BUZZ-Shore Bancshares rises after KBW upgrades to 'outperform'

Reuters
2024-12-05

** Regional lender Shore Bancshares' stock rises as much as 5.4%; last up 4.7% at $17.37

** KBW upgrades company's shares to "outperform" from "market perform"; raises PT to $20 from $16, a 20.6% upside to stock's last close

** Brokerage says SHBI shares still trade at a discount to its peers even after the recent bank rally

** 2025 will likely be a turning point in SHBI's story with improved growth and potential for further upside in M&A - brokerage

** KBW believes there are a number of buyers who would be interested in the bank given SHBI now has enhanced scarcity value in Maryland after the $1.6 bln sale of Sandy Spring

to Atlantic Union Bankshares

** As of last close, SHBI shares up 16.4% YTD

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com))

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