Shore Bancshares (SHBI) Projected to Post Quarterly Earnings on Wednesday

Shore Bancshares (NASDAQ:SHBI) is projected to post its quarterly earnings results before the market opens on Wednesday, January 29th. Analysts expect Shore Bancshares to post earnings of $0.35 per share and revenue of $43,450.00 billion for the quarter.

Shore Bancshares Stock Performance

NASDAQ SHBI opened at $15.73 on Wednesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.94 and a quick ratio of 0.93. Shore Bancshares has a 1-year low of $10.06 and a 1-year high of $17.61. The firm has a market capitalization of $524.28 million, a P/E ratio of 12.58 and a beta of 0.97. The business’s 50-day simple moving average is $16.14 and its 200-day simple moving average is $14.67.

Shore Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Tuesday, November 12th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $0.48 dividend on an annualized basis and a yield of 3.05%. Shore Bancshares’s dividend payout ratio (DPR) is 38.40%.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods raised shares of Shore Bancshares from a “market perform” rating to an “outperform” rating and raised their target price for the company from $16.00 to $20.00 in a research note on Wednesday, December 4th.

Insider Activity

In other news, Director Konrad Wayson bought 3,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was acquired at an average cost of $16.94 per share, for a total transaction of $50,820.00. Following the completion of the purchase, the director now owns 53,266 shares of the company’s stock, valued at $902,326.04. This trade represents a 5.97 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 8.57% 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.