Zacks: Analysts Expect Old Line Bancshares, Inc. (MD) (OLBK) Will Announce Quarterly Sales of $19.54 Million

Equities analysts predict that Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) will post sales of $19.54 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Old Line Bancshares, Inc. (MD)’s earnings. The highest sales estimate is $19.87 million and the lowest is $19.21 million. Old Line Bancshares, Inc. (MD) posted sales of $16.02 million in the same quarter last year, which suggests a positive year-over-year growth rate of 22%. The firm is scheduled to announce its next earnings results on Friday, May 4th.

According to Zacks, analysts expect that Old Line Bancshares, Inc. (MD) will report full year sales of $19.54 million for the current year, with estimates ranging from $99.48 million to $100.70 million. For the next year, analysts anticipate that the company will post sales of $119.51 million per share, with estimates ranging from $118.51 million to $120.50 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for Old Line Bancshares, Inc. (MD).

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

Several equities analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of Old Line Bancshares, Inc. (MD) from a “buy” rating to a “hold” rating in a research note on Wednesday, February 14th. BidaskClub upgraded shares of Old Line Bancshares, Inc. (MD) from a “hold” rating to a “buy” rating in a research note on Tuesday, February 6th. Sandler O’Neill reiterated a “buy” rating and issued a $34.50 target price on shares of Old Line Bancshares, Inc. (MD) in a research note on Thursday, January 25th. ValuEngine cut shares of Old Line Bancshares, Inc. (MD) from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $31.00 price objective on shares of Old Line Bancshares, Inc. (MD) in a research note on Thursday, October 26th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $33.17.

In related news, Director James F. Dent sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $31.65, for a total transaction of $31,650.00. Following the completion of the transaction, the director now owns 61,992 shares of the company’s stock, valued at $1,962,046.80. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 25.07% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the stock. MetLife Investment Advisors LLC purchased a new position in Old Line Bancshares, Inc. (MD) during the fourth quarter valued at approximately $129,000. Ameriprise Financial Inc. purchased a new position in Old Line Bancshares, Inc. (MD) during the second quarter valued at approximately $201,000. Advisor Group Inc. grew its stake in Old Line Bancshares, Inc. (MD) by 89.0% during the third quarter. Advisor Group Inc. now owns 7,230 shares of the bank’s stock valued at $202,000 after acquiring an additional 3,405 shares in the last quarter. Two Sigma Securities LLC purchased a new position in Old Line Bancshares, Inc. (MD) in the 4th quarter worth approximately $225,000. Finally, The Manufacturers Life Insurance Company grew its stake in Old Line Bancshares, Inc. (MD) by 6.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,950 shares of the bank’s stock worth $224,000 after buying an additional 516 shares in the last quarter. 42.92% of the stock is owned by institutional investors.

Old Line Bancshares, Inc. (NASDAQ:OLBK) traded down $0.55 on Thursday, hitting $31.51. 30,002 shares of the stock traded hands, compared to its average volume of 28,385. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.94 and a quick ratio of 0.94. Old Line Bancshares, Inc. has a 52-week low of $26.01 and a 52-week high of $32.13.

TRADEMARK VIOLATION WARNING: “Zacks: Analysts Expect Old Line Bancshares, Inc. (MD) (OLBK) Will Announce Quarterly Sales of $19.54 Million” was published by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are viewing this piece of content on another publication, it was copied illegally and republished in violation of United States & international trademark and copyright law. The original version of this piece of content can be read at https://www.dispatchtribunal.com/2018/02/20/zacks-analysts-expect-old-line-bancshares-inc-md-olbk-will-announce-quarterly-sales-of-19-54-million.html.

Old Line Bancshares, Inc. (MD) Company Profile

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.

Get a free copy of the Zacks research report on Old Line Bancshares, Inc. (MD) (OLBK)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK)

Receive News & Ratings for Old Line Bancshares Inc. (MD) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Old Line Bancshares Inc. (MD) and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply