Shore Bancshares (NASDAQ:SHBI) Share Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

Shares of Shore Bancshares Inc (NASDAQ:SHBI) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $15.15 and traded as high as $16.62. Shore Bancshares shares last traded at $16.21, with a volume of 97,741 shares changing hands.

Analyst Upgrades and Downgrades

Several research firms have commented on SHBI. Zacks Research lowered shares of Shore Bancshares from a “strong-buy” rating to a “hold” rating in a report on Friday, September 26th. Wall Street Zen raised shares of Shore Bancshares from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Shore Bancshares currently has an average rating of “Moderate Buy” and a consensus target price of $20.00.

Shore Bancshares Trading Down 1.2%

The business’s 50 day moving average price is $16.45 and its two-hundred day moving average price is $15.15. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $541.74 million, a price-to-earnings ratio of 10.07 and a beta of 1.10.

Shore Bancshares (NASDAQ:SHBI) last posted its quarterly earnings results on Thursday, July 24th. The bank reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.10. Shore Bancshares had a net margin of 15.98% and a return on equity of 10.98%. The company had revenue of $56.57 million for the quarter, compared to the consensus estimate of $53.77 million. On average, equities analysts predict that Shore Bancshares Inc will post 1.59 earnings per share for the current fiscal year.

Shore Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 25th. Investors of record on Monday, August 11th were given a dividend of $0.12 per share. The ex-dividend date was Monday, August 11th. This represents a $0.48 annualized dividend and a yield of 3.0%. Shore Bancshares’s dividend payout ratio (DPR) is currently 29.81%.

Insider Buying and Selling

In other Shore Bancshares news, Director Michael Brian Adams bought 10,000 shares of the business’s stock in a transaction that occurred on Friday, August 1st. The shares were acquired at an average cost of $15.00 per share, for a total transaction of $150,000.00. Following the transaction, the director directly owned 44,912 shares in the company, valued at approximately $673,680. This represents a 28.64% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.69% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Shore Bancshares

Several hedge funds have recently added to or reduced their stakes in SHBI. Squarepoint Ops LLC lifted its position in shares of Shore Bancshares by 2.9% in the 2nd quarter. Squarepoint Ops LLC now owns 71,720 shares of the bank’s stock worth $1,127,000 after purchasing an additional 2,047 shares during the period. Thrivent Financial for Lutherans increased its stake in shares of Shore Bancshares by 44.5% in the 2nd quarter. Thrivent Financial for Lutherans now owns 67,548 shares of the bank’s stock valued at $1,062,000 after acquiring an additional 20,786 shares in the last quarter. State of Wyoming increased its stake in shares of Shore Bancshares by 150.6% in the 2nd quarter. State of Wyoming now owns 4,682 shares of the bank’s stock valued at $74,000 after acquiring an additional 2,814 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in Shore Bancshares by 239.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,500 shares of the bank’s stock valued at $71,000 after purchasing an additional 3,173 shares in the last quarter. Finally, HoldCo Asset Management LP bought a new stake in Shore Bancshares during the 2nd quarter valued at $4,215,000. 59.76% of the stock is currently owned by institutional investors and hedge funds.

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.