Shore Bancshares Inc (SHBI) to Issue Quarterly Dividend of $0.12 on November 26th

Shore Bancshares Inc (NASDAQ:SHBI) declared a quarterly dividend on Monday, November 3rd. Shareholders of record on Thursday, November 13th will be paid a dividend of 0.12 per share by the bank on Wednesday, November 26th. This represents a c) annualized dividend and a yield of 3.0%. The ex-dividend date is Thursday, November 13th.

Shore Bancshares has raised its dividend by an average of 0.0%per year over the last three years. Shore Bancshares has a payout ratio of 26.8% indicating that its dividend is sufficiently covered by earnings. Equities 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 Trading Up 0.5%

Shares of NASDAQ:SHBI opened at $15.77 on Wednesday. The stock has a market capitalization of $526.99 million, a price-to-earnings ratio of 9.28 and a beta of 1.10. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.94 and a current ratio of 0.94. The stock’s 50-day simple moving average is $16.45 and its two-hundred day simple moving average is $15.67. Shore Bancshares has a 52-week low of $11.47 and a 52-week high of $17.67.

Shore Bancshares (NASDAQ:SHBI) last announced its earnings results on Monday, September 19th. The bank reported $0.37 earnings per share (EPS) for the quarter. Shore Bancshares had a return on equity of 11.37% and a net margin of 16.78%.The business had revenue of $16.91 million for the quarter. Analysts expect that Shore Bancshares will post 1.59 EPS for the current year.

Hedge Funds Weigh In On Shore Bancshares

Large investors have recently modified their holdings of the stock. IFP Advisors Inc increased its position in shares of Shore Bancshares by 31,320.0% during the 2nd quarter. IFP Advisors Inc now owns 1,571 shares of the bank’s stock valued at $25,000 after purchasing an additional 1,566 shares during the last quarter. EverSource Wealth Advisors LLC bought a new position in shares of Shore Bancshares during the 2nd quarter valued at approximately $31,000. PNC Financial Services Group Inc. increased its position in shares of Shore Bancshares by 108.4% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,020 shares of the bank’s stock valued at $47,000 after purchasing an additional 1,571 shares during the last quarter. Federated Hermes Inc. increased its position in shares of Shore Bancshares by 168.7% during the 3rd quarter. Federated Hermes Inc. now owns 3,471 shares of the bank’s stock valued at $57,000 after purchasing an additional 2,179 shares during the last quarter. Finally, Financial Consulate Inc. bought a new position in shares of Shore Bancshares during the 3rd quarter valued at approximately $71,000. Institutional investors own 59.76% of the company’s stock.

Shore Bancshares Company Profile

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.