Shore Bancshares Inc (SHBI) To Go Ex-Dividend on June 3rd

Shore Bancshares Inc (NASDAQ:SHBI) announced a quarterly dividend on Thursday, May 21st. Stockholders 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 dividend yield of 2.7%. The ex-dividend date of this dividend 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 31.3% meaning its dividend is sufficiently covered by earnings. 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 $0.56 annual dividend with an expected future payout ratio of 25.1%.

Shore Bancshares Price Performance

SHBI opened at $20.66 on Monday. The company has a 50-day moving average of $19.29 and a 200-day moving average of $18.59. The company has a market capitalization of $691.28 million, a P/E ratio of 10.99 and a beta of 0.84. Shore Bancshares has a 1-year low of $14.25 and a 1-year high of $20.78. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.94 and a current ratio of 0.95.

Shore Bancshares (NASDAQ:SHBI) last released 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 company had revenue of $59.89 million during the quarter, compared to the consensus estimate of $58.35 million. Shore Bancshares had a net margin of 18.20% and a return on equity of 11.84%. Equities analysts expect that Shore Bancshares will post 2.12 EPS for the current fiscal year.

Shore Bancshares announced that its board has authorized a stock buyback program on Thursday, May 21st that authorizes the company to repurchase $30.00 million in shares. This repurchase authorization authorizes the bank to reacquire up to 4.6% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are 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.