Revenue Update on Shore Bancshares(NASDAQ:SHBI)

Shore Bancshares(NASDAQ:SHBI) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Jul 21, 2016. Company reported revenue of $9.41M. Analysts estimated a revenue of $10.61M. Earnings per share were $0.18. Analysts had estimated an EPS of $0.17.

Shore Bancshares (SHBI) made into the market gainers list on Wednesdays trading session with the shares advancing 0.09% or 0.01 points. Due to strong positive momentum, the stock ended at $11.39, which is also near the day’s high of $11.43. The stock began the session at $11.37 and the volume stood at 18,976 shares. The 52-week high of the shares is $12.59 and the 52 week low is $9.13. The company has a current market capitalization of $144 M and it has 1,26,44,743 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On Mar 22, 2016, Frank E Iii Mason (director) purchased 5,395 shares at $11.17 per share price.Also, 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.

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