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Shore Bancshares

Nasdaq:SHBI
Snowflake Description

Excellent balance sheet with proven track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
SHBI
Nasdaq
$203M
Market Cap
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Last updated 2019/06/16 23:42
Company description

Shore Bancshares, Inc. operates as a bank holding company for the Shore United Bank that provides various commercial banking products and services to individuals, businesses, and other organizations. The last earnings update was 37 days ago. More info.

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SHBI Share Price and Events
7 Day Returns
1.4%
NasdaqGS:SHBI
1.1%
US Banks
0.5%
US Market
1 Year Returns
-18.7%
NasdaqGS:SHBI
-8%
US Banks
0.8%
US Market
SHBI Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Shore Bancshares (SHBI) 1.4% 0.4% 1.7% -18.7% 43% 68.9%
US Banks 1.1% -0.6% -2.8% -8% 46.4% 40.3%
US Market 0.5% -0.1% 1% 0.8% 37.5% 37.5%
1 Year Return vs Industry and Market
  • SHBI underperformed the Banks industry which returned -8% over the past year.
  • SHBI underperformed the Market in United States of America which returned 0.8% over the past year.
Price Volatility
SHBI
Industry
5yr Volatility vs Market

SHBI Value

 Is Shore Bancshares undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Shore Bancshares to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Shore Bancshares.

NasdaqGS:SHBI Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= $15.73 * 6.1% 		$0.97
Book Value of Equity per Share Weighted future Book Value estimates from 2 analysts. $15.73
Discount Rate (Cost of Equity) See below 7.5%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NasdaqGS:SHBI
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Banks Unlevered Beta Simply Wall St/ S&P Global 0.59
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.593 (1 + (1- 21%) (24.42%)) 		0.804
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)		 0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.804 * 5.96%) 		7.52%

Discounted Cash Flow Calculation for NasdaqGS:SHBI using Excess Returns Model Model

The calculations below outline how an intrinsic value for Shore Bancshares is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

NasdaqGS:SHBI Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (6.1% – 7.52%) * $15.73) 		$-0.22
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $-0.22 / (7.52% - 2.73%) 		$-4.55
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $15.73 + $-4.55 		$11.18
NasdaqGS:SHBI Discount to Share Price
Calculation Result
Value per share (USD) From above. $11.18
Current discount Discount to share price of $15.86
= -1 x ($15.86 - $11.18) / $11.18 		-41.8%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Shore Bancshares is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Shore Bancshares's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Shore Bancshares's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqGS:SHBI PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $1.26
NasdaqGS:SHBI Share Price ** NasdaqGS (2019-06-14) in USD $15.86
United States of America Banks Industry PE Ratio Median Figure of 600 Publicly-Listed Banks Companies 12.67x
United States of America Market PE Ratio Median Figure of 3,094 Publicly-Listed Companies 17.69x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Shore Bancshares.

NasdaqGS:SHBI PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGS:SHBI Share Price ÷ EPS (both in USD)

= 15.86 ÷ 1.26

 12.54x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Shore Bancshares is good value based on earnings compared to the US Banks industry average.
  • Shore Bancshares is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does Shore Bancshares's expected growth come at a high price?
Raw Data
NasdaqGS:SHBI PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 12.54x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts		 7.4%per year
United States of America Banks Industry PEG Ratio Median Figure of 271 Publicly-Listed Banks Companies 1.37x
United States of America Market PEG Ratio Median Figure of 2,125 Publicly-Listed Companies 1.52x

*Line of best fit is calculated by linear regression .

