Shore Bancshares Inc (NASDAQ:SHBI) to Issue Quarterly Dividend of $0.14

Shore Bancshares Inc (NASDAQ:SHBI) declared a quarterly dividend on Thursday, May 21st. Stockholders of record on Wednesday, June 3rd will be paid a dividend of 0.14 per share by the bank on Wednesday, June 17th. This represents a c) annualized dividend and a dividend 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 payout ratio of 26.8% indicating that its dividend is sufficiently covered by earnings. Equities 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 Trading Up 1.3%

Shares of Shore Bancshares stock opened at $19.95 on Friday. The stock has a market cap of $667.53 million, a P/E ratio of 10.61 and a beta of 0.83. The stock’s 50 day simple moving average is $18.96 and its 200-day simple moving average is $18.40. Shore Bancshares has a 1-year low of $14.03 and a 1-year high of $20.68. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.95 and a quick ratio of 0.94.

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

Shore Bancshares declared that its board has approved a share repurchase plan on Thursday, May 21st that allows the company to repurchase $30.00 million in outstanding shares. This repurchase authorization allows the bank to repurchase up to 4.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its stock is undervalued.

About Shore Bancshares

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.