Shore Bancshares Inc Announces Quarterly Dividend of $0.14 (NASDAQ:SHBI)

Shore Bancshares Inc (NASDAQ:SHBI) announced a quarterly dividend on Thursday, August 20th. Stockholders of record on Wednesday, September 2nd will be paid a dividend of 0.14 per share by the bank on Wednesday, September 16th. This represents a c) annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Wednesday, September 2nd.

Shore Bancshares has a dividend payout ratio of 31.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Shore Bancshares to earn $2.29 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 24.5%.

Shore Bancshares Stock Up 0.4%

SHBI opened at $23.14 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.95 and a quick ratio of 0.94. The company’s 50-day moving average is $23.22 and its 200 day moving average is $20.73. Shore Bancshares has a fifty-two week low of $14.93 and a fifty-two week high of $24.89. The firm has a market capitalization of $772.18 million, a P/E ratio of 11.69 and a beta of 0.81.

Shore Bancshares (NASDAQ:SHBI) last released its quarterly earnings results on Thursday, July 23rd. The bank reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.10. The business had revenue of $61.75 million for the quarter, compared to analysts’ expectations of $60.42 million. Shore Bancshares had a net margin of 19.15% and a return on equity of 12.11%. Research analysts expect that Shore Bancshares will post 2.26 earnings per share for the current fiscal year.

About Shore Bancshares

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.