Shore Bancshares rises after KBW upgrades to 'outperform'

Shore Bancshares

04/12/2024 19:15

** Regional lender Shore Bancshares'  SHBI.O  stock rises as
much as 5.4%; last up 4.7% at $17.37
    ** KBW upgrades company's shares to "outperform" from
"market perform"; raises PT to $20 from $16, a 20.6% upside to
stock's last close
    ** Brokerage says SHBI shares still trade at a discount to
its peers even after the recent bank rally
    ** 2025 will likely be a turning point in SHBI's story with
improved growth and potential for further upside in M&A -
brokerage
    ** KBW believes there are a number of buyers who would be
interested in the bank given SHBI now has enhanced scarcity
value in Maryland after the $1.6 bln sale of Sandy Spring
 SASR.O  to Atlantic Union Bankshares  AUB.N 
    ** As of last close, SHBI shares up 16.4% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com))