Shore Bancshares (NASDAQ:SHBI) Shares Cross Above Two Hundred Day Moving Average of $11.99

Shore Bancshares, Inc. (NASDAQ:SHBI) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $11.99 and traded as high as $14.20. Shore Bancshares shares last traded at $13.99, with a volume of 53,183 shares trading hands.

Analyst Ratings Changes

SHBI has been the topic of a number of research analyst reports. Janney Montgomery Scott cut Shore Bancshares from a “buy” rating to a “neutral” rating in a research note on Tuesday, July 30th. Keefe, Bruyette & Woods raised their price objective 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 Stock Down 1.0 %

The company has a debt-to-equity ratio of 0.29, a current ratio of 0.94 and a quick ratio of 0.93. The company has a market capitalization of $464.80 million, a P/E ratio of 24.12 and a beta of 0.96. The company has a 50 day moving average of $13.75 and a 200-day moving average of $11.99.

Shore Bancshares (NASDAQ:SHBI) last posted its earnings results on Thursday, July 25th. The bank reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.06. The company had revenue of $50.66 million for the quarter. Shore Bancshares had a return on equity of 8.37% and a net margin of 7.18%. As a group, equities analysts anticipate that Shore Bancshares, Inc. will post 1.5 EPS for the current year.

Shore Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 12th were issued a $0.12 dividend. The ex-dividend date was Monday, August 12th. This represents a $0.48 annualized dividend and a yield of 3.43%. Shore Bancshares’s dividend payout ratio (DPR) is presently 82.76%.

Hedge Funds Weigh In On Shore Bancshares

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in Shore Bancshares by 0.7% during the first quarter. Vanguard Group Inc. now owns 1,619,605 shares of the bank’s stock valued at $18,625,000 after buying an additional 11,544 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Shore Bancshares by 12.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 57,086 shares of the bank’s stock worth $657,000 after acquiring an additional 6,321 shares in the last quarter. Empowered Funds LLC boosted its holdings in Shore Bancshares by 8.1% in the first quarter. Empowered Funds LLC now owns 130,246 shares of the bank’s stock worth $1,498,000 after acquiring an additional 9,800 shares in the last quarter. Black Maple Capital Management LP boosted its holdings in Shore Bancshares by 18.0% in the fourth quarter. Black Maple Capital Management LP now owns 25,028 shares of the bank’s stock worth $357,000 after acquiring an additional 3,821 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in Shore Bancshares by 428.0% in the first quarter. BNP Paribas Financial Markets now owns 42,829 shares of the bank’s stock worth $493,000 after acquiring an additional 34,717 shares in the last quarter. 59.76% of the stock is currently owned by hedge funds and other 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.