Shore Bancshares (NASDAQ:SHBI) Share Price Crosses Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• Shore Bancshares shares have recently traded above their 200-day moving average, reaching a high of $16.62 and last trading at $16.21.
• The company boasts a market capitalization of $541.74 million and reported a quarterly earnings per share of $0.51, exceeding analysts' estimates by $0.10.
• Insider activity is notable as a director purchased 10,000 shares at an average price of $15.00, increasing their ownership of the stock by 28.64%.

Shares of Shore Bancshares Inc (NASDAQ:SHBI - Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $15.15 and traded as high as $16.62. Shore Bancshares shares last traded at $16.21, with a volume of 97,741 shares trading hands.

Wall Street Analyst Weigh In

A number of brokerages have commented on SHBI. Wall Street Zen upgraded shares of Shore Bancshares from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Zacks Research cut shares of Shore Bancshares from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 26th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $20.00.

Shore Bancshares Price Performance

The company has a market capitalization of $541.74 million, a P/E ratio of 10.07 and a beta of 1.10. The company's 50-day moving average price is $16.45 and its two-hundred day moving average price is $15.15. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.94 and a quick ratio of 0.94.

Shore Bancshares (NASDAQ:SHBI - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The bank reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.10. The company had revenue of $56.57 million for the quarter, compared to analyst estimates of $53.77 million. Shore Bancshares had a net margin of 15.98% and a return on equity of 10.98%. As a group, sell-side analysts expect that Shore Bancshares Inc will post 1.59 EPS for the current year.

Shore Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 25th. Investors of record on Monday, August 11th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend was Monday, August 11th. Shore Bancshares's dividend payout ratio (DPR) is currently 29.81%.

Insider Buying and Selling

In other Shore Bancshares news, Director Michael Brian Adams purchased 10,000 shares of the stock in a transaction that occurred on Friday, August 1st. The shares were acquired at an average cost of $15.00 per share, with a total value of $150,000.00. Following the completion of the transaction, the director owned 44,912 shares in the company, valued at $673,680. The trade was a 28.64% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 8.69% of the company's stock.

Hedge Funds Weigh In On Shore Bancshares

A number of hedge funds have recently bought and sold shares of the business. Squarepoint Ops LLC increased its position in Shore Bancshares by 2.9% during the second quarter. Squarepoint Ops LLC now owns 71,720 shares of the bank's stock worth $1,127,000 after acquiring an additional 2,047 shares during the period. Thrivent Financial for Lutherans increased its holdings in Shore Bancshares by 44.5% in the 2nd quarter. Thrivent Financial for Lutherans now owns 67,548 shares of the bank's stock valued at $1,062,000 after buying an additional 20,786 shares during the period. State of Wyoming increased its holdings in Shore Bancshares by 150.6% in the 2nd quarter. State of Wyoming now owns 4,682 shares of the bank's stock valued at $74,000 after buying an additional 2,814 shares during the period. Tower Research Capital LLC TRC increased its holdings in Shore Bancshares by 239.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,500 shares of the bank's stock valued at $71,000 after buying an additional 3,173 shares during the period. Finally, HoldCo Asset Management LP bought a new position in Shore Bancshares in the 2nd quarter valued at about $4,215,000. 59.76% of the stock is owned by institutional investors.

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.

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