NasdaqGS:SHBI PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 12.54x ÷ 7.4%

 1.69x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Shore Bancshares is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Shore Bancshares's assets?
Raw Data
NasdaqGS:SHBI PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $14.64
NasdaqGS:SHBI Share Price * NasdaqGS (2019-06-14) in USD $15.86
United States of America Banks Industry PB Ratio Median Figure of 603 Publicly-Listed Banks Companies 1.2x
United States of America Market PB Ratio Median Figure of 5,244 Publicly-Listed Companies 1.79x
NasdaqGS:SHBI PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGS:SHBI Share Price ÷ Book Value per Share (both in USD)

= 15.86 ÷ 14.64

 1.08x

* Primary Listing of Shore Bancshares.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Shore Bancshares is good value based on assets compared to the US Banks industry average.
Show me more potentially undervalued companies in the Banks industry
X
Value checks
We assess Shore Bancshares's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Banks industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Banks industry average (and greater than 0)? (1 check)
    5. Shore Bancshares has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

SHBI Future Performance

 How is Shore Bancshares expected to perform in the next 1 to 3 years based on estimates from 2 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
7.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Shore Bancshares expected to grow at an attractive rate?
  • Shore Bancshares's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Shore Bancshares's earnings growth is positive but not above the United States of America market average.
  • Shore Bancshares's revenues are expected to decrease over the next 1-3 years, this is below the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NasdaqGS:SHBI Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqGS:SHBI Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts 7.4%
NasdaqGS:SHBI Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts -0.7%
United States of America Banks Industry Earnings Growth Rate Market Cap Weighted Average 3.8%
United States of America Banks Industry Revenue Growth Rate Market Cap Weighted Average 3.9%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.9%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NasdaqGS:SHBI Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqGS:SHBI Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 56 18 2
2019-12-31 52 17 2
NasdaqGS:SHBI Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 58 24 16
2018-12-31 58 18 16
2018-09-30 55 18 13
2018-06-30 54 20 12
2018-03-31 51 18 10
2017-12-31 52 20 9
2017-09-30 58 20 11
2017-06-30 55 17 10
2017-03-31 54 19 10
2016-12-31 53 19 10
2016-09-30 52 18 9
2016-06-30 51 18 9

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Shore Bancshares's earnings are expected to grow by 7.4% yearly, however this is not considered high growth (20% yearly).
  • Shore Bancshares's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NasdaqGS:SHBI Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below

All data from Shore Bancshares Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:SHBI Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31 1.45 1.51 1.38 2.00
2019-12-31 1.33 1.37 1.28 2.00
NasdaqGS:SHBI Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 1.26
2018-12-31 1.24
2018-09-30 1.02
2018-06-30 0.94
2018-03-31 0.78
2017-12-31 0.73
2017-09-30 0.87
2017-06-30 0.79
2017-03-31 0.79
2016-12-31 0.76
2016-09-30 0.74
2016-06-30 0.70

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Shore Bancshares will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Shore Bancshares's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Shore Bancshares has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

SHBI Past Performance

  How has Shore Bancshares performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Shore Bancshares's growth in the last year to its industry (Banks).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Shore Bancshares has delivered over 20% year on year earnings growth in the past 5 years.
  • Shore Bancshares's 1-year earnings growth exceeds its 5-year average (63.1% vs 36.7%)
  • Shore Bancshares's earnings growth has exceeded the US Banks industry average in the past year (63.1% vs 39.5%).
Earnings and Revenue History
Shore Bancshares's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Shore Bancshares Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:SHBI Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 58.48 16.13 30.29
2018-12-31 57.97 15.76 30.49
2018-09-30 54.86 12.97 29.11
2018-06-30 53.92 11.93 28.63
2018-03-31 51.27 9.89 28.13
2017-12-31 51.60 9.23 28.58
2017-09-30 58.23 11.06 33.89
2017-06-30 54.88 10.06 32.77
2017-03-31 53.83 9.98 31.92
2016-12-31 52.85 9.64 31.44
2016-09-30 51.90 9.31 31.24
2016-06-30 51.34 8.80 31.24
2016-03-31 50.23 8.16 31.15
2015-12-31 48.87 7.11 31.40
2015-09-30 47.87 6.17 32.89
2015-06-30 47.33 5.52 32.39
2015-03-31 47.31 5.20 31.68
2014-12-31 47.47 5.05 30.96
2014-09-30 48.33 5.00 29.41
2014-06-30 27.52 -7.65 29.16
2014-03-31 27.18 -8.60 29.09
2013-12-31 24.55 -9.63 30.45
2013-09-30 16.22 -15.88 27.82
2013-06-30 31.59 -6.31 27.84
2013-03-31 30.11 -6.38 27.91
2012-12-31 24.69 -9.64 28.46
2012-09-30 31.84 -4.24 28.20
2012-06-30 36.30 -2.32 27.82

