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

Shore Bancshares

03/05/2024 24:24

* Shore Bancshares Inc  SHBI.OQ  reported quarterly adjusted
earnings of 25 cents​​ per share for the quarter ended in March,
lower than the same quarter last year, when the company reported
EPS of 32 cents.  The mean expectation of three analysts for the
quarter was for earnings of 32 cents per share. Wall Street
expected results to range from 31 cents to 34 cents per share.
    * Revenue rose 67.9% to $43.08 million from a year ago;
analysts
expected $42.19 million. 
    * Shore Bancshares Inc's reported EPS for the quarter was 25
cents​.
    * The company reported quarterly net income of $8.18
million.
    * Shore Bancshares Inc shares had fallen by 8.3% this
quarter and
lost 26.0% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 4% 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 2 "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 $14.00 
This summary was machine generated from LSEG data May 2 at 11:24
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
 Mar. 31 2024      0.32           0.25           Missed
 Dec. 31 2023      0.35           0.32           Missed
 Sep. 30 2023      0.34           -0.19          Missed
 Jun. 30 2023      0.31           0.20           Missed