Shore Bancshares (NASDAQ:SHBI) Stock Price Passes Above 200 Day Moving Average – Should You Sell?

Shore Bancshares, Inc. (NASDAQ:SHBI)’s stock price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $15.04 and traded as high as $16.49. Shore Bancshares shares last traded at $16.25, with a volume of 159,196 shares trading hands.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SHBI. Keefe, Bruyette & Woods upgraded shares of Shore Bancshares from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $16.00 to $20.00 in a report on Wednesday, December 4th. Piper Sandler initiated coverage on Shore Bancshares in a research note on Thursday, February 6th. They set an “overweight” rating and a $20.00 target price for the company.

Shore Bancshares Stock Down 1.2 %

The business’s 50 day moving average price is $15.98 and its 200-day moving average price is $15.04. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.93 and a current ratio of 0.94. The firm has a market capitalization of $541.61 million, a PE ratio of 12.22 and a beta of 0.97.

Shore Bancshares (NASDAQ:SHBI) last announced its earnings results on Thursday, January 30th. The bank reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.09. Shore Bancshares had a return on equity of 10.40% and a net margin of 13.44%. As a group, equities research analysts forecast that Shore Bancshares, Inc. will post 1.59 earnings per share for the current year.

Shore Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Thursday, February 13th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date of this dividend is Thursday, February 13th. Shore Bancshares’s dividend payout ratio (DPR) is 36.09%.

Insider Transactions at Shore Bancshares

In related news, Director Konrad Wayson acquired 3,000 shares of Shore Bancshares stock in a transaction dated Monday, November 25th. The shares were acquired at an average cost of $16.94 per share, for a total transaction of $50,820.00. Following the completion of the purchase, the director now owns 53,266 shares in the company, valued at approximately $902,326.04. The trade was a 5.97 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 8.57% of the company’s stock.

Institutional Investors Weigh In On Shore Bancshares

Large investors have recently bought and sold shares of the stock. Fourthstone LLC increased its position in shares of Shore Bancshares by 1.7% in the 3rd quarter. Fourthstone LLC now owns 3,329,922 shares of the bank’s stock valued at $46,586,000 after purchasing an additional 54,679 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of 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 purchasing an additional 57,115 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Shore Bancshares by 1.9% during the third quarter. Geode Capital Management LLC now owns 712,895 shares of the bank’s stock worth $9,976,000 after purchasing an additional 13,445 shares in the last quarter. State Street Corp lifted its holdings in Shore Bancshares by 8.5% during the 3rd quarter. State Street Corp now owns 537,140 shares of the bank’s stock worth $7,515,000 after buying an additional 41,971 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in shares of Shore Bancshares by 45.7% during the 4th quarter. American Century Companies Inc. now owns 469,182 shares of the bank’s stock worth $7,437,000 after acquiring an additional 147,148 shares in the last quarter. Hedge funds and other institutional investors own 59.76% of the company’s stock.

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.