ValuEngine Upgrades Shore Bancshares (NASDAQ:SHBI) to “Hold”

Shore Bancshares (NASDAQ:SHBI) was upgraded by stock analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Monday, April 29th, ValuEngine reports.

Separately, Keefe, Bruyette & Woods cut shares of Shore Bancshares from an “outperform” rating to a “market perform” rating in a research note on Monday, February 4th.

NASDAQ SHBI traded up $0.39 during trading hours on Monday, reaching $15.93. The company’s stock had a trading volume of 8,474 shares, compared to its average volume of 21,886. The stock has a market cap of $198.59 million, a price-to-earnings ratio of 8.34 and a beta of 0.49. Shore Bancshares has a fifty-two week low of $12.95 and a fifty-two week high of $20.08. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.10.

Several hedge funds have recently made changes to their positions in SHBI. EJF Capital LLC raised its holdings in Shore Bancshares by 39.4% in the fourth quarter. EJF Capital LLC now owns 348,689 shares of the bank’s stock valued at $5,070,000 after buying an additional 98,634 shares during the period. Gilman Hill Asset Management LLC purchased a new position in Shore Bancshares in the fourth quarter valued at approximately $774,000. BlackRock Inc. raised its holdings in Shore Bancshares by 4.4% in the third quarter. BlackRock Inc. now owns 816,009 shares of the bank’s stock valued at $14,541,000 after buying an additional 34,557 shares during the period. Dimensional Fund Advisors LP raised its holdings in Shore Bancshares by 6.6% in the third quarter. Dimensional Fund Advisors LP now owns 423,040 shares of the bank’s stock valued at $7,538,000 after buying an additional 26,286 shares during the period. Finally, Municipal Employees Retirement System of Michigan purchased a new position in Shore Bancshares in the fourth quarter valued at approximately $563,000. Institutional investors and hedge funds own 67.00% of the company’s stock.

About Shore Bancshares

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

See Also: Cash Flow

To view ValuEngine’s full report, visit ValuEngine’s official website.

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