| Nov 25 | Feb 26 | May 26 | Aug 26 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Buy | — | 3 | — | — | 1 | — | — | 1 | — | — | 1 | — |
| Sell | — | — | — | — | — | 1 | — | — | — | — | — | — |
| total | individual payouts | |
|---|---|---|
| 2027 | ‡‡‡‡ |
|
| 2026 | 0.54 |
—
—
—
|
| 2025 | 0.48 |
—
—
—
—
|
| 2024 | 0.48 |
—
—
—
—
|
| 2023 | 0.48 |
—
—
—
—
|
| 2022 | 0.48 |
—
—
—
—
|
| 2021 | 0.48 |
—
—
—
—
|
| 2020 | 0.48 |
—
—
—
—
|
| 2019 | 0.42 |
—
—
—
—
|
| 2018 | 0.32 |
—
—
—
—
|
| 2017 | 0.22 |
—
—
—
—
|
| 2016 | 0.14 |
—
—
—
—
|
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Cash | 372.41 | 459.85 | 355.57 | 257.67 |
| Receivables | — | — | — | — |
| Inventory | — | — | — | — |
| Other | — | — | — | — |
| 4,984.07 | 5,213.11 | 5,248.12 | 5,127.53 |
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Payables | 5,386.12 | 5,528.34 | 5,533.86 | 5,399.75 |
| ST’ Debt | — | — | — | — |
| Other | — | — | — | — |
| 5,386.12 | 5,528.34 | 5,533.86 | 5,399.75 |
| 10y | 5y | 3y | |
| Sales | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Cash Flow | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Earnings | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Book Value | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 85.64 | 86.28 | — | — |
—
|
| ’25 | 83.07 | 85.94 | 84.89 | 88.82 |
342.72
|
| ’24 | 77.71 | 81.55 | 81.98 | 85.26 |
326.49
|
| ’23 | 40.40 | 41.93 | 86.23 | 78.68 |
247.24
|
| ’22 | 30.37 | 32.50 | 35.92 | 38.14 |
136.93
|
| ’21 | 17.90 | 18.43 | 19.81 | 27.52 |
83.67
|
| ’20 | 17.04 | 17.36 | 17.48 | 18.54 |
70.43
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 31.57 | 7.57 | — | — |
—
|
| ’25 | 19.78 | (8.34) | 42.47 | 8.48 |
62.39
|
| ’24 | 2.39 | 3.03 | 9.05 | 32.42 |
46.89
|
| ’23 | 11.22 | (0.57) | (24.00) | 36.07 |
22.71
|
| ’22 | 25.20 | 17.85 | 7.01 | 2.59 |
52.65
|
| ’21 | 3.90 | 6.64 | 5.04 | (23.08) |
(7.50)
|
| ’20 | 4.46 | 5.29 | (0.18) | 8.86 |
18.43
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 30.57 | 7.65 | — | — |
—
|
| ’25 | 20.84 | (8.92) | 42.20 | 5.95 |
60.07
|
| ’24 | 0.61 | 1.69 | 10.01 | 30.30 |
42.61
|
| ’23 | 10.60 | (1.00) | (25.89) | 33.77 |
17.48
|
| ’22 | 24.27 | 17.02 | 6.46 | 2.46 |
50.22
|
| ’21 | 3.19 | 6.31 | 2.98 | (23.42) |
(10.95)
|
| ’20 | 3.07 | 5.22 | (0.49) | 8.27 |
16.06
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 0.51 | 0.56 | — | — |
—
|
| ’25 | 0.41 | 0.46 | 0.43 | 0.48 |
1.78
|
| ’24 | 0.25 | 0.34 | 0.34 | 0.40 |
1.32
|
| ’23 | 0.32 | 0.20 | (0.19) | 0.32 |
0.42
|
| ’22 | 0.28 | 0.38 | 0.49 | 0.42 |
1.57
|
| ’21 | 0.34 | 0.34 | 0.39 | 0.16 |
1.17
|
| ’20 | 0.25 | 0.43 | 0.27 | 0.32 |
1.27
|
| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ | 17.04 | 9.66 | 10.06 | 11.47 | — | — | — |
Low Price
|
| ‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 21.41 | 18.15 | 17.61 | 19.22 | — | — | — |
High Price
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 481 | 630 | 597 | 608 | — | — | — |
Employees
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.28 | 0.39 | 0.55 | 0.56 | — | — | — |
Revenue/Emp
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 136.93 | 247.24 | 326.49 | 342.72 | ‡‡‡‡‡ | ‡‡‡‡‡ | — |
Revenue
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 90.84% | 68.14% | 61.78% | 65.67% | — | — | — |
Gross Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 42.14 | 14.18 | 58.70 | 78.66 | — | — | — |
EBT
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 30.78% | 5.74% | 17.98% | 22.95% | ‡‡‡ | ‡‡‡ | — |
EBT Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 31.18 | 11.23 | 43.89 | 59.51 | ‡‡‡‡‡ | ‡‡‡‡‡ | — |
Net Income
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 7.40 | 11.90 | 15.62 | 15.54 | — | — | — |
Depreciation
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 6.90 | 9.30 | 9.81 | 10.26 | ‡‡‡‡‡ | ‡‡‡‡‡ | — |
Revenue/Sh
|
| ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | 1.57 | 0.42 | 1.32 | 1.78 | ‡‡‡‡‡ | ‡‡‡‡ | — |
Earnings/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 2.65 | 0.85 | 1.41 | 1.87 | — | — | — |
Cash Flow/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (0.12) | (0.20) | (0.13) | (0.07) | ‡‡‡ | ‡‡‡ | — |
Capex/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 2.53 | 0.66 | 1.28 | 1.80 | — | — | — |
Free CF/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 18.35 | 19.24 | 16.26 | 17.66 | — | — | — |
Book Value/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 19.85 | 26.57 | 33.27 | 33.39 | ‡‡‡‡‡ | ‡‡‡‡‡ | — |
Shares
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 11.08 | 21.69 | 11.92 | 9.93 | ‡‡‡‡ | ‡‡‡‡ | — |
PE Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 2.52 | 1.52 | 1.62 | 1.72 | ‡‡‡ | ‡‡‡ | — |
PS Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ | 0.95 | 0.73 | 0.97 | 1.00 | ‡‡‡ | ‡‡‡ | — |
PB Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 2.89 | 0.30 | 0.59 | 0.95 | ‡‡‡‡ | ‡‡‡‡ | — |
EV/Sales
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 7.88 | 4.29 | 4.49 | 5.39 | — | — | — |
EV/FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 52.65 | 22.71 | 46.89 | 62.39 | ‡‡‡ | ‡‡‡ | — |
Op' Cash Flow
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (2.43) | (5.23) | (4.28) | (2.32) | — | — | — |
Capex
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 50.22 | 17.48 | 42.61 | 60.07 | — | — | — |
FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (419.59) | (402.05) | (315.23) | (285.74) | — | — | — |
Working Cap'
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 105.67 | 72.67 | 123.72 | 89.06 | — | — | — |
Total Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 50.18 | (299.74) | (336.13) | (266.50) | — | — | — |
Net Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 364.29 | 511.14 | 541.07 | 589.87 | — | — | — |
Sh' Equity
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.90% | 0.24% | 0.72% | 0.95% | — | — | — |
ROA
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡ | 6.35% | 4.19% | 17.90% | 15.20% | — | — | — |
ROIC
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 8.72% | 2.57% | 8.34% | 10.52% | — | — | — |
ROE
|
Shore Bancshares Inc. (SHBI), a Mid-Atlantic regional bank, has undergone a transformative decade capped by its 2022 merger with Severn Bancorp, which doubled revenue to $326.5 million by 2024 and embedded scale amid rising rates. While net interest income drove an 80% revenue surge in 2023 and efficiency gains like revenue per employee doubling to $546,876, profitability hit a 2023 trough with net income at $11.2 million before a sharp 2024 rebound to $43.9 million and EPS of $1.32. Balance sheet equity grew 54% to $541 million, though share dilution and rising debt highlight acquisitive risks in a deposit-funded model.
Analyst forecasts temper optimism, projecting a 32% revenue drop to $223.6 million in 2025 from normalizing rates—echoing past cycles like 2023’s banking mini-crisis—before modest recovery to $256.8 million by 2027, with EPS climbing to $2.19. Valuation looks compelling at a trailing P/E of 11.9, forward 10.3, and PB near 1.0, trading at a discount to peers, bolstered by robust free cash flow and ROIC of 17.9%. Yet, margin compression, volatile net debt, and credit sensitivities in commercial real estate warrant vigilance.
Insider buying totaling $486,000 through early 2026 signals confidence amid sector headwinds, positioning SHBI for steady mid-teens ROE if deposits stabilize. With modest analyst targets implying 7% upside, this methodical rebuild offers patient value, but downside risks from rate cuts and funding costs make it a hold for conservative portfolios—read the full analysis for deeper balance sheet scrutiny.
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