Shore Bancshares, Inc. (SHBI) to Issue Quarterly Dividend of $0.12 on November 29th

Shore Bancshares, Inc. (NASDAQ:SHBI) declared a quarterly dividend on Wednesday, October 30th,Zacks Dividends reports. Stockholders of record on Tuesday, November 12th will be paid a dividend of 0.12 per share by the bank on Friday, November 29th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date is Tuesday, November 12th.

Shore Bancshares has a dividend payout ratio of 31.8% meaning its dividend is sufficiently covered by earnings. Research 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 Stock Performance

NASDAQ SHBI opened at $16.10 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.93 and a debt-to-equity ratio of 0.29. The company has a fifty day simple moving average of $14.18 and a 200 day simple moving average of $12.76. Shore Bancshares has a 12-month low of $10.06 and a 12-month high of $16.61. The company has a market cap of $536.39 million, a P/E ratio of 12.88 and a beta of 0.95.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Keefe, Bruyette & Woods raised their price target on shares of Shore Bancshares from $13.00 to $15.00 and gave the company a “market perform” rating in a research report on Friday, July 26th. Janney Montgomery Scott lowered Shore Bancshares from a “buy” rating to a “neutral” rating in a report on Tuesday, July 30th.

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.