Shore Bancshares (NASDAQ:SHBI - Get Free Report) announced its quarterly earnings results on Tuesday. The bank reported $0.45 EPS for the quarter, beating analysts' consensus estimates of $0.35 by $0.10, Zacks reports. Shore Bancshares had a net margin of 13.44% and a return on equity of 10.40%. The company had revenue of $53.03 million for the quarter, compared to analysts' expectations of $50.78 million.
Shore Bancshares Price Performance
Shares of Shore Bancshares stock traded up $0.46 on Friday, reaching $14.37. The stock had a trading volume of 170,561 shares, compared to its average volume of 124,467. The business's 50 day moving average is $13.36 and its two-hundred day moving average is $14.99. The company has a market cap of $479.58 million, a P/E ratio of 10.80 and a beta of 0.93. Shore Bancshares has a 1 year low of $10.36 and a 1 year high of $17.61. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.23.
Shore Bancshares Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Monday, May 12th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 3.34%. The ex-dividend date is Monday, May 12th. Shore Bancshares's dividend payout ratio is presently 32.21%.
Wall Street Analyst Weigh In
Separately, Piper Sandler initiated coverage on Shore Bancshares in a research report on Thursday, February 6th. They set an "overweight" rating and a $20.00 target price on the stock.
Get Our Latest Analysis on Shore Bancshares
Insider Buying and Selling
In other news, Director Konrad Wayson purchased 5,000 shares of the business's stock in a transaction on Friday, May 2nd. The stock was purchased at an average cost of $14.25 per share, with a total value of $71,250.00. Following the acquisition, the director now directly owns 59,328 shares in the company, valued at approximately $845,424. This trade represents a 9.20 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 8.57% of the stock is currently owned by insiders.
Shore Bancshares Company Profile
(
Get Free Report)
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.
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