Shore Bancshares (NASDAQ:SHBI) Shares Cross Above 200 Day Moving Average – Time to Sell?

Shore Bancshares Inc (NASDAQ:SHBI) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $18.14 and traded as high as $19.91. Shore Bancshares shares last traded at $19.76, with a volume of 126,333 shares.

Analysts Set New Price Targets

Several research analysts have commented on SHBI shares. Piper Sandler raised their target price on Shore Bancshares from $21.00 to $22.00 and gave the stock an “overweight” rating in a research note on Monday. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $20.00 target price on shares of Shore Bancshares in a research note on Thursday, April 9th. Zacks Research upgraded Shore Bancshares from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 28th. Hovde Group raised their target price on Shore Bancshares from $19.00 to $22.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 3rd. Finally, Weiss Ratings upgraded Shore Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, April 6th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $21.33.

Shore Bancshares Trading Up 0.1%

The firm has a fifty day simple moving average of $18.78 and a two-hundred day simple moving average of $18.14. The stock has a market cap of $661.09 million, a PE ratio of 10.51 and a beta of 0.83. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.15.

Shore Bancshares (NASDAQ:SHBI) last released its quarterly earnings results on Thursday, April 23rd. The bank reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.10. Shore Bancshares had a return on equity of 11.84% and a net margin of 18.20%.The firm had revenue of $59.89 million for the quarter, compared to analysts’ expectations of $58.35 million. As a group, equities analysts expect that Shore Bancshares Inc will post 2.12 earnings per share for the current fiscal year.

Shore Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 18th. Shareholders of record on Wednesday, March 4th were issued a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, March 4th. This represents a $0.48 annualized dividend and a dividend yield of 2.4%. Shore Bancshares’s dividend payout ratio (DPR) is presently 25.53%.

Institutional Trading of Shore Bancshares

Several institutional investors and hedge funds have recently modified their holdings of SHBI. Fourthstone LLC raised its holdings in shares of Shore Bancshares by 61.6% in the 4th quarter. Fourthstone LLC now owns 918,202 shares of the bank’s stock valued at $16,234,000 after acquiring an additional 350,012 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Shore Bancshares by 168.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 495,965 shares of the bank’s stock valued at $8,769,000 after purchasing an additional 311,266 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Shore Bancshares by 19.7% during the 3rd quarter. Wellington Management Group LLP now owns 1,065,910 shares of the bank’s stock valued at $17,492,000 after purchasing an additional 175,282 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Shore Bancshares by 143.3% during the 2nd quarter. AQR Capital Management LLC now owns 273,109 shares of the bank’s stock valued at $4,293,000 after purchasing an additional 160,850 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC increased its position in shares of Shore Bancshares by 62.6% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 386,889 shares of the bank’s stock valued at $6,349,000 after purchasing an additional 148,995 shares during the last quarter. Hedge funds and other institutional investors own 59.76% of the company’s stock.

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.