Shore Bancshares Inc (SHBI) to Issue Quarterly Dividend of $0.12 on November 26th

Shore Bancshares Inc (NASDAQ:SHBI) announced a quarterly dividend on Monday, November 3rd. Shareholders of record on Thursday, November 13th will be given a dividend of 0.12 per share by the bank on Wednesday, November 26th. This represents a c) dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Thursday, November 13th.

Shore Bancshares has raised its dividend payment by an average of 0.0%per year over the last three years. Shore Bancshares has a dividend payout ratio of 26.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Shore Bancshares to earn $1.82 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 26.4%.

Shore Bancshares Trading Up 1.2%

Shares of NASDAQ:SHBI opened at $16.22 on Tuesday. The company has a 50-day simple moving average of $16.37 and a 200 day simple moving average of $15.76. Shore Bancshares has a 52-week low of $11.47 and a 52-week high of $17.67. The company has a market capitalization of $542.19 million, a P/E ratio of 9.54 and a beta of 1.10. 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) last issued its earnings results on Monday, September 19th. The bank reported $0.37 earnings per share (EPS) for the quarter. The business had revenue of $16.91 million during the quarter. Shore Bancshares had a return on equity of 11.37% and a net margin of 16.78%. Sell-side analysts forecast that Shore Bancshares will post 1.59 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on SHBI shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Shore Bancshares in a research report on Wednesday, October 8th. Zacks Research lowered Shore Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 26th. Finally, Wall Street Zen downgraded Shore Bancshares from a “buy” rating to a “hold” rating in a research report on Saturday, October 25th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, Shore Bancshares has an average rating of “Moderate Buy” and a consensus price target of $20.00.

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.