Shore Bancshares (NASDAQ:SHBI) Shares Pass Above 200 Day Moving Average - Time to Sell?

Shore Bancshares, Inc. (NASDAQ:SHBI - Get Free Report) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $14.67 and traded as high as $15.82. Shore Bancshares shares last traded at $15.73, with a volume of 123,404 shares trading hands.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods raised Shore Bancshares from a "market perform" rating to an "outperform" rating and boosted their price objective for the stock from $16.00 to $20.00 in a research report on Wednesday, December 4th.

Shore Bancshares Trading Down 1.1 %

The company has a market capitalization of $518.61 million, a price-to-earnings ratio of 12.45 and a beta of 0.97. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.93 and a current ratio of 0.94. The firm has a fifty day moving average price of $16.14 and a 200-day moving average price of $14.67.

Shore Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Tuesday, November 12th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 3.08%. The ex-dividend date of this dividend was Tuesday, November 12th. Shore Bancshares's dividend payout ratio (DPR) is presently 38.40%.

Insider Buying and Selling at Shore Bancshares

In other news, Director Konrad Wayson acquired 3,000 shares of the business's stock in a transaction dated Monday, November 25th. The stock was bought at an average cost of $16.94 per share, for a total transaction of $50,820.00. Following the completion of the transaction, the director now owns 53,266 shares of the company's stock, valued at $902,326.04. The trade was a 5.97 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 8.57% of the company's stock.

Institutional Trading of Shore Bancshares

Hedge funds have recently added to or reduced their stakes in the business. Bank of Montreal Can bought a new stake in Shore Bancshares in the second quarter valued at $899,000. Dimensional Fund Advisors LP increased its stake in Shore Bancshares by 6.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,208,740 shares of the bank's stock valued at $13,839,000 after purchasing an additional 77,961 shares in the last quarter. Fourthstone LLC lifted its position in Shore Bancshares by 1.7% in the 3rd quarter. Fourthstone LLC now owns 3,329,922 shares of the bank's stock valued at $46,586,000 after acquiring an additional 54,679 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Shore Bancshares in the third quarter worth approximately $763,000. Finally, American Century Companies Inc. grew its stake in shares of Shore Bancshares by 30.5% during the 2nd quarter. American Century Companies Inc. now owns 195,418 shares of the bank's stock valued at $2,238,000 after purchasing an additional 45,692 shares during the period. 59.76% of the stock is owned by institutional investors.

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.