Notable News Spotlight: Shore Bancshares (NASDAQ -SHBI)

Shore Bancshares (NASDAQ -SHBI) spotted trading -6.47% off 52-week high price. On the other end, the stock has been noted 22.78% away from the low price over the last 52-weeks. The stock changed 1.53% to recent value of $15.9. The stock transacted 40562 shares during most recent day however it has an average volume of 25.95K shares. The company has 12.78M of outstanding shares and 12.56M shares were floated in the market.

On Oct. 24, 2019, Shore Bancshares (NASDAQ -SHBI) reported net income of $4.206 million or $0.33 per diluted common share for the third quarter of 2019, compared to net income of $4.224 million or $0.33 per diluted common share for the second quarter of 2019, and net income of $4.454 million or $0.35 per diluted common share for the third quarter of 2018.  Net income from continuing operations for the third quarter of 2019 was $4.214 million or $0.33 per diluted common share, compared to net income from continuing operations of $4.228 million or $0.33 per diluted common share for the second quarter of 2019, and net income from continuing operations of $4.256 million or $0.33 per diluted common share for the third quarter of 2018. The Company reported net income of $12.184 million or $0.95 per diluted common share for the first nine months of 2019, compared to net income of $12.903 million or $1.01 per diluted common share for the first nine months of 2018. Net income from continuing operations for the first nine months of 2019 was $12.270 million or $0.96 per diluted common share, compared to net income from continuing operations of $11.910 million or $0.93 per diluted common share for the first nine months of 2018.

When comparing net income from continuing operations for the third quarter of 2019 to the second quarter of 2019, net interest income increased $387 thousand, offset by an increase in noninterest expenses of $399 thousand.  When comparing net income from continuing operations for the third quarter of 2019 to the third quarter of 2018, the decrease was due to lower net interest income of $267 thousand and higher noninterest expenses of $74 thousand, offset by a lower provision for credit losses of $107 thousand and higher noninterest income of $64 thousand.

Its earnings per share (EPS) expected to touch remained 60.30% for this year while earning per share for the next 5-years is expected to reach at 10.00%. SHBI has  an operating margin of 84.50% while its profit margin remained 42.20% for the last 12 months.

The price moved ahead of 2.53% from the mean of 20 days, 2.08% from mean of 50 days SMA and performed 2.24% from mean of 200 days price. Company’s performance for the week was 0.25%, 1.79% for month and YTD performance remained 9.35%.

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