Shore Bancshares Inc (NASDAQ:SHBI) Announces Quarterly Dividend of $0.14

Shore Bancshares Inc (NASDAQ:SHBI) announced a quarterly dividend on Thursday, May 21st. Stockholders of record on Wednesday, June 3rd will be given a dividend of 0.14 per share by the bank on Wednesday, June 17th. This represents a c) dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Wednesday, June 3rd. This is a 16.7% increase from Shore Bancshares’s previous quarterly dividend of $0.12.

Shore Bancshares has a payout ratio of 26.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Shore Bancshares to earn $2.23 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 21.5%.

Shore Bancshares Stock Up 1.3%

Shore Bancshares stock opened at $19.95 on Friday. The firm has a market capitalization of $667.53 million, a P/E ratio of 10.61 and a beta of 0.83. The stock’s fifty day simple moving average is $18.96 and its 200-day simple moving average is $18.40. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.15. Shore Bancshares has a twelve month low of $14.03 and a twelve month high of $20.68.

Shore Bancshares (NASDAQ:SHBI) last posted its earnings results on Thursday, April 23rd. The bank reported $0.55 EPS for the quarter, beating the consensus estimate of $0.45 by $0.10. The firm had revenue of $59.89 million for the quarter, compared to analyst estimates of $58.35 million. Shore Bancshares had a return on equity of 11.84% and a net margin of 18.20%. As a group, equities analysts expect that Shore Bancshares will post 2.12 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Shore Bancshares

Several hedge funds have recently made changes to their positions in the business. PNC Financial Services Group Inc. boosted its stake in shares of Shore Bancshares by 20.1% during the first quarter. PNC Financial Services Group Inc. now owns 4,448 shares of the bank’s stock worth $83,000 after buying an additional 743 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Shore Bancshares by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,226 shares of the bank’s stock worth $247,000 after buying an additional 780 shares during the period. Curi Capital LLC boosted its stake in shares of Shore Bancshares by 0.5% during the second quarter. Curi Capital LLC now owns 176,046 shares of the bank’s stock worth $2,767,000 after buying an additional 882 shares during the period. Man Group plc boosted its stake in shares of Shore Bancshares by 5.0% during the fourth quarter. Man Group plc now owns 19,053 shares of the bank’s stock worth $337,000 after buying an additional 903 shares during the period. Finally, Mariner LLC boosted its stake in shares of Shore Bancshares by 8.1% during the fourth quarter. Mariner LLC now owns 14,222 shares of the bank’s stock worth $251,000 after buying an additional 1,069 shares during the period. Institutional investors and hedge funds own 59.76% of the company’s stock.

About Shore Bancshares

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.