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

Shore Bancshares Inc (NASDAQ:SHBI) declared a quarterly dividend on Wednesday, February 18th. Investors 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) dividend on an annualized basis and a dividend yield of 2.4%. 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. Research 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 Price Performance

NASDAQ SHBI opened at $19.65 on Thursday. Shore Bancshares has a 1 year low of $11.47 and a 1 year high of $20.68. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.16. The company has a market cap of $656.90 million, a P/E ratio of 11.04 and a beta of 0.92. The company has a fifty day simple moving average of $18.66 and a 200 day simple moving average of $17.23.

Shore Bancshares (NASDAQ:SHBI) last issued its quarterly earnings results 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 return on equity of 11.62% and a net margin of 17.36%.The company had revenue of $59.20 million for the quarter, compared to the consensus estimate of $57.55 million. On average, sell-side analysts predict that Shore Bancshares will post 1.59 EPS for the current year.

Analyst Ratings Changes

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