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Shore Bancshares has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Shore Bancshares used its assets more efficiently than the US Banks industry average last year based on Return on Assets.
  • Unable to establish if Shore Bancshares improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
Show me more strong past performing companies in the Banks industry
X
Past performance checks
We assess Shore Bancshares's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Banks industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Shore Bancshares has a total score of 4/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

SHBI Health

 How is Shore Bancshares's financial position? (This company is analysed differently as a bank or financial institution)

This company is a bank or financial institution.

Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of Shore Bancshares's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Shore Bancshares Company Filings, last reported 2 months ago.

NasdaqGS:SHBI Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 187.08 49.49 58.82
2018-12-31 183.19 75.81 67.23
2018-09-30 171.42 114.04 48.78
2018-06-30 168.12 102.74 43.48
2018-03-31 164.98 72.99 42.00
2017-12-31 163.74 21.73 31.82
2017-09-30 162.65 1.47 43.92
2017-06-30 159.94 3.33 54.08
2017-03-31 157.63 2.92 48.85
2016-12-31 154.30 3.20 75.94
2016-09-30 154.84 5.00 75.13
2016-06-30 152.32 6.87 61.22
2016-03-31 150.11 5.87 73.63
2015-12-31 146.97 6.67 73.81
2015-09-30 145.89 6.48 66.18
2015-06-30 143.40 6.63 59.76
2015-03-31 142.75 5.10 75.96
2014-12-31 140.47 4.81 96.22
2014-09-30 138.67 10.76 109.64
2014-06-30 137.49 7.80 94.37
2014-03-31 104.63 8.07 132.90
2013-12-31 103.30 10.14 131.09
2013-09-30 102.00 11.47 106.92
2013-06-30 113.59 10.10 124.51
2013-03-31 114.35 11.09 121.69
2012-12-31 114.03 13.76 200.21
2012-09-30 118.16 13.53 183.47
2012-06-30 119.47 14.71 169.64
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • Shore Bancshares has an acceptable proportion of non-loan assets held.
  • Shore Bancshares's liabilities are made up of primarily low risk sources of funding.
  • Loans at Shore Bancshares are broadly funded by customer deposits.
  • Shore Bancshares's level of assets compared to its equity is low (i.e. an appropriate level of borrowing to fund lending).
  • Shore Bancshares has a low allowance for bad loans.
  • Shore Bancshares has an acceptable level of bad loans (less than 2%).
Show me more healthy companies in the Banks industry
X
Financial health checks
We assess Shore Bancshares's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
    7. Shore Bancshares has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

