Piper Sandler raised the firm’s price target on Shore Bancshares (SHBI) to $18.50 from $18 and keeps an Overweight rating on the shares. The firm notes the company reported Q3 EPS of 43c, a 4c miss versus Piper and 2c below consensus. The company did take a bit of a step back on profitability this quarter and part of this was driven by higher provisioning to cover slightly elevated NCOs.
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