Shore Bancshares, Inc. (SHBI) to Issue Quarterly Dividend of $0.12 on February 27th

Shore Bancshares, Inc. (NASDAQ:SHBI) announced a quarterly dividend on Monday, February 3rd,Wall Street Journal reports. Investors of record on Thursday, February 13th will be given a dividend of 0.12 per share by the bank on Thursday, February 27th. This represents a $0.48 annualized dividend and a dividend yield of 2.92%. The ex-dividend date is Thursday, February 13th.

Shore Bancshares has a dividend payout ratio of 26.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Shore Bancshares to earn $1.70 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 28.2%.

Shore Bancshares Trading Down 0.4 %

Shares of NASDAQ:SHBI opened at $16.43 on Tuesday. Shore Bancshares has a 52-week low of $10.06 and a 52-week high of $17.61. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.93 and a current ratio of 0.94. The company has a market cap of $547.61 million, a P/E ratio of 12.35 and a beta of 0.97. The stock’s 50-day moving average is $16.04 and its 200-day moving average is $14.97.

Shore Bancshares (NASDAQ:SHBI) last posted its quarterly earnings data on Thursday, January 30th. The bank reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.09. Shore Bancshares had a return on equity of 10.40% and a net margin of 13.44%. Equities research analysts predict that Shore Bancshares will post 1.51 earnings per share for the current year.

Insider Activity at Shore Bancshares

In other Shore Bancshares news, Director Konrad Wayson bought 3,000 shares of the stock in a transaction dated Monday, November 25th. The shares were bought at an average cost of $16.94 per share, with a total value of $50,820.00. Following the completion of the acquisition, 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 purchase was disclosed in a document filed with the SEC, which is accessible through this link. 8.57% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Keefe, Bruyette & Woods upgraded Shore Bancshares from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $16.00 to $20.00 in a research report on Wednesday, December 4th. Piper Sandler began coverage on shares of Shore Bancshares in a research report on Thursday, February 6th. They issued an “overweight” rating and a $20.00 price target on the 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.