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Michael Brian Adams, a director at Shore Bancshares Inc. (NASDAQ:SHBI), has recently acquired additional shares of the company. According to a recent filing, Adams purchased 560 shares of common stock on May 2, 2025, at a price of $14.146 per share. This transaction amounted to a total value of $7,921. The purchase price represents an attractive entry point for the $480 million market cap bank, which currently trades at a P/E ratio of 9.7 and offers a 3.3% dividend yield, having maintained consistent dividend payments for 11 consecutive years.
Following this purchase, Adams holds a total of 9,758 shares indirectly through a Roth IRA, in addition to 34,623 shares directly owned. This acquisition reflects Adams’ continued investment in the company, which is headquartered in Easton, Maryland. According to InvestingPro analysis, Shore Bancshares currently trades below its Fair Value, with additional insights and financial metrics available to subscribers.
In other recent news, Shore Bancshares announced that its subsidiary, Mid-Maryland Title, Inc., will cease real estate closing operations by March 31, 2025. The company has filed a report with the SEC, indicating that Mid-Maryland Title will wind down its operations, completing ongoing work before officially dissolving. No specific reasons for the closure were provided in the SEC filing. Meanwhile, Piper Sandler has initiated coverage on Shore Bancshares with an Overweight rating, setting a price target of $20. The firm highlights the bank’s strong presence in Maryland and its growth potential, including mergers and acquisitions opportunities. Piper Sandler projects that Shore Bancshares, with assets around $6 billion, has significant room for growth, potentially reaching $10 billion in assets within six years. The analyst also notes the company’s valuable position as one of the last community banks with scale in its market, suggesting potential M&A activity. This positive outlook is supported by an anticipated improvement in profitability and a potential multiple expansion.
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