Shore Bancshares (NASDAQ:SHBI) Stock Crosses Above Two Hundred Day Moving Average - Should You Sell?

Shares of Shore Bancshares, Inc. (NASDAQ:SHBI - Get Free Report) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $12.89 and traded as high as $16.63. Shore Bancshares shares last traded at $16.25, with a volume of 107,429 shares traded.

Analyst Ratings Changes

Several research firms have recently commented on SHBI. Keefe, Bruyette & Woods raised their price objective on shares of 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 lowered shares of Shore Bancshares from a "buy" rating to a "neutral" rating in a research note on Tuesday, July 30th.

Shore Bancshares Stock Up 0.1 %

The business's 50 day moving average is $14.37 and its 200-day moving average is $12.91. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.94 and a quick ratio of 0.93. The company has a market cap of $541.95 million, a PE ratio of 13.01 and a beta of 0.95.

Shore Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Tuesday, November 12th will be paid a $0.12 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $0.48 dividend on an annualized basis and a yield of 2.95%. Shore Bancshares's dividend payout ratio is currently 38.40%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SHBI. Fourthstone LLC increased its holdings in shares of 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 during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Shore Bancshares by 2.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 86,435 shares of the bank's stock valued at $1,209,000 after purchasing an additional 2,231 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Shore Bancshares in the 3rd quarter valued at about $763,000. Thrivent Financial for Lutherans grew its stake in Shore Bancshares by 53.9% in the 3rd quarter. Thrivent Financial for Lutherans now owns 72,458 shares of the bank's stock valued at $1,013,000 after acquiring an additional 25,370 shares during the last quarter. Finally, Curi RMB Capital LLC grew its stake in Shore Bancshares by 13.8% in the 3rd quarter. Curi RMB Capital LLC now owns 175,164 shares of the bank's stock valued at $2,451,000 after acquiring an additional 21,191 shares during 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.