Shore Bancshares (NASDAQ:SHBI) Shares Pass Above 200-Day Moving Average - Time to Sell?

Shore Bancshares Inc (NASDAQ:SHBI - Get Free Report) shares passed 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 traded.

Shore Bancshares Stock Up 1.7%

The business has a 50 day moving average of $14.76 and a two-hundred day moving average of $14.69. The stock has a market capitalization of $554.44 million, a PE ratio of 11.15 and a beta of 0.97. 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 announced its earnings results on Tuesday, April 29th. The bank reported $0.45 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 business had revenue of $53.03 million during the quarter, compared to the consensus estimate of $50.78 million. Analysts predict that Shore Bancshares Inc will post 1.59 EPS for the current year.

Shore Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Stockholders 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 presently 32.21%.

Insider Buying and Selling at Shore Bancshares

In other Shore Bancshares news, Director Konrad Wayson bought 5,000 shares of the company's stock in a transaction that occurred 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 purchase, the director directly owned 59,328 shares in the company, valued at $845,424. This represents a 9.20% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders acquired 6,250 shares of company stock valued at $89,468. 8.69% of the stock is owned by company insiders.

Institutional Investors Weigh In On Shore Bancshares

Several institutional investors have recently added to or reduced their stakes in SHBI. Goldman Sachs Group Inc. boosted its stake in Shore Bancshares by 18.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 219,494 shares of the bank's stock worth $2,972,000 after purchasing an additional 34,453 shares in the last quarter. Strs Ohio purchased a new position in shares of Shore Bancshares in the first quarter worth $213,000. Acadian Asset Management LLC lifted its stake in shares of Shore Bancshares by 55.2% during the first quarter. Acadian Asset Management LLC now owns 104,798 shares of the bank's stock worth $1,417,000 after buying an additional 37,267 shares during the period. Jane Street Group LLC purchased a new stake in shares of Shore Bancshares during the first quarter valued at $545,000. Finally, Empowered Funds LLC grew its holdings in shares of Shore Bancshares by 126.5% during the first quarter. Empowered Funds LLC now owns 78,095 shares of the bank's stock valued at $1,057,000 after buying an additional 43,613 shares during the last quarter. Institutional investors and hedge funds 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.