Shore Bancshares Inc (SHBI) to Issue Quarterly Dividend of $0.14 on June 17th

Shore Bancshares Inc (NASDAQ:SHBI) declared a quarterly dividend on Thursday, May 21st. Investors of record on Wednesday, June 3rd will be given a dividend of 0.14 per share by the bank on Wednesday, June 17th. This represents a c) annualized dividend and a yield of 2.8%. The ex-dividend date is Wednesday, June 3rd. This is a 16.7% increase from Shore Bancshares’s previous quarterly dividend of $0.12.

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 $2.23 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 21.5%.

Shore Bancshares Price Performance

Shore Bancshares stock opened at $20.22 on Friday. Shore Bancshares has a 12 month low of $14.03 and a 12 month high of $20.69. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.15. The business’s 50 day simple moving average is $19.01 and its 200 day simple moving average is $18.41. The company has a market cap of $676.48 million, a price-to-earnings ratio of 10.76 and a beta of 0.83.

Shore Bancshares (NASDAQ:SHBI) last posted its earnings results on Thursday, April 23rd. The bank reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.10. The firm had revenue of $59.89 million for the quarter, compared to the consensus estimate of $58.35 million. Shore Bancshares had a return on equity of 11.84% and a net margin of 18.20%. Sell-side analysts forecast that Shore Bancshares will post 2.12 EPS for the current year.

Shore Bancshares Company Profile

Shore Bancshares, Inc (NASDAQ: SHBI) is the bank holding company for Shore Community Bank, a commercial bank headquartered in Mount Holly, New Jersey. The company provides a full suite of banking and financial services to individuals and businesses, including deposit accounts, consumer and commercial lending, mortgage financing, and cash management solutions. Through its branch network, Shore Bancshares focuses on delivering community-oriented banking services with an emphasis on personalized customer relationships.

Shore Community Bank’s lending portfolio includes commercial real estate, construction loans, agricultural loans, small business loans under government-sponsored programs, and conventional residential mortgages.