Shore Bancshares, Inc. (NASDAQ:SHBI – Get Free Report) announced a quarterly dividend on Monday, February 5th, Wall Street Journal reports. Investors of record on Monday, February 12th will be given a dividend of 0.12 per share by the bank on Thursday, February 29th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.32%. The ex-dividend date of this dividend is Friday, February 9th.
Shore Bancshares has a dividend payout ratio of 28.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Shore Bancshares to earn $1.70 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 28.2%.
Shore Bancshares Price Performance
Shore Bancshares stock opened at $11.10 on Tuesday. Shore Bancshares has a 52 week low of $9.66 and a 52 week high of $18.07. The business has a 50-day simple moving average of $13.29 and a 200 day simple moving average of $11.88. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.09. The stock has a market cap of $367.97 million, a price-to-earnings ratio of 17.08 and a beta of 0.97.
Insider Transactions at Shore Bancshares
Institutional Investors Weigh In On Shore Bancshares
A number of hedge funds and other institutional investors have recently modified their holdings of SHBI. FMR LLC lifted its stake in shares of Shore Bancshares by 28.9% in the 2nd quarter. FMR LLC now owns 2,274 shares of the bank’s stock valued at $42,000 after acquiring an additional 510 shares during the last quarter. Legal & General Group Plc bought a new position in Shore Bancshares during the 2nd quarter valued at approximately $46,000. Qube Research & Technologies Ltd bought a new position in Shore Bancshares during the 3rd quarter valued at approximately $50,000. Tower Research Capital LLC TRC raised its position in Shore Bancshares by 155.7% during the 3rd quarter. Tower Research Capital LLC TRC now owns 2,994 shares of the bank’s stock valued at $52,000 after purchasing an additional 1,823 shares during the last quarter. Finally, Citigroup Inc. bought a new position in Shore Bancshares during the 2nd quarter valued at approximately $64,000. Institutional investors own 64.77% of the company’s stock.
Analyst Upgrades and Downgrades
Several research firms recently commented on SHBI. StockNews.com upgraded Shore Bancshares from a “sell” rating to a “hold” rating in a research report on Thursday, February 1st. TheStreet upgraded Shore Bancshares from a “c” rating to a “b-” rating in a research report on Wednesday, January 31st.
Shore Bancshares Company Profile
Shore Bancshares, Inc operates as a bank holding company for the Shore United Bank that provides various commercial and consumer banking products and services to individuals, businesses, and other organizations. It offers checking, savings, overnight investment sweep, and money market accounts; and regular and IRA certificates of deposit, as well as CDARS programs and cash management services.
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