Old Line Bancshares (OLBK) Hits New 1-Year High and Low at $33.96

Old Line Bancshares, Inc. (NASDAQ:OLBK) reached a new 52-week high and low on Monday . The stock traded as low as $33.96 and last traded at $33.83, with a volume of 58060 shares traded. The stock had previously closed at $32.36.

Several research firms have weighed in on OLBK. BidaskClub upgraded shares of Old Line Bancshares from a “buy” rating to a “strong-buy” rating in a report on Tuesday, March 27th. Zacks Investment Research lowered shares of Old Line Bancshares from a “hold” rating to a “sell” rating in a report on Wednesday, March 28th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $35.00 target price on shares of Old Line Bancshares in a report on Tuesday, February 27th. Finally, Sandler O’Neill reiterated a “buy” rating and issued a $34.50 target price on shares of Old Line Bancshares in a report on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $34.50.

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The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.94 and a current ratio of 0.94. The firm has a market capitalization of $406.66, a price-to-earnings ratio of 21.56 and a beta of 0.28.

Old Line Bancshares (NASDAQ:OLBK) last posted its earnings results on Tuesday, January 23rd. The bank reported $0.42 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.03). The firm had revenue of $19.03 million during the quarter, compared to analyst estimates of $19.88 million. Old Line Bancshares had a return on equity of 8.52% and a net margin of 19.60%. equities research analysts expect that Old Line Bancshares, Inc. will post 2.22 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, March 30th. Shareholders of record on Friday, March 16th were issued a $0.08 dividend. The ex-dividend date of this dividend was Thursday, March 15th. This represents a $0.32 annualized dividend and a yield of 0.95%. Old Line Bancshares’s dividend payout ratio (DPR) is presently 20.51%.

In related news, Director James R. Sr Clifford, Sr. sold 1,500 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $31.94, for a total transaction of $47,910.00. Following the sale, the director now directly owns 13,598 shares in the company, valued at $434,320.12. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Carla Hargrove Mcgill acquired 5,000 shares of the company’s stock in a transaction that occurred on Monday, March 5th. The shares were bought at an average price of $32.57 per share, for a total transaction of $162,850.00. Following the completion of the acquisition, the director now owns 22,123 shares of the company’s stock, valued at $720,546.11. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 6,477 shares of company stock worth $209,403. Company insiders own 25.07% of the company’s stock.

Large investors have recently modified their holdings of the stock. MetLife Investment Advisors LLC acquired a new stake in shares of Old Line Bancshares during the fourth quarter worth $129,000. Two Sigma Securities LLC acquired a new stake in shares of Old Line Bancshares during the fourth quarter worth $225,000. Cornerstone Capital Management Holdings LLC. raised its holdings in shares of Old Line Bancshares by 142.2% during the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 10,900 shares of the bank’s stock worth $320,000 after acquiring an additional 6,400 shares during the period. OxFORD Asset Management LLP raised its holdings in shares of Old Line Bancshares by 21.6% during the third quarter. OxFORD Asset Management LLP now owns 14,910 shares of the bank’s stock worth $419,000 after acquiring an additional 2,646 shares during the period. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of Old Line Bancshares during the fourth quarter worth $439,000. Institutional investors and hedge funds own 47.37% of the company’s stock.

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Old Line Bancshares Company Profile

Old Line Bancshares, Inc operates as the bank holding company for Old Line Bank that provides banking products and services to small and medium size businesses, entrepreneurs, professionals, consumers, and high net worth clients. The company accepts a range of deposit products, including demand, NOW, money market, and savings accounts, as well as certificates of deposit.

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