A new trading day began on Friday, with Shore Bancshares Inc. (NASDAQ: SHBI) stock price up 4.09% from the previous day of trading, before settling in for the closing price of $11.00. SHBI’s price has ranged from $9.66 to $14.51 over the past 52 weeks.
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Over the past five-year period, the growth rate of yearbook sales for the company of the Financial sector was 33.11%. Meanwhile, its annual earnings per share averaged 214.29%. With a float of $29.74 million, this company’s outstanding shares have now reached $33.16 million.
Considering the fact that the conglomerate employs 630 people, you should pay attention to its efficiency factor.
Shore Bancshares Inc. (SHBI) Insider Activity
As we move forward, let’s examine how large-scale investors are investing in this stock of the Banks – Regional Industry. The insider ownership of Shore Bancshares Inc. is 10.49%, while institutional ownership is 52.86%. The most recent insider transaction that took place on Jun 04 ’24, was worth 6,581. In this transaction Director of this company bought 605 shares at a rate of $10.88, taking the stock ownership to the 61,675 shares. Before that another transaction happened on May 09 ’24, when Company’s Director bought 5,000 for $11.19, making the entire transaction worth $55,975. This insider now owns 23,888 shares in total.
Shore Bancshares Inc. (SHBI) Earnings and Forecasts
In its latest quarterly report, released on 3/31/2024, the company reported earnings of 0.2 per share, which was $0.1 lower than the consensus estimate of $0.26. In terms of return on equity, this company recorded -19.55% in contrast with 50.0% return on Investment (trailing twelve months). Wall Street market experts anticipate that the next fiscal year will bring earnings of 0.36 per share during the current fiscal year.
According to the Wall Street analysts, stocks earnings will be around 214.29% per share during the next fiscal year. For the long-term projections, market analysts anticipate that the company’s EPS will surge by 10.00% during the next five years compared to -26.43% drop over the previous five years of trading.
Shore Bancshares Inc. (NASDAQ: SHBI) Trading Performance Indicators
Here are Shore Bancshares Inc.’s current performance indicators. In addition, a publicly-traded company’s price to sales ratio for the trailing twelve months stands at 1.32.
For the trailing twelve months, Company’s Diluted EPS (Earnings per Share) is 0.57, a number that is poised to hit 0.33 in the next quarter and is forecasted to reach 1.56 in one year’s time.
Technical Analysis of Shore Bancshares Inc. (SHBI)
Compared to the last year’s volume of 83588.0, its volume of 0.23 million showed improvement in the last five days. As of the previous 9 days, the stock’s Stochastic %D was 88.43%. Additionally, its Average True Range was 0.30.
During the past 100 days, Shore Bancshares Inc.’s (SHBI) raw stochastic average was set at 62.61%, which indicates a significant decrease from 91.60% during the past two weeks. Based on volatility metrics of the stock, it showed a historical volatility of 28.88% in the past 14 days, which was higher than the 27.39% volatility it showed in the past 100 days.
At the time of writing, stock’s 50-day Moving Average is $10.91, while its 200-day Moving Average is $11.49. Nevertheless, the first resistance level for the watch stands at $11.64 in the near term. At $11.82, the stock is likely to face the second major resistance level. The third major resistance level sits at $12.10. If the price goes on to break the first support level at $11.18, it is likely to go to the next support level at $10.90. Should the price break the second support level, the third support level stands at $10.72.
Shore Bancshares Inc. (NASDAQ: SHBI) Key Stats
With a market capitalization of 380.37 million, the company has a total of 33,224K Shares Outstanding. Currently, annual sales are 247,240 K while annual income is 11,230 K. The company’s previous quarter sales were 77,710 K while its latest quarter income was 8,180 K.
