Shore Bancshares Inc reports results for the quarter ended June 30 - Earnings Summary

• Shore Bancshares Inc SHBI.OQ reported quarterly adjusted earnings of 46 cents​​ per share for the quarter ended June 30, higher than the same quarter last year, when the company reported EPS of 34 cents. The mean expectation of three analysts for the quarter was for earnings of 41 cents per share. Wall Street expected results to range from 40 cents to 42 cents per share.

• Revenue rose 12.1% to $47.25 million from a year ago; analysts expected $46.75 million.

• Shore Bancshares Inc's reported EPS for the quarter was 46 cents​.

• The company reported quarterly net income of $15.51 million.

• Shore Bancshares Inc shares had risen by 5.7% this quarter and gained 4.9% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had risen by about 5.1% in the last three months.​

• In the last 30 days, there have been no negative revisions of earnings estimates

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 $18.00, about 7.7% above its last closing price of $16.62

This summary was machine generated from LSEG data July 24 at 08:09 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)