Why not regard this as a shear? In that case, shear is simply force over area as previously mentioned, but shear stress is 0.577 X material yield. (i.e. Energy Distortion Theory).
In practice, I found more ductile metals such as aluminum, bronze, brass, copper, etc to behave like 0.52 X yield. This idea is used extensively in the oil industry for shear load computations on knock out plugs, etc.
Works very well, well within 5% error theory verses practice.
Kenneth J Hueston, PEng
Principal
Sturni-Hueston Engineering Inc
Edmonton, Alberta Canada