Shore Bancshares (NASDAQ:SHBI) Stock Crosses Above Two Hundred Day Moving Average - What's Next?

Shore Bancshares Inc (NASDAQ:SHBI - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $14.71 and traded as high as $16.87. Shore Bancshares shares last traded at $16.70, with a volume of 156,381 shares traded.

Shore Bancshares Stock Performance

The firm has a market cap of $559.28 million, a P/E ratio of 11.25 and a beta of 0.97. The stock's 50 day moving average is $15.01 and its two-hundred day moving average is $14.71. 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 released its quarterly earnings data on Tuesday, April 29th. The bank reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.10. The company had revenue of $53.03 million for the quarter, compared to analyst estimates of $50.78 million. Shore Bancshares had a return on equity of 10.44% and a net margin of 14.91%. As a group, equities analysts predict that Shore Bancshares Inc will post 1.59 EPS for the current year.

Shore Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Monday, May 12th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 2.86%. The ex-dividend date was Monday, May 12th. Shore Bancshares's payout ratio is 32.21%.

Insider Activity

In other news, Director Konrad Wayson purchased 5,000 shares of Shore Bancshares stock in a transaction on Friday, May 2nd. The shares were purchased at an average cost of $14.25 per share, for a total transaction of $71,250.00. Following the completion of the transaction, the director directly owned 59,328 shares in the company, valued at approximately $845,424. This represents a 9.20% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders have bought 6,250 shares of company stock worth $89,468. Company insiders own 8.69% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SHBI. Investment Management Corp VA ADV acquired a new stake in Shore Bancshares in the fourth quarter worth about $38,000. Russell Investments Group Ltd. grew its position in shares of Shore Bancshares by 43,326.3% during the 4th quarter. Russell Investments Group Ltd. now owns 8,251 shares of the bank's stock worth $131,000 after buying an additional 8,232 shares during the period. AlphaQuest LLC acquired a new position in Shore Bancshares in the first quarter valued at approximately $145,000. Occudo Quantitative Strategies LP bought a new position in Shore Bancshares in the fourth quarter valued at approximately $179,000. Finally, Stoneridge Investment Partners LLC acquired a new stake in Shore Bancshares during the 1st quarter worth $158,000. 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.