SHBI Dividends

 What is Shore Bancshares's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.52%
Current annual income from Shore Bancshares dividends. Estimated to be 2.65% next year.
If you bought $2,000 of Shore Bancshares shares you are expected to receive $50 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Shore Bancshares's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.46%).
  • Shore Bancshares's dividend is below the markets top 25% of dividend payers in United States of America (3.71%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NasdaqGS:SHBI Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
United States of America Banks Industry Average Dividend Yield Market Cap Weighted Average of 478 Stocks 2.9%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2011 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.5%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NasdaqGS:SHBI Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2020-12-31 0.44 2.00
2019-12-31 0.40 2.00
NasdaqGS:SHBI Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-05-08 0.400 2.549
2019-02-05 0.400 2.600
2018-11-05 0.360 2.369
2018-08-08 0.320 1.790
2018-05-09 0.320 1.673
2018-02-01 0.280 1.543
2017-11-01 0.280 1.603
2017-08-03 0.200 1.203
2017-05-03 0.200 1.208
2017-02-08 0.200 1.188
2016-11-03 0.200 1.324
2016-08-03 0.120 1.011
2016-05-04 0.120 1.046
2016-02-03 0.120 1.024
2015-11-04 0.080 0.754
2015-08-06 0.080 0.833
2014-01-23 0.000 0.000
2013-12-30 0.000 0.000
2013-11-14 0.000 0.000
2013-10-29 0.000 0.000
2013-08-14 0.000 0.000
2013-07-24 0.000 0.000
2013-05-15 0.000 0.000
2013-04-23 0.000 0.000
2013-03-15 0.000 0.000
2013-01-29 0.000 0.000
2012-11-09 0.000 0.000
2012-10-23 0.000 0.000
2012-05-04 0.000 0.000
2012-04-24 0.000 0.000
2011-11-04 0.040 0.689
2011-08-08 0.040 0.800
2011-05-09 0.040 0.561
2011-04-26 0.240 2.519
2011-03-15 0.240 2.431
2011-01-26 0.240 2.422
2010-11-09 0.240 2.371
2010-10-26 0.240 2.443
2010-08-09 0.240 2.447
2010-07-27 0.240 2.148
2010-02-03 0.240 1.876
2010-01-27 0.640 4.894
2009-11-09 0.640 4.402
2009-10-26 0.640 4.014
2009-08-10 0.640 3.701
2009-07-28 0.640 3.334
2009-07-07 0.640 3.316

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of Shore Bancshares's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.6x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Shore Bancshares's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Shore Bancshares afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
    7. Shore Bancshares has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

SHBI Management

 What is the CEO of Shore Bancshares's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Scott Beatty
COMPENSATION $614,690
AGE 65
TENURE AS CEO 6 years
CEO Bio

Mr. Lloyd L. Beatty Jr., also known as Scott, has served as the Shore Bancshares Inc. and Shore United Bank's President and Chief Executive Officer ("CEO") since June 2013 and as a director of the Shore Bancshares Inc. since 2000. Prior to the merger of banking subsidiaries, CNB and The Talbot Bank of Easton ("Talbot Bank"), which formed Shore United Bank in July 2016, Mr. Beatty served as a director of the Talbot Bank since 1992 and as a director of CNB since 2015 and subsequently became a director of the shore united bank following the merger and serves as Its Chief Executive Officer since December 17, 2018.. Since January 2011, Mr. Beatty has served as its President and Chief Operating Officer ("COO") and previously served as Executive Vice President and COO since August 2007. Prior to that and since October 2004, Mr. Beatty has been employed in various executive level operating officer capacities. Prior to joining the Company, Mr. Beatty was the Chief Operating Officer of Darby Overseas Investments, LP, a global private equity firm, and President of Darby Advisors, Inc., a privately held family investment business, from 1998 to 2005. Mr. Beatty was also a practicing certified public accountant for 25 years and a principal in the accounting firm Beatty, Satchell & Company from 1977 to 1998. Mr. Beatty’s extensive financial knowledge and operational experience, as well as his familiarity with an important market area in which his experience with the shore united bank and his experience in advising companies in financial and tax matters, mergers and acquisition transactions, and insurance operations. He serves as Director of Avon-Dixon Agency.

CEO Compensation
  • Scott's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Scott's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Shore Bancshares management team in years:

5
Average Tenure
60.5
Average Age
  • The tenure for the Shore Bancshares management team is about average.
Management Team

Scott Beatty

TITLE
President
COMPENSATION
$615K
AGE
65
TENURE
6 yrs

Ed Allen

TITLE
Senior VP & CFO
COMPENSATION
$316K
AGE
70
TENURE
3.1 yrs

Donna Stevens

TITLE
Senior VP & COO
COMPENSATION
$317K
AGE
55
TENURE
3.9 yrs

Timothy Berrigan

TITLE
VP & Chief Information Officer

W. Morse

TITLE
Secretary & General Counsel
AGE
56
TENURE
11.4 yrs

Debra Rich

TITLE
VP and Chief Marketing & Project Officer
Board of Directors Tenure

Average tenure and age of the Shore Bancshares board of directors in years:

