Shore Bancshares Inc reports results for the quarter ended in June - Earnings Summary

Shore Bancshares

25/07/2024 18:02

* Shore Bancshares Inc  SHBI.OQ  reported quarterly adjusted
earnings of 34 cents​​ per share for the quarter ended in June,
higher than the same quarter last year, when the company
reported EPS of 20 cents.  The mean expectation of two analysts
for the quarter was for earnings of 33 cents per share. Wall
Street expected results to range from 32 cents to 34 cents per
share.
    * Revenue rose 87.3% to $42.14 million from a year ago;
analysts
expected $41.77 million. 
    * Shore Bancshares Inc's reported EPS for the quarter was 34
cents​.
    * The company reported quarterly net income of $11.23
million.
    * Shore Bancshares Inc shares had risen by 20.3% this
quarter and
lost 3.4% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 3.9%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 1 "strong buy" or "buy," 1
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the banks peer
group is
also "buy"

Wall Street's median 12-month price target for Shore Bancshares
Inc is $12.75 
This summary was machine generated from LSEG data July 25 at
05:02 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      0.33           0.34           Beat
 Mar. 31 2024      0.32           0.25           Missed
 Dec. 31 2023      0.35           0.32           Missed
 Sep. 30 2023      0.34           -0.19          Missed