Shore Bancshares Q2 net income rises
Overview
Shore Bancshares Q2 net income rises to $15.5 mln from $11.2 mln in Q2 2024
Net interest margin expands to 3.35% in Q2 2025
Total assets decrease 3.1% from Dec 2024 to $6.04 bln, driven by deposit run-offs
Outlook
Shore Bancshares expects asset yield increases to support margins for 2025
Company anticipates ongoing improvements in operating leverage
Company sees continued investments in infrastructure and personnel for growth
Result Drivers
NET INTEREST INCOME - Increase driven by modest loan growth, accelerated accretion income, and loan and securities repricing
MORTGAGE BANKING - Higher noninterest income attributed to increased mortgage banking activity
OPERATING LEVERAGE - Improved efficiency ratio due to ongoing expense management and technology investments
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 EPS | $0.46 | ||
Q2 Net Income | $15.51 mln | ||
Q2 Net Interest Income | $47.33 mln | ||
Q2 Credit Loss Provision | $1.53 mln |
Analyst Coverage
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 "buy"
Wall Street's median 12-month price target for Shore Bancshares Inc is $18.00, about 7.7% above its July 23 closing price of $16.62
The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 8 three months ago
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