6.2
Average Tenure
63
Average Age
  • The tenure for the Shore Bancshares board of directors is about average.
Board of Directors

Frank Mason

TITLE
Chairman of the Board
COMPENSATION
$52K
AGE
55
TENURE
2.4 yrs

Scott Beatty

TITLE
President
COMPENSATION
$615K
AGE
65
TENURE
18.5 yrs

James Judge

TITLE
Director
COMPENSATION
$42K
AGE
59
TENURE
10.2 yrs

John Wilson

TITLE
Director
COMPENSATION
$42K
AGE
72
TENURE
10.2 yrs

David Bates

TITLE
Director
COMPENSATION
$42K
AGE
71
TENURE
7.2 yrs

David Moore

TITLE
Director
COMPENSATION
$42K
AGE
53
TENURE
5.2 yrs

Jeffrey Thompson

TITLE
Director
COMPENSATION
$42K
AGE
62
TENURE
3.2 yrs

R. Clemmer

TITLE
Director
COMPENSATION
$42K
AGE
50
TENURE
3.2 yrs

Blenda Armistead

TITLE
Director
COMPENSATION
$42K
AGE
66
TENURE
17.4 yrs

Clyde Kelly

TITLE
Director
COMPENSATION
$42K
AGE
64
TENURE
3.2 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
X
Management checks
We assess Shore Bancshares's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
    5. Shore Bancshares has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

SHBI News

Simply Wall St News

How Many Shore Bancshares, Inc. (NASDAQ:SHBI) Shares Do Institutions Own?

Shore Bancshares is a smaller company with a market capitalization of US$198m, so it may still be flying under the radar of many institutional investors. … See our latest analysis for Shore Bancshares NasdaqGS:SHBI Ownership Summary, May 30th 2019 What Does The Institutional Ownership Tell Us About Shore Bancshares? … As you can see, institutional investors own 66% of Shore Bancshares.

Simply Wall St - –

If You Had Bought Shore Bancshares (NASDAQ:SHBI) Shares Five Years Ago You'd Have Made 78%

(NASDAQ:SHBI) share price is up 78% in the last 5 years, clearly besting than the market return of around 45% (ignoring dividends). … Indeed, the Shore Bancshares share price has gained 39% in three years. … Before deciding if you like the current share price, check how Shore Bancshares scores on these 3 valuation metrics.

Simply Wall St - –

Is Shore Bancshares, Inc.'s (NASDAQ:SHBI) P/E Ratio Really That Good?

To keep it practical, we'll show how Shore Bancshares, Inc.'s (NASDAQ:SHBI) P/E ratio could help you assess the value on offer. … Looking at earnings over the last twelve months, Shore Bancshares has a P/E ratio of 12.38. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

Simply Wall St - –

Is Shore Bancshares, Inc.'s (NASDAQ:SHBI) CEO Paid Enough Relative To Peers?

This analysis aims first to contrast CEO compensation with other companies that have similar market capitalization. … How Does Scott Beatty's Compensation Compare With Similar Sized Companies. … has a market capitalization of US$195m, and pays its CEO total annual compensation worth US$615k.

Simply Wall St - –

Update: Shore Bancshares (NASDAQ:SHBI) Stock Gained 60% In The Last Five Years

(NASDAQ:SHBI) shareholders have enjoyed a 60% share price rise over the last half decade, well in excess of the market return of around 41% (not including dividends). … By comparing earnings per share (EPS) and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time. … Indeed, the Shore Bancshares share price has gained 28% in three years.

Simply Wall St - –

How Many Shore Bancshares, Inc. (NASDAQ:SHBI) Shares Do Institutions Own?

