. The company has a market capitalization of $401.42 million, a price-earnings ratio of 17.29 and a beta of 0.87.

Shore Bancshares (NASDAQ:SHBI – Get Rating) last released its quarterly earnings data on Thursday, April 28. The bank reported EPS of $0.31 for the quarter, missing analyst consensus estimates of $0.33 per ($0.02). The company posted revenue of $28.52 million for the quarter. Shore Bancshares had a net margin of 17.67% and a return on equity of 6.53%. Research analysts expect Shore Bancshares to post EPS of 1.55 for the current fiscal year.

Institutional investors have recently changed their positions in the company. BHZ Capital Management LP increased its holdings in Shore Bancshares by 12.0% in the fourth quarter. BHZ Capital Management LP now owns 108,668 shares in the bank worth $2,266,000 after buying an additional 11,615 shares last quarter. Qube Research & Technologies Ltd acquired a new equity position in Shore Bancshares during the fourth quarter worth approximately $514,000. Arrowstreet Capital Limited Partnership increased its stake in Shore Bancshares by 2.3% during the third quarter. Arrowstreet Capital Limited Partnership now owns 91,623 shares of the bank valued at $1,624,000 after buying 2,100 additional shares in the last quarter. Dimensional Fund Advisors LP increased its position in Shore Bancshares by 2.1% during the third quarter. Dimensional Fund Advisors LP now owns 613,463 shares of the bank worth $10,877,000 after buying an additional 12,525 shares in the last quarter. Finally, Maltese Capital Management LLC increased its position in shares of Shore Bancshares by 46.7% during the third quarter. Maltese Capital Management LLC now owns 124,656 shares of the bank valued at $2,210,000 after purchasing an additional 39,656 shares during the period. Institutional investors and hedge funds hold 56.21% of the company’s shares.

Shore Bancshares Company Profile (Get a rating)

Shore Bancshares, Inc operates as a bank holding company for Shore United Bank which provides various commercial and consumer banking products and services to individuals, businesses and other organizations. It offers checking, savings, overnight investment, and money market accounts; and regular and IRA certificates of deposit, as well as CDARS programs and cash management services.

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