Today’s Stock On Watch: What’s Next for Shore Bancshares, Inc. After Reaching 52-Week High?

Today's Stock On Watch: What's Next for Shore Bancshares, Inc. After Reaching 52 Week High?

The stock of Shore Bancshares, Inc. (NASDAQ:SHBI) hit a new 52-week high and has $29.12 target or 124.00% above today’s $13.00 share price. The 6 months bullish chart indicates low risk for the $159.46 million company. The 1-year high was reported on Nov, 7 by Barchart.com. If the $29.12 price target is reached, the company will be worth $197.73 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 32,096 shares traded hands or 56.76% up from the average. Shore Bancshares, Inc. (NASDAQ:SHBI) has risen 1.77% since April 5, 2016 and is uptrending. It has underperformed by 0.19% the S&P500.

According to Zacks Investment Research, “Shore Bancshares, Inc. is a bank holding company. The Company engages in the business of banking through its two subsidiaries, The Centreville National Bank of Maryland and The Talbot Bank of Easton, Maryland.”

Insitutional Activity: The institutional sentiment decreased to 1.89 in 2016 Q2. Its down 0.28, from 2.17 in 2016Q1. The ratio turned negative, as 10 funds sold all Shore Bancshares, Inc. shares owned while 9 reduced positions. 17 funds bought stakes while 19 increased positions. They now own 7.66 million shares or 5.61% more from 7.25 million shares in 2016Q1.
Blackrock holds 0% or 308 shares in its portfolio. Morgan Stanley holds 91,410 shares or 0% of its portfolio. Tower Research Cap Limited Liability Company (Trc) holds 0% of its portfolio in Shore Bancshares, Inc. (NASDAQ:SHBI) for 1,886 shares. Mendon Advisors holds 0.52% or 425,397 shares in its portfolio. Thompson Davis And Incorporated last reported 2,150 shares in the company. Nationwide Fund Advsrs holds 0% of its portfolio in Shore Bancshares, Inc. (NASDAQ:SHBI) for 12,135 shares. Gilman Hill Asset Mngmt Llc reported 58,337 shares or 0.28% of all its holdings. Summit Securities Grp Ltd Liability holds 0.19% of its portfolio in Shore Bancshares, Inc. (NASDAQ:SHBI) for 30,600 shares. Federated Pa owns 767 shares or 0% of their US portfolio. Panagora Asset Mgmt Incorporated holds 0% or 10,111 shares in its portfolio. Moreover, Bnp Paribas Arbitrage has 0% invested in Shore Bancshares, Inc. (NASDAQ:SHBI) for 496 shares. Tiaa Cref Ltd Limited Liability Company, a New York-based fund reported 37,819 shares. Dimensional Fund Advsr Limited Partnership reported 173,694 shares or 0% of all its holdings. Rhumbline Advisers has 10,112 shares for 0% of their US portfolio. Strs Ohio holds 27,300 shares or 0% of its portfolio.

Insider Transactions: Since July 29, 2016, the stock had 2 insider buys, and 0 selling transactions for $35,206 net activity. SPURRY CHRISTOPHER F had bought 1,000 shares worth $11,820. BEATTY LLOYD L JR also bought $23,386 worth of Shore Bancshares, Inc. (NASDAQ:SHBI) on Tuesday, August 2.

More important recent Shore Bancshares, Inc. (NASDAQ:SHBI) news were published by: Prnewswire.com which released: “Shore Bancshares, Inc. Reports Quarterly Dividend of $0.05 Per Share” on November 03, 2016, also Marketwatch.com published article titled: “Shore Bancshares downgraded to neutral from outperform t Boenning & Scattergood”, Prnewswire.com published: “Shore Bancshares Reports Third Quarter and Nine-Month Results” on October 20, 2016. More interesting news about Shore Bancshares, Inc. (NASDAQ:SHBI) was released by: Prnewswire.com and their article: “Shore Bancshares Announces Consolidation of Banking Subsidiaries and Unified …” with publication date: July 01, 2016.

SHBI Company Profile

Shore Bancshares, Inc., incorporated on March 15, 1996, is a financial holding company. The Firm acts as the parent firm to several financial institution and insurance entities. The Firm has two business divisions: Community Banking, and Insurance Products and Services. The Company’s Community Banking segment provides services to clients and small businesses on the Eastern Shore of Maryland and in Delaware. The Firm is engaged in the banking business through CNB, a Maryland commercial bank with trust powers and The Talbot Bank of Easton, a Maryland commercial bank (the Banks). The Company’s Insurance Products and Services segment provides a range of insurance services and products to businesses and clients in the Company’s market areas. The Firm is engaged in the insurance business through an insurance producer, The Avon-Dixon Agency, LLC, a Maryland limited liability company, with approximately two specialty lines, trading as Elliot Wilson Insurance (Trucking) and Jack Martin & Associates (Marine), as well as an insurance premium finance company, Mubell Finance, LLC (collectively Insurance Subsidiaries). The Banks operate approximately 20 full service branches and 20 automated teller machines (ATMs). The Banks provide a range of commercial and consumer banking services and products to individuals, businesses, and other organizations in Kent County, Queen Anne’s County, Caroline County, Talbot County and Dorchester County in Maryland and in Kent County, Delaware.

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