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

Shore Bancshares, Inc. (NASDAQ:SHBI) announced a quarterly dividend on Wednesday, October 30th,Zacks Dividends reports. Investors 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 of this dividend is Tuesday, November 12th.

Shore Bancshares has a dividend payout ratio of 31.8% indicating that its dividend is sufficiently covered by earnings. Equities 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 Price Performance

Shore Bancshares stock opened at $16.10 on Friday. The stock has a market cap of $536.39 million, a price-to-earnings ratio of 12.88 and a beta of 0.95. 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 business has a 50-day simple moving average of $14.18 and a 200 day simple moving average of $12.76. Shore Bancshares has a 52 week low of $10.06 and a 52 week high of $16.61.

Analyst Upgrades and Downgrades

SHBI has been the subject of several research analyst reports. Janney Montgomery Scott lowered shares of Shore Bancshares from a “buy” rating to a “neutral” rating in a research report on Tuesday, July 30th. Keefe, Bruyette & Woods lifted their price objective on shares of Shore Bancshares from $13.00 to $15.00 and gave the stock a “market perform” rating in a report on Friday, July 26th.

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.