Shore Bancshares (NASDAQ:SHBI) Shares Cross Above 200 Day Moving Average - Should You Sell?

Shore Bancshares, Inc. (NASDAQ:SHBI - Get Free Report) shares crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $15.16 and traded as high as $15.24. Shore Bancshares shares last traded at $15.07, with a volume of 139,593 shares traded.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SHBI. Keefe, Bruyette & Woods raised shares of Shore Bancshares from a "market perform" rating to an "outperform" rating and boosted their target price for the stock from $16.00 to $20.00 in a report on Wednesday, December 4th. Piper Sandler initiated coverage on shares of Shore Bancshares in a research note on Thursday, February 6th. They issued an "overweight" rating and a $20.00 price objective on the stock.

Shore Bancshares Stock Performance

The stock's 50 day moving average price is $15.79 and its 200 day moving average price is $15.16. 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 company has a market capitalization of $502.24 million, a P/E ratio of 11.33 and a beta of 0.97.

Shore Bancshares (NASDAQ:SHBI - Get Free Report) last issued its earnings results on Thursday, January 30th. The bank reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.09. Shore Bancshares had a net margin of 13.44% and a return on equity of 10.40%. As a group, equities analysts expect that Shore Bancshares, Inc. will post 1.59 EPS for the current year.

Shore Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Thursday, February 13th will be issued a dividend of $0.12 per share. The ex-dividend date is Thursday, February 13th. This represents a $0.48 annualized dividend and a yield of 3.19%. Shore Bancshares's payout ratio is 36.09%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Investment Management Corp VA ADV acquired a new position in Shore Bancshares during the fourth quarter worth $38,000. Russell Investments Group Ltd. raised its holdings in Shore Bancshares by 43,326.3% during the fourth quarter. Russell Investments Group Ltd. now owns 8,251 shares of the bank's stock worth $131,000 after buying an additional 8,232 shares during the last quarter. Occudo Quantitative Strategies LP purchased a new stake in shares of Shore Bancshares in the fourth quarter valued at about $179,000. Jump Financial LLC purchased a new stake in shares of Shore Bancshares in the fourth quarter valued at about $201,000. Finally, SG Americas Securities LLC raised its holdings in shares of Shore Bancshares by 24.5% in the fourth quarter. SG Americas Securities LLC now owns 13,871 shares of the bank's stock valued at $220,000 after purchasing an additional 2,734 shares during the last quarter. Institutional investors and hedge funds 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.

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