Shore Bancshares, Inc. to Issue Quarterly Dividend of $0.12 (NASDAQ:SHBI)

Shore Bancshares, Inc. (NASDAQ:SHBIGet Free Report) declared a quarterly dividend on Wednesday, October 30th, Zacks reports. Investors of record on Tuesday, November 12th will be given a dividend of 0.12 per share by the bank on Friday, November 29th. This represents a $0.48 annualized dividend and a dividend yield of 3.30%. The ex-dividend date of this dividend is Tuesday, November 12th.

Shore Bancshares has a payout ratio of 31.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Shore Bancshares to earn $1.42 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 33.8%.

Shore Bancshares Trading Down 0.7 %

NASDAQ SHBI opened at $14.54 on Friday. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.29. The firm has a market cap of $484.47 million, a PE ratio of 11.63 and a beta of 0.96. The company has a 50 day moving average price of $14.02 and a 200 day moving average price of $12.53. Shore Bancshares has a 52 week low of $10.06 and a 52 week high of $15.02.

Analysts Set New Price Targets

Several research firms recently commented on SHBI. Keefe, Bruyette & Woods boosted their price objective on shares of Shore Bancshares from $13.00 to $15.00 and gave the stock a “market perform” rating in a research note on Friday, July 26th. Janney Montgomery Scott downgraded shares of Shore Bancshares from a “buy” rating to a “neutral” rating in a research report on Tuesday, July 30th.

Read Our Latest Analysis on Shore Bancshares

About Shore Bancshares

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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.

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Dividend History for Shore Bancshares (NASDAQ:SHBI)

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