Shore Bancshares, Inc. Announces Quarterly Dividend of $0.12 (NASDAQ:SHBI)

Shore Bancshares, Inc. (NASDAQ:SHBI - Get Free Report) declared a quarterly dividend on Wednesday, October 30th, Zacks reports. Investors of record on Tuesday, November 12th will be paid a dividend of 0.12 per share by the bank on Friday, November 29th. This represents a $0.48 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date is Tuesday, November 12th.

Shore Bancshares has a dividend payout ratio of 31.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Shore Bancshares to earn $1.42 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 33.8%.

Shore Bancshares Trading Down 0.6 %

SHBI stock traded down $0.09 during mid-day trading on Friday, reaching $14.45. 97,908 shares of the stock traded hands, compared to its average volume of 83,422. The stock's fifty day moving average is $14.05 and its 200-day moving average is $12.54. The company has a market cap of $481.47 million, a P/E ratio of 11.58 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 has a 52-week low of $10.06 and a 52-week high of $15.02.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Janney Montgomery Scott cut shares of Shore Bancshares from a "buy" rating to a "neutral" rating in a research report on Tuesday, July 30th. Keefe, Bruyette & Woods lifted their target price 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.

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.