Shore Bancshares Inc (SHBI) to Issue Quarterly Dividend of $0.14 on September 16th

Shore Bancshares Inc (NASDAQ:SHBI) declared a quarterly dividend on Thursday, August 20th. Investors of record on Wednesday, September 2nd will be given 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 of this dividend is Wednesday, September 2nd.

Shore Bancshares has a dividend payout ratio of 31.3% meaning 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 Price Performance

Shares of SHBI opened at $23.14 on Monday. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.14. The company’s fifty day simple moving average is $23.34 and its 200 day simple moving average is $20.86. Shore Bancshares has a 1-year low of $14.93 and a 1-year high of $24.89. The company has a market cap of $772.18 million, a price-to-earnings ratio of 11.69 and a beta of 0.81.

Shore Bancshares (NASDAQ:SHBI) last announced its quarterly earnings data on Thursday, July 23rd. The bank reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.10. The company had revenue of $61.75 million during the quarter, compared to the consensus estimate of $60.42 million. Shore Bancshares had a net margin of 19.15% and a return on equity of 12.11%. On average, research analysts forecast that Shore Bancshares will post 2.26 earnings per share for the current fiscal year.

Shore Bancshares declared that its board has approved a share repurchase program on Thursday, May 21st that allows the company to buyback $30.00 million in shares. This buyback authorization allows the bank to reacquire up to 4.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

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.