Shore Bancshares Inc (NASDAQ:SHBI) Announces $0.14 Quarterly Dividend

Shore Bancshares Inc (NASDAQ:SHBI) declared a quarterly dividend on Thursday, August 20th. Investors of record on Wednesday, September 2nd will be given a dividend of 0.14 per share by the bank on Wednesday, September 16th. This represents a c) dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Wednesday, September 2nd.

Shore Bancshares has a dividend payout ratio of 31.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Shore Bancshares to earn $2.29 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 24.5%.

Shore Bancshares Price Performance

Shore Bancshares stock opened at $23.14 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.94 and a debt-to-equity ratio of 0.14. The stock’s 50 day moving average is $23.22 and its 200-day moving average is $20.73. Shore Bancshares has a 12 month low of $14.93 and a 12 month high of $24.89. The company has a market capitalization of $772.18 million, a price-to-earnings ratio of 11.69 and a beta of 0.81.

Shore Bancshares (NASDAQ:SHBI) last issued its earnings results on Thursday, July 23rd. The bank reported $0.60 EPS for the quarter, beating the consensus estimate of $0.50 by $0.10. The company had revenue of $61.75 million during the quarter, compared to analysts’ expectations of $60.42 million. Shore Bancshares had a net margin of 19.15% and a return on equity of 12.11%. Equities research analysts expect that Shore Bancshares will post 2.26 EPS for the current year.

Shore Bancshares announced that its board has approved a share buyback plan on Thursday, May 21st that permits the company to repurchase $30.00 million in outstanding shares. This repurchase authorization permits the bank to repurchase up to 4.5% of its shares through open market purchases. Shares repurchase plans are generally an indication 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.