Shore Bancshares (SHBI) Releases Earnings Results, Beats Expectations By $0.01 EPS

Shore Bancshares (SHBI) reported quarterly earnings results on Thursday, Apr-21-2016. The company said it had a profit of $0.19 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.01. Analysts had a consensus of $0.18. The company posted revenue of $9.24 million in the period, compared to analysts expectations of $9.34 million. The company’s revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.11 EPS.

Shore Bancshares closed down -0.19 points or -1.55% at $12.04 with 25,695 shares getting traded on Monday. Post opening the session at $12.03, the shares hit an intraday low of $11.9201 and an intraday high of $12.22 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

In a different news, on Mar 22, 2016, Frank E Iii Mason (director) purchased 5,395 shares at $11.17 per share price. According to the SEC, on Dec 15, 2015, W Moorhead Vermilye (director) sold 50,000 shares at $10.65 per share price. On Aug 25, 2015, Lloyd L Jr Beatty (CEO) purchased 1,000 shares at $9.35 per share price, according to the Form-4 filing with the securities and exchange commission.

Shore Bancshares Inc. is a financial holding company. The Company acts as the parent company to several financial institution and insurance entities. The Company has two business segments: Community Banking and Insurance Products and Services. The Company’s Community Banking segment provides services to consumers and small businesses on the Eastern Shore of Maryland and in Delaware. It is engaged in the banking business through CNB a Maryland commercial bank with trust powers and The Talbot Bank of Easton Maryland a Maryland commercial bank. The Company’s Insurance Products and Services segment provides a range of insurance products and services to businesses and consumers in the Company’s market areas. It is engaged in the insurance business through two general insurance producer firms The Avon-Dixon Agency LLC and Elliott Wilson Insurance LLC; one marine insurance producer firm Jack Martin & Associates Inc. and an insurance premium finance company Mubell Finance LLC.

Shore Bancshares

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