Shore Bancshares (NASDAQ:SHBI) Shares Pass Above 200 Day Moving Average of $11.69

Shares of Shore Bancshares, Inc. (NASDAQ:SHBI) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $11.69 and traded as high as $14.48. Shore Bancshares shares last traded at $14.20, with a volume of 66,200 shares.

Analyst Ratings Changes

A number of analysts have recently weighed in on SHBI shares. Keefe, Bruyette & Woods increased their price objective on Shore Bancshares from $13.00 to $15.00 and gave the company a “market perform” rating in a research note on Friday, July 26th. Janney Montgomery Scott cut shares of Shore Bancshares from a “buy” rating to a “neutral” rating in a research report on Tuesday, July 30th.

Shore Bancshares Trading Down 1.1 %

The stock’s fifty day moving average price is $13.04 and its 200 day moving average price is $11.70. The stock has a market cap of $468.15 million, a P/E ratio of 24.22 and a beta of 0.96. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.29.

Shore Bancshares (NASDAQ:SHBI) last announced its quarterly earnings data on Thursday, July 25th. The bank reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.06. Shore Bancshares had a net margin of 7.18% and a return on equity of 8.37%. The business had revenue of $50.66 million for the quarter. Equities research analysts expect that Shore Bancshares, Inc. will post 1.5 earnings per share for the current year.

Shore Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 12th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date of this dividend was Monday, August 12th. Shore Bancshares’s dividend payout ratio (DPR) is presently 82.76%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in shares of Shore Bancshares by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 1,619,605 shares of the bank’s stock worth $18,625,000 after purchasing an additional 11,544 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Shore Bancshares by 12.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 57,086 shares of the bank’s stock worth $657,000 after buying an additional 6,321 shares during the last quarter. Empowered Funds LLC lifted its stake in shares of Shore Bancshares by 8.1% in the first quarter. Empowered Funds LLC now owns 130,246 shares of the bank’s stock worth $1,498,000 after buying an additional 9,800 shares in the last quarter. Black Maple Capital Management LP grew its holdings in shares of Shore Bancshares by 18.0% during the fourth quarter. Black Maple Capital Management LP now owns 25,028 shares of the bank’s stock valued at $357,000 after buying an additional 3,821 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its position in shares of Shore Bancshares by 428.0% during the first quarter. BNP Paribas Financial Markets now owns 42,829 shares of the bank’s stock valued at $493,000 after acquiring an additional 34,717 shares in the last quarter. Hedge funds and other institutional investors own 59.76% of the company’s stock.

About Shore Bancshares

Shore Bancshares, Inc operates as a bank holding company for the Shore United Bank, N.A. 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.