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

Shore Bancshares, Inc. (NASDAQ:SHBI - Get Free Report) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred 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 trading hands.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Keefe, Bruyette & Woods increased their target price on shares of Shore Bancshares from $13.00 to $15.00 and gave the stock a "market perform" rating in a research report on Friday, July 26th. Janney Montgomery Scott downgraded shares of Shore Bancshares from a "buy" rating to a "neutral" rating in a research note on Tuesday, July 30th.

Shore Bancshares Trading Down 1.1 %

The firm has a fifty day moving average of $12.97 and a 200 day moving average of $11.69. The firm has a market capitalization of $468.15 million, a PE ratio of 24.33 and a beta of 0.96. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.93 and a current ratio of 0.94.

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

Shore Bancshares Dividend Announcement

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

Institutional Trading of Shore Bancshares

Several institutional investors have recently added to or reduced their stakes in SHBI. Rhumbline Advisers lifted its stake in Shore Bancshares by 6.5% in the second quarter. Rhumbline Advisers now owns 43,240 shares of the bank's stock valued at $495,000 after buying an additional 2,639 shares during the last quarter. Black Maple Capital Management LP boosted its stake in Shore Bancshares by 18.0% during the 4th quarter. Black Maple Capital Management LP now owns 25,028 shares of the bank's stock valued at $357,000 after purchasing an additional 3,821 shares during the period. Price T Rowe Associates Inc. MD grew its position in Shore Bancshares by 12.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 57,086 shares of the bank's stock worth $657,000 after purchasing an additional 6,321 shares during the last quarter. Empowered Funds LLC increased 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 valued at $1,498,000 after purchasing an additional 9,800 shares during the period. Finally, Gendell Jeffrey L raised its holdings in shares of Shore Bancshares by 3.7% during the first quarter. Gendell Jeffrey L now owns 283,410 shares of the bank's stock valued at $3,259,000 after buying an additional 10,000 shares during the last quarter. Institutional investors own 59.76% of the company's stock.

Shore Bancshares Company Profile

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.