Shore Bancshares (NASDAQ:SHBI) Stock Price Crosses Above 200-Day Moving Average – What’s Next?

Shore Bancshares Inc (NASDAQ:SHBI) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $17.58 and traded as high as $18.50. Shore Bancshares shares last traded at $18.14, with a volume of 406,033 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on SHBI shares. Weiss Ratings cut shares of Shore Bancshares from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday. 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. Finally, Hovde Group boosted their price objective on Shore Bancshares from $19.00 to $22.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 3rd. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Shore Bancshares presently has a consensus rating of “Moderate Buy” and an average price target of $20.17.

Shore Bancshares Price Performance

The stock’s 50-day moving average is $18.78 and its 200-day moving average is $17.58. The firm has a market cap of $606.24 million, a P/E ratio of 10.19 and a beta of 0.90. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.15.

Shore Bancshares (NASDAQ:SHBI) last issued its quarterly earnings results on Wednesday, January 28th. The bank reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.04. The firm had revenue of $59.20 million during the quarter, compared to the consensus estimate of $57.55 million. Shore Bancshares had a net margin of 17.36% and a return on equity of 11.50%. As a group, equities analysts anticipate that Shore Bancshares Inc will post 1.59 EPS for the current fiscal year.

Shore Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 18th. Investors of record on Wednesday, March 4th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 2.6%. The ex-dividend date was Wednesday, March 4th. Shore Bancshares’s dividend payout ratio (DPR) is presently 26.97%.

Insider Buying and Selling at Shore Bancshares

In other news, Director William E. Esham III bought 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 5th. The shares were acquired at an average cost of $19.99 per share, with a total value of $99,950.00. Following the completion of the transaction, the director directly owned 5,510 shares in the company, valued at $110,144.90. This represents a 980.39% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 8.57% of the company’s stock.

Institutional Trading of Shore Bancshares

A number of hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Shore Bancshares by 2.8% during the 3rd quarter. Vanguard Group Inc. now owns 1,781,501 shares of the bank’s stock worth $29,234,000 after purchasing an additional 48,390 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Shore Bancshares by 1.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,630,022 shares of the bank’s stock valued at $28,819,000 after purchasing an additional 20,406 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Shore Bancshares by 7.9% in the fourth quarter. Wellington Management Group LLP now owns 1,150,208 shares of the bank’s stock valued at $20,336,000 after purchasing an additional 84,298 shares in the last quarter. Fourthstone LLC lifted its position in Shore Bancshares by 61.6% in the fourth quarter. Fourthstone LLC now owns 918,202 shares of the bank’s stock worth $16,234,000 after purchasing an additional 350,012 shares during the period. Finally, Geode Capital Management LLC lifted its position in Shore Bancshares by 5.0% in the second quarter. Geode Capital Management LLC now owns 749,327 shares of the bank’s stock worth $11,782,000 after purchasing an additional 35,407 shares during the period. Institutional investors own 59.76% of the company’s stock.

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.