Shore Bancshares (NASDAQ:SHBI) Shares Cross Above 200-Day Moving Average - Should You Sell?

Shore Bancshares Inc (NASDAQ:SHBI - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $14.81 and traded as high as $14.86. Shore Bancshares shares last traded at $14.57, with a volume of 150,003 shares changing hands.

Shore Bancshares Stock Up 1.3%

The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.22. The firm has a market cap of $486.87 million, a P/E ratio of 8.52 and a beta of 0.96. The stock's 50-day simple moving average is $14.04 and its 200 day simple moving average is $14.81.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.35 by $0.10. Shore Bancshares had a net margin of 14.91% and a return on equity of 10.44%. The company had revenue of $53.03 million for the quarter, compared to analysts' expectations of $50.78 million. As a group, research analysts forecast that Shore Bancshares Inc will post 1.59 EPS for the current fiscal year.

Shore Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 12th were given a dividend of $0.12 per share. The ex-dividend date was Monday, May 12th. This represents a $0.48 annualized dividend and a dividend yield of 3.29%. Shore Bancshares's dividend payout ratio is currently 32.21%.

Insider Transactions at Shore Bancshares

In other news, Director Konrad Wayson purchased 5,000 shares of Shore Bancshares stock in a transaction dated Friday, May 2nd. The stock was purchased at an average cost of $14.25 per share, for a total transaction of $71,250.00. Following the transaction, the director now directly owns 59,328 shares of the company's stock, 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 SEC, which is available through this hyperlink. Insiders purchased a total of 6,250 shares of company stock worth $89,468 in the last quarter. Insiders own 8.69% of the company's stock.

Institutional Trading of Shore Bancshares

Hedge funds have recently made changes to their positions in the stock. Investment Management Corp VA ADV purchased a new position in shares of Shore Bancshares during the fourth quarter valued at about $38,000. Russell Investments Group Ltd. increased its position in shares of Shore Bancshares by 43,326.3% during the fourth quarter. Russell Investments Group Ltd. now owns 8,251 shares of the bank's stock valued at $131,000 after buying an additional 8,232 shares during the period. AlphaQuest LLC purchased a new position in shares of Shore Bancshares during the first quarter valued at about $145,000. Occudo Quantitative Strategies LP purchased a new position in shares of Shore Bancshares during the fourth quarter valued at about $179,000. Finally, Stoneridge Investment Partners LLC purchased a new position in shares of Shore Bancshares during the first quarter valued at about $158,000. 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.