Shore Bancshares (NASDAQ:SHBI) Stock Price Crosses Above 200-Day Moving Average - What's Next?

Shore Bancshares Inc (NASDAQ:SHBI - Get Free Report) shares crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $14.69 and traded as high as $16.40. Shore Bancshares shares last traded at $16.25, with a volume of 209,263 shares changing hands.

Shore Bancshares Price Performance

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 business's 50-day moving average is $14.83 and its two-hundred day moving average is $14.68. The company has a market capitalization of $554.44 million, a P/E ratio of 11.15 and a beta of 0.97.

Shore Bancshares (NASDAQ:SHBI - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The bank reported $0.45 earnings per share for the quarter, beating 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. As a group, analysts predict that Shore Bancshares Inc will post 1.59 earnings per share for the current year.

Shore Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 12th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date was Monday, May 12th. Shore Bancshares's payout ratio is currently 32.21%.

Insider Buying and Selling at Shore Bancshares

In related news, Director Konrad Wayson acquired 5,000 shares of the firm's stock in a transaction that occurred on Friday, May 2nd. The stock was acquired at an average price of $14.25 per share, for a total transaction of $71,250.00. Following the completion of the acquisition, the director owned 59,328 shares of the company's stock, valued at approximately $845,424. This represents a 9.20% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have bought 6,250 shares of company stock worth $89,468 over the last 90 days. 8.69% of the stock is owned by company insiders.

Institutional Trading of Shore Bancshares

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Shore Bancshares by 1.2% during the first quarter. Vanguard Group Inc. now owns 1,661,598 shares of the bank's stock worth $22,498,000 after buying an additional 19,531 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Shore Bancshares by 4.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,346,364 shares of the bank's stock worth $21,340,000 after buying an additional 57,115 shares during the last quarter. American Century Companies Inc. increased its holdings in Shore Bancshares by 26.6% during the first quarter. American Century Companies Inc. now owns 594,103 shares of the bank's stock worth $8,044,000 after buying an additional 124,921 shares during the last quarter. Northern Trust Corp increased its holdings in Shore Bancshares by 2.3% during the fourth quarter. Northern Trust Corp now owns 278,425 shares of the bank's stock worth $4,413,000 after buying an additional 6,335 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in Shore Bancshares during the first quarter worth about $3,716,000. Hedge funds and other institutional investors own 59.76% of the company's stock.

About Shore Bancshares

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.