October 19, 2021

Stock News Alert: Shore Bancshares (NASDAQ:SHBI)

Shore Bancshares (NASDAQ:SHBI) stock observed trading -47.99% off 52-week high price. On the other end, the stock has been noted 22.02% away from low price over the last 52-weeks. The stock disclosed a move of -6.09% away from 50 day moving average and -29.85% away from 200 day moving average. Moving closer, we can see that shares have been trading -6.74% off 20-day moving average. It has market cap of $120.47M and dividend yield of 5.16%.

On July 23, 2020, Shore Bancshares (NASDAQ:SHBI) declared income from continuing operations of $5.335 million or $0.43 per diluted common share for the second quarter of 2020, compared to income from continuing operations of $3.118 million or $0.25 per diluted common share for the first quarter of 2020, and income from continuing operations of $4.228 million or $0.33 per diluted common share for the second quarter of 2019. Income from continuing operations for the first half of 2020 was $8.453 million or $0.68 per diluted common share, compared to income from continuing operations of $8.056 million or $0.63 per diluted common share for the first half of 2019.

When comparing income from continuing operations for the second quarter of 2020 to the first quarter of 2020, net income increased $2.2 million, primarily due to a decrease in noninterest expenses of $2.7 million. In addition, net interest income and noninterest income increased $513 thousand and $417 thousand, respectively, partially offset by an increase in the provision for credit losses of $650 thousand. When comparing income from continuing operations for the second quarter of 2020 to the second quarter of 2019, net income increased $1.1 million due to a decrease in noninterest expense of $1.3 million, coupled with increases in net interest income of $738 thousand and noninterest income of $160 thousand, partially offset by an increase in the provision for credit losses of $800 thousand.

The USA based company Shore Bancshares moved with change of -1.90% to $9.31 with the total traded volume of 9765 shares in recent session versus to an average volume of 34.51K. The stock was observed in the 5 days activity at -4.61%. The one month performance of stock was -8.64%. SHBI’s shares are at 3.79% for the quarter and driving a -42.46% return over the course of the past year and is now at -46.37% since this point in 2018.  Right now the stock beta is 0.75. The average volatility for the week and month was at 3.87% and 5.32% respectively. There are 12.51M shares outstanding and 12.28M shares are floated in market.