Shore Bancshares (NASDAQ:SHBI) Stock Passes Above 200 Day Moving Average of $15.80

Shore Bancshares, Inc. (NASDAQ:SHBI)’s stock price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $15.80 and traded as high as $16.37. Shore Bancshares shares last traded at $16.37, with a volume of 5 shares traded.

The company has a market cap of $207.45 million, a price-to-earnings ratio of 8.56 and a beta of 0.55. The company has a fifty day moving average price of $15.76 and a two-hundred day moving average price of $15.80. The company has a current ratio of 0.99, a quick ratio of 1.00 and a debt-to-equity ratio of 0.10.

Shore Bancshares (NASDAQ:SHBI) last announced its quarterly earnings data on Thursday, October 24th. The bank reported $0.33 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.01. Shore Bancshares had a return on equity of 12.90% and a net margin of 29.00%. The company had revenue of $15.21 million for the quarter.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Saturday, November 16th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.93%. The ex-dividend date of this dividend is Thursday, November 14th. This is a positive change from Shore Bancshares’s previous quarterly dividend of $0.10.

Large investors have recently made changes to their positions in the company. Meeder Asset Management Inc. boosted its stake in Shore Bancshares by 62.1% in the 3rd quarter. Meeder Asset Management Inc. now owns 2,057 shares of the bank’s stock valued at $32,000 after buying an additional 788 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Shore Bancshares by 1.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 100,380 shares of the bank’s stock valued at $1,640,000 after buying an additional 1,037 shares in the last quarter. Rhumbline Advisers boosted its stake in Shore Bancshares by 8.4% in the 3rd quarter. Rhumbline Advisers now owns 19,886 shares of the bank’s stock valued at $306,000 after buying an additional 1,535 shares in the last quarter. Penn Capital Management Co. Inc. boosted its stake in Shore Bancshares by 1.2% in the 2nd quarter. Penn Capital Management Co. Inc. now owns 153,194 shares of the bank’s stock valued at $2,503,000 after buying an additional 1,849 shares in the last quarter. Finally, EJF Capital LLC boosted its stake in Shore Bancshares by 0.7% in the 2nd quarter. EJF Capital LLC now owns 285,964 shares of the bank’s stock valued at $4,673,000 after buying an additional 2,113 shares in the last quarter. 64.77% of the stock is currently owned by institutional investors.

Shore Bancshares Company Profile (NASDAQ:SHBI)

Shore Bancshares, Inc operates as a bank holding company for the Shore United Bank that provides various commercial banking products and services to individuals, businesses, and other organizations. It offers various deposit products, including checking, savings, and money market accounts; and regular and IRA certificates of deposit, as well as CDARS programs and cash management services.

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