Wall Street analysts expect that Old Line Bancshares, Inc. (NASDAQ:OLBK) will announce earnings per share (EPS) of $0.54 for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Old Line Bancshares’ earnings. The lowest EPS estimate is $0.52 and the highest is $0.56. Old Line Bancshares reported earnings per share of $0.36 during the same quarter last year, which suggests a positive year-over-year growth rate of 50%. The business is expected to report its next quarterly earnings results on Friday, August 3rd.
According to Zacks, analysts expect that Old Line Bancshares will report full-year earnings of $2.24 per share for the current year, with EPS estimates ranging from $2.22 to $2.25. For the next fiscal year, analysts forecast that the company will report earnings of $2.62 per share, with EPS estimates ranging from $2.55 to $2.66. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that cover Old Line Bancshares.
Old Line Bancshares (NASDAQ:OLBK) last announced its quarterly earnings data on Tuesday, April 17th. The bank reported $0.48 earnings per share for the quarter, hitting the consensus estimate of $0.48. Old Line Bancshares had a return on equity of 8.99% and a net margin of 20.98%. The business had revenue of $19.48 million during the quarter, compared to the consensus estimate of $19.54 million.
OLBK has been the subject of several recent analyst reports. Sandler O’Neill restated a “buy” rating and set a $34.50 price objective on shares of Old Line Bancshares in a research report on Thursday, January 25th. BidaskClub upgraded Old Line Bancshares from a “sell” rating to a “hold” rating in a research report on Wednesday, January 31st. Zacks Investment Research downgraded Old Line Bancshares from a “buy” rating to a “hold” rating in a research report on Wednesday, February 14th. Keefe, Bruyette & Woods restated a “hold” rating and set a $35.00 price objective on shares of Old Line Bancshares in a research report on Tuesday, February 27th. Finally, Hovde Group initiated coverage on Old Line Bancshares in a research report on Thursday, May 3rd. They set an “outperform” rating and a $39.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $35.63.
Shares of OLBK stock traded down $0.09 on Thursday, hitting $34.63. 23,700 shares of the company’s stock were exchanged, compared to its average volume of 44,933. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.18. Old Line Bancshares has a 12 month low of $34.69 and a 12 month high of $34.98. The company has a market cap of $436.32 million, a P/E ratio of 22.24 and a beta of 0.29.
In other news, Director Carla Hargrove Mcgill bought 5,000 shares of the company’s stock in a transaction on Monday, March 5th. The stock was purchased at an average cost of $32.57 per share, for a total transaction of $162,850.00. Following the completion of the transaction, the director now owns 22,123 shares of the company’s stock, valued at $720,546.11. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director James R. Sr Clifford, Sr. sold 1,500 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $31.94, for a total value of $47,910.00. Following the completion of the transaction, the director now owns 13,598 shares of the company’s stock, valued at $434,320.12. The disclosure for this sale can be found here. Insiders acquired 5,650 shares of company stock valued at $183,733 over the last quarter. Corporate insiders own 10.61% of the company’s stock.
Institutional investors have recently bought and sold shares of the business. Barclays PLC raised its position in Old Line Bancshares by 116.9% in the first quarter. Barclays PLC now owns 3,230 shares of the bank’s stock valued at $106,000 after purchasing an additional 1,741 shares during the last quarter. MetLife Investment Advisors LLC bought a new position in Old Line Bancshares in the fourth quarter valued at about $129,000. Mackay Shields LLC bought a new position in Old Line Bancshares in the first quarter valued at about $234,000. Two Sigma Securities LLC bought a new position in Old Line Bancshares in the fourth quarter valued at about $225,000. Finally, Cornerstone Capital Management Holdings LLC. raised its position in Old Line Bancshares by 142.2% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 10,900 shares of the bank’s stock valued at $320,000 after purchasing an additional 6,400 shares during the last quarter. Hedge funds and other institutional investors own 47.54% of the company’s stock.
About Old Line Bancshares
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.
Get a free copy of the Zacks research report on Old Line Bancshares (OLBK)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Old Line Bancshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Old Line Bancshares and related companies with MarketBeat.com's FREE daily email newsletter.