Brokerages Anticipate Old Line Bancshares, Inc. (MD) (OLBK) to Announce $0.49 EPS

Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) has received a consensus broker rating score of 1.75 (Buy) from the four brokers that provide coverage for the stock, Zacks Investment Research reports. One research analyst has rated the stock with a hold rating, one has issued a buy rating and two have given a strong buy rating to the company. Old Line Bancshares, Inc. (MD)’s rating score has declined by 9.4% in the last three months as a result of a number of analysts’ upgrades and downgrades.

Brokerages have set a 12 month consensus price target of $34.00 for the company and are expecting that the company will post $0.49 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Old Line Bancshares, Inc. (MD) an industry rank of 15 out of 265 based on the ratings given to its competitors.

OLBK has been the topic of a number of recent analyst reports. ValuEngine cut Old Line Bancshares, Inc. (MD) from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Zacks Investment Research raised Old Line Bancshares, Inc. (MD) from a “hold” rating to a “buy” rating and set a $33.00 price target on the stock in a report on Wednesday, November 29th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $31.00 price target on shares of Old Line Bancshares, Inc. (MD) in a report on Thursday, October 26th. BidaskClub cut Old Line Bancshares, Inc. (MD) from a “hold” rating to a “sell” rating in a report on Thursday, January 11th. Finally, Sandler O’Neill reissued a “buy” rating and set a $34.50 price target on shares of Old Line Bancshares, Inc. (MD) in a report on Thursday, January 25th.

Shares of Old Line Bancshares, Inc. (OLBK) traded down $0.71 during trading on Monday, reaching $31.04. The company had a trading volume of 28,953 shares, compared to its average volume of 28,640. Old Line Bancshares, Inc. has a one year low of $26.01 and a one year high of $31.96. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.19.

Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) last posted its quarterly earnings results on Tuesday, January 23rd. The bank reported $0.42 EPS for the quarter, missing the Zacks’ consensus estimate of $0.45 by ($0.03). The business had revenue of $19.03 million for the quarter, compared to the consensus estimate of $19.88 million. Old Line Bancshares, Inc. (MD) had a net margin of 19.60% and a return on equity of 8.94%. analysts forecast that Old Line Bancshares, Inc. will post 2.24 earnings per share for the current year.

In other news, EVP Joseph E. Burnett acquired 9,800 shares of the business’s stock in a transaction dated Monday, November 13th. The stock was purchased at an average price of $7.75 per share, for a total transaction of $75,950.00. Following the completion of the transaction, the executive vice president now directly owns 63,794 shares in the company, valued at approximately $494,403.50. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Director James F. Dent sold 1,000 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $31.65, for a total value of $31,650.00. Following the transaction, the director now owns 61,992 shares of the company’s stock, valued at approximately $1,962,046.80. The disclosure for this sale can be found here. Over the last three months, insiders have acquired 10,920 shares of company stock worth $110,394. Insiders own 25.07% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Old Line Bancshares, Inc. (MD) by 1.5% during the second quarter. Vanguard Group Inc. now owns 323,213 shares of the bank’s stock valued at $9,108,000 after purchasing an additional 4,836 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Old Line Bancshares, Inc. (MD) by 11.9% during the third quarter. Dimensional Fund Advisors LP now owns 178,141 shares of the bank’s stock valued at $4,988,000 after purchasing an additional 18,993 shares in the last quarter. State Street Corp grew its position in shares of Old Line Bancshares, Inc. (MD) by 28.2% during the second quarter. State Street Corp now owns 165,433 shares of the bank’s stock valued at $4,662,000 after purchasing an additional 36,434 shares in the last quarter. Castine Capital Management LLC purchased a new position in shares of Old Line Bancshares, Inc. (MD) during the third quarter valued at about $4,194,000. Finally, Northern Trust Corp grew its position in shares of Old Line Bancshares, Inc. (MD) by 4.2% during the second quarter. Northern Trust Corp now owns 94,335 shares of the bank’s stock valued at $2,659,000 after purchasing an additional 3,778 shares in the last quarter. Hedge funds and other institutional investors own 44.12% of the company’s stock.

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About Old Line Bancshares, Inc. (MD)

Old Line Bancshares, Inc is the holding company of Old Line Bank (The Bank). The Bank is a chartered trust company engaged in commercial banking business, making various types of loans, investments and accepting deposits. The Bank markets its financial services to small to medium sized businesses, entrepreneurs, professionals, consumers and clients.

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