Stock of The Day: What Next for Shore Bancshares, Inc. Stock After Making 52-Week High?

Stock of The Day: What Next for Shore Bancshares, Inc. Stock After Making 52 Week High?

The stock of Shore Bancshares, Inc. (NASDAQ:SHBI) hit a new 52-week high and has $14.72 target or 5.00% above today’s $14.02 share price. The 9 months bullish chart indicates low risk for the $176.93 million company. The 1-year high was reported on Nov, 25 by Barchart.com. If the $14.72 price target is reached, the company will be worth $8.85 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock decreased 0.21% or $0.03 during the last trading session, hitting $14.02. About 25,904 shares traded hands. Shore Bancshares, Inc. (NASDAQ:SHBI) has risen 20.50% since April 22, 2016 and is uptrending. It has outperformed by 15.09% the S&P500.

Analysts await Shore Bancshares, Inc. (NASDAQ:SHBI) to report earnings on January, 19. They expect $0.18 EPS, up 5.88% or $0.01 from last year’s $0.17 per share. SHBI’s profit will be $2.27 million for 19.47 P/E if the $0.18 EPS becomes a reality. After $0.19 actual EPS reported by Shore Bancshares, Inc. for the previous quarter, Wall Street now forecasts -5.26% negative EPS growth.

According to Zacks Investment Research, “Shore Bancshares, Inc. is a bank holding company. The Company engages in the business of banking through its two subsidiaries, The Centreville National Bank of Maryland and The Talbot Bank of Easton, Maryland.”

Insitutional Activity: The institutional sentiment increased to 2.27 in Q2 2016. Its up 0.38, from 1.89 in 2016Q1. The ratio improved, as 10 funds sold all Shore Bancshares, Inc. shares owned while 9 reduced positions. 17 funds bought stakes while 19 increased positions. They now own 7.66 million shares or 5.61% more from 7.25 million shares in 2016Q1.
Northern Tru accumulated 124,906 shares or 0% of the stock. Stifel Fincl accumulated 0% or 29,949 shares. Geode Management Limited Liability Corporation has 59,650 shares for 0% of their US portfolio. Blackrock Institutional Na has invested 0% of its portfolio in Shore Bancshares, Inc. (NASDAQ:SHBI). Kennedy Mgmt Inc, a Missouri-based fund reported 28,653 shares. Basswood Mgmt Ltd Liability holds 0.38% of its portfolio in Shore Bancshares, Inc. (NASDAQ:SHBI) for 563,800 shares. Savings Bank Of New York Mellon accumulated 39,193 shares or 0% of the stock. Elizabeth Park Cap Limited has invested 1.3% of its portfolio in Shore Bancshares, Inc. (NASDAQ:SHBI). Moreover, Pnc Fincl Ser Grp Inc has 0% invested in Shore Bancshares, Inc. (NASDAQ:SHBI) for 139,438 shares. Renaissance Technologies Lc last reported 0% of its portfolio in the stock. Amer Interest Gp Inc, a New York-based fund reported 7,219 shares. Globeflex Capital L P has invested 0% of its portfolio in Shore Bancshares, Inc. (NASDAQ:SHBI). The Maryland-based Corbyn Inv Incorporated Md has invested 0.85% in Shore Bancshares, Inc. (NASDAQ:SHBI). The Massachusetts-based Rhumbline Advisers has invested 0% in Shore Bancshares, Inc. (NASDAQ:SHBI). Strs Ohio accumulated 27,300 shares or 0% of the stock.

Insider Transactions: Since July 29, 2016, the stock had 2 insider purchases, and 0 sales for $35,206 net activity. Shares for $11,820 were bought by SPURRY CHRISTOPHER F. BEATTY LLOYD L JR bought 2,000 shares worth $23,386.

More important recent Shore Bancshares, Inc. (NASDAQ:SHBI) news were published by: Marketwatch.com which released: “Shore Bancshares downgraded to neutral from outperform t Boenning & Scattergood” on April 18, 2011, also Prnewswire.com published article titled: “Shore Bancshares Announces Consolidation of Banking Subsidiaries and Unified …”, Nasdaq.com published: “Shore Bancshares Inc (SHBI) Ex-Dividend Date Scheduled for November 09, 2016” on November 08, 2016. More interesting news about Shore Bancshares, Inc. (NASDAQ:SHBI) was released by: Prnewswire.com and their article: “Shore Bancshares Reports Third Quarter and Nine-Month Results” with publication date: October 20, 2016.

SHBI Company Profile

Shore Bancshares, Inc., incorporated on March 15, 1996, is a financial holding company. The Firm acts as the parent firm to several financial institution and insurance entities. The Firm has two business divisions: Community Banking, and Insurance Products and Services. The Company’s Community Banking segment provides services to clients and small businesses on the Eastern Shore of Maryland and in Delaware. The Firm is engaged in the banking business through CNB, a Maryland commercial bank with trust powers and The Talbot Bank of Easton, a Maryland commercial bank (the Banks). The Company’s Insurance Products and Services segment provides a range of insurance services and products to businesses and clients in the Company’s market areas. The Firm is engaged in the insurance business through an insurance producer, The Avon-Dixon Agency, LLC, a Maryland limited liability company, with approximately two specialty lines, trading as Elliot Wilson Insurance (Trucking) and Jack Martin & Associates (Marine), as well as an insurance premium finance company, Mubell Finance, LLC (collectively Insurance Subsidiaries). The Banks operate approximately 20 full service branches and 20 automated teller machines (ATMs). The Banks provide a range of commercial and consumer banking services and products to individuals, businesses, and other organizations in Kent County, Queen Anne’s County, Caroline County, Talbot County and Dorchester County in Maryland and in Kent County, Delaware.

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