(NASDAQ:SHBI), then you'll have to look at the makeup of its share registry. … Shore Bancshares is not a large company by global standards. … institutions are noticeable on the share registry.

Simply Wall St - –

Is Shore Bancshares, Inc. (NASDAQ:SHBI) A Great Dividend Stock?

A sizeable part of portfolio returns can be produced by dividend stocks due to their contribution to compounding returns in the long run. … Historically, Shore Bancshares, Inc. … Let's take a look at Shore Bancshares in more detail.

Simply Wall St - –

Risk Factors To Consider Before Investing In Shore Bancshares, Inc. (NASDAQ:SHBI)

As a small-cap bank with a market capitalisation of US$190m, Shore Bancshares, Inc.’s (NASDAQ:SHBI) profit and value are directly affected by economic growth. … Risk associated with repayment is measured by bad debt which is written off as an expense, impacting Shore Bancshares’s bottom line. … Check out our latest analysis for Shore Bancshares?

Simply Wall St - –

What You Should Know About Shore Bancshares, Inc.’s (NASDAQ:SHBI) Liquidity

Shore Bancshares, Inc.’s (NASDAQ:SHBI) profitability and risk are largely affected by the underlying economic growth for the region it operates in US given it is a small-cap stock with a market capitalisation of US$196m. … These reforms target bank level regulation and aims to improve the banking sector’s ability to absorb shocks arising from economic stress which could expose financial institutions to vulnerabilities. … Since its financial standing can unexpectedly decline in the case of an adverse macro event such as political instability, it is important to understand how prudent the bank is at managing its risk levels.

Simply Wall St - –

Interested In Shore Bancshares Inc (NASDAQ:SHBI)’s Upcoming US$0.09 Dividend? You Have 4 Days Left

On the 30 November 2018, Shore Bancshares Inc (NASDAQ:SHBI) will be paying shareholders an upcoming dividend amount of US$0.09 per share. … 5 checks you should use to assess a dividend stock? … If you are a dividend investor, you should always assess these five key metrics:?

Simply Wall St - –

SHBI Company Info

Description

Shore Bancshares, Inc. operates as a bank holding company for the Shore United Bank that provides various commercial banking products and services to individuals, businesses, and other organizations. It offers various deposit products, including checking, savings, and money market accounts; and regular and IRA certificates of deposit, as well as CDARS programs and cash management services. The company also provides commercial loans, such as secured and unsecured loans, working capital loans, lines of credit, term loans, accounts receivable financing, real estate acquisition and development loans, construction loans, and letters of credit; residential real estate construction loans; residential mortgage loans; and loans to consumers comprising home equity, automobile, installment, home improvement, and personal lines of credit. In addition, it offers safe deposit boxes; debit and credit cards; direct deposit of payroll; merchant credit card clearing services; telephone, mobile, and Internet banking services; and automatic teller machine (ATM) services. Further, the company provides non-deposit products, such as mutual funds and annuities, and discount brokerage services; and trust, asset management, and financial planning services. It operates 21 full service branches, 23 ATMs, 2 loan production offices in Baltimore City, Baltimore County, Howard County, Kent County, Queen Anne’s County, Caroline County, Talbot County, and Dorchester County in Maryland; Kent County, Delaware; and Accomack County, Virginia. Shore Bancshares, Inc. was founded in 1876 and is headquartered in Easton, Maryland.

Details
Name: Shore Bancshares, Inc.
SHBI
Exchange: NasdaqGS
Founded: 1876
$202,676,081
12,779,072
Website: http://www.shoreunitedbank.com/shore-bancshares--inc-
Address: Shore Bancshares, Inc.
28969 Information Lane,
Easton,
Maryland, 21601,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGS SHBI Common Stock Nasdaq Global Select US USD 31. Jan 1975
Number of employees
Current staff
Staff numbers
292
Shore Bancshares employees.
Industry
Regional Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/16 23:42
End of day share price update: 2019/06/14 00:00
Last estimates confirmation: 2019/04/29
Last earnings filing: 2019/05/10
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

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