Shore Bancshares, Inc. (NASDAQ:SHBI - Get Free Report) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $15.04 and traded as high as $16.49. Shore Bancshares shares last traded at $16.25, with a volume of 159,196 shares trading hands.
Wall Street Analysts Forecast Growth
A number of research firms have weighed in on SHBI. Piper Sandler began coverage on shares of Shore Bancshares in a research note on Thursday, February 6th. They issued an "overweight" rating and a $20.00 target price on the stock. Keefe, Bruyette & Woods upgraded shares of Shore Bancshares from a "market perform" rating to an "outperform" rating and upped their price target for the company from $16.00 to $20.00 in a research note on Wednesday, December 4th.
Read Our Latest Stock Report on SHBI
Shore Bancshares Stock Down 3.9 %
The company has a market capitalization of $509.95 million, a PE ratio of 11.50 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 stock's 50 day moving average is $15.88 and its 200 day moving average is $15.11.
Shore Bancshares (NASDAQ:SHBI - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The bank reported $0.44 EPS for the quarter, beating analysts' consensus estimates of $0.35 by $0.09. Shore Bancshares had a net margin of 13.44% and a return on equity of 10.40%. On average, sell-side analysts anticipate that Shore Bancshares, Inc. will post 1.59 EPS for the current fiscal year.
Shore Bancshares Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Thursday, February 13th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date of this dividend is Thursday, February 13th. Shore Bancshares's payout ratio is 36.09%.
Insider Transactions at Shore Bancshares
In related news, Director Konrad Wayson purchased 3,000 shares of the firm's stock in a transaction dated Monday, November 25th. The shares were purchased at an average price of $16.94 per share, with a total value of $50,820.00. Following the acquisition, the director now directly owns 53,266 shares of the company's stock, valued at approximately $902,326.04. This represents 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 the SEC website. Insiders own 8.57% of the company's stock.
Hedge Funds Weigh In On Shore Bancshares
Several institutional investors and hedge funds have recently made changes to their positions in SHBI. Investment Management Corp VA ADV bought a new position in shares of Shore Bancshares during the 4th quarter valued at $38,000. Russell Investments Group Ltd. grew its holdings in shares of Shore Bancshares by 43,326.3% during the 4th quarter. Russell Investments Group Ltd. now owns 8,251 shares of the bank's stock valued at $131,000 after purchasing an additional 8,232 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Shore Bancshares during the 3rd quarter valued at $156,000. Occudo Quantitative Strategies LP bought a new position in shares of Shore Bancshares during the 4th quarter valued at $179,000. Finally, Jump Financial LLC bought a new position in shares of Shore Bancshares during the 4th quarter valued at $201,000. Institutional investors own 59.76% of the company's stock.
About Shore Bancshares
(
Get Free Report)
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.
Further Reading
Before you consider Shore Bancshares, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Shore Bancshares wasn't on the list.
While Shore Bancshares currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Almost everyone loves strong dividend-paying stocks, but high yields can signal danger. Discover 20 high-yield dividend stocks paying an unsustainably large percentage of their earnings. Enter your email to get this report and avoid a high-yield dividend trap.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
