Shore Bancshares Inc Declares Quarterly Dividend of $0.12 (NASDAQ:SHBI)

Shore Bancshares Inc (NASDAQ:SHBI) declared a quarterly dividend on Wednesday, February 18th. Shareholders of record on Wednesday, March 4th will be paid a dividend of 0.12 per share by the bank on Wednesday, March 18th. This represents a c) annualized dividend and a yield of 2.5%. The ex-dividend date is Wednesday, March 4th.

Shore Bancshares has a dividend payout ratio of 26.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Shore Bancshares to earn $1.82 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 26.4%.

Shore Bancshares Stock Down 1.0%

Shares of NASDAQ:SHBI traded down $0.19 during midday trading on Thursday, reaching $19.46. The company’s stock had a trading volume of 7,674 shares, compared to its average volume of 225,793. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.16. The firm has a 50 day moving average of $18.66 and a 200-day moving average of $17.23. The firm has a market capitalization of $650.58 million, a P/E ratio of 10.94 and a beta of 0.92. Shore Bancshares has a 12-month low of $11.47 and a 12-month high of $20.68.

Shore Bancshares (NASDAQ:SHBI) last posted its quarterly earnings data on Wednesday, January 28th. The bank reported $0.52 EPS for the quarter, topping the consensus estimate of $0.48 by $0.04. Shore Bancshares had a net margin of 17.36% and a return on equity of 11.62%. The business had revenue of $59.20 million for the quarter, compared to analyst estimates of $57.55 million. On average, research analysts anticipate that Shore Bancshares will post 1.59 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on SHBI. Piper Sandler raised their price objective on Shore Bancshares from $18.00 to $18.50 and gave the company an “overweight” rating in a research report on Friday, November 14th. Wall Street Zen downgraded Shore Bancshares from a “buy” rating to a “hold” rating in a report on Saturday, October 25th. Keefe, Bruyette & Woods upped their price target on shares of Shore Bancshares from $18.00 to $20.00 and gave the stock an “outperform” rating in a research note on Monday, February 2nd. Weiss Ratings raised shares of Shore Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday. Finally, Hovde Group lifted their target price on shares of Shore Bancshares from $19.00 to $22.00 and gave the stock an “outperform” rating in a report on Tuesday, February 3rd. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $20.17.

Shore Bancshares Company Profile

Shore Bancshares, Inc (NASDAQ: SHBI) is the bank holding company for Shore Community Bank, a commercial bank headquartered in Mount Holly, New Jersey. The company provides a full suite of banking and financial services to individuals and businesses, including deposit accounts, consumer and commercial lending, mortgage financing, and cash management solutions. Through its branch network, Shore Bancshares focuses on delivering community-oriented banking services with an emphasis on personalized customer relationships.

Shore Community Bank’s lending portfolio includes commercial real estate, construction loans, agricultural loans, small business loans under government-sponsored programs, and conventional residential mortgages.