Shore Bancshares (NASDAQ:SHBI) Stock Passes Above 200 Day Moving Average - Here's What Happened

Shore Bancshares Inc (NASDAQ:SHBI - Get Free Report) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred 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.

Shore Bancshares Stock Performance

The company has a market capitalization of $489.74 million, a price-to-earnings ratio of 9.85 and a beta of 0.96. The company has a 50 day moving average price of $14.13 and a 200 day moving average price of $14.80. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.94 and a current ratio of 0.94.

Shore Bancshares (NASDAQ:SHBI - Get Free Report) last posted its earnings results on Tuesday, April 29th. The bank reported $0.45 earnings per share 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 analyst estimates of $50.78 million. Equities research analysts predict that Shore Bancshares Inc will post 1.59 earnings per share for the current fiscal year.

Shore Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Monday, May 12th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 3.27%. The ex-dividend date of this dividend was Monday, May 12th. Shore Bancshares's dividend payout ratio (DPR) is presently 32.21%.

Insider Activity at Shore Bancshares

In other news, Director Konrad Wayson acquired 5,000 shares of Shore Bancshares stock in a transaction on Friday, May 2nd. The stock was acquired at an average cost of $14.25 per share, with a total value of $71,250.00. Following the completion of the acquisition, the director now 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have bought 6,250 shares of company stock valued at $89,468 over the last ninety days. Corporate insiders own 8.69% of the company's stock.

Institutional Trading of Shore Bancshares

Several hedge funds have recently made changes to their positions in the company. Proficio Capital Partners LLC bought a new stake in Shore Bancshares in the 4th quarter valued at about $392,000. Raymond James Financial Inc. purchased a new stake in shares of Shore Bancshares during the 4th quarter valued at approximately $279,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Shore Bancshares by 152.4% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 137,599 shares of the bank's stock worth $2,181,000 after buying an additional 83,079 shares during the period. American Century Companies Inc. boosted its holdings in Shore Bancshares by 45.7% in the 4th quarter. American Century Companies Inc. now owns 469,182 shares of the bank's stock worth $7,437,000 after buying an additional 147,148 shares during the period. Finally, Hillsdale Investment Management Inc. purchased a new position in Shore Bancshares in the 4th quarter valued at approximately $2,645,000. 59.76% of the stock is currently 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.