Old Line Bancshares, Inc. (MD) to Post Q2 2019 Earnings of $0.63 Per Share, FIG Partners Forecasts (OLBK)

Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) – Research analysts at FIG Partners dropped their Q2 2019 earnings per share (EPS) estimates for Old Line Bancshares, Inc. (MD) in a report issued on Thursday, October 18th. FIG Partners analyst D. Bishop now anticipates that the bank will post earnings of $0.63 per share for the quarter, down from their prior forecast of $0.64. FIG Partners also issued estimates for Old Line Bancshares, Inc. (MD)’s Q3 2019 earnings at $0.67 EPS, FY2019 earnings at $2.59 EPS, Q1 2020 earnings at $0.70 EPS, Q2 2020 earnings at $0.74 EPS, Q3 2020 earnings at $0.78 EPS and FY2020 earnings at $3.03 EPS.

Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) last announced its earnings results on Wednesday, October 17th. The bank reported $0.57 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.01). The company had revenue of $27.69 million for the quarter, compared to the consensus estimate of $27.97 million. Old Line Bancshares, Inc. (MD) had a return on equity of 11.68% and a net margin of 20.78%.

Other analysts also recently issued research reports about the stock. BidaskClub raised shares of Old Line Bancshares, Inc. (MD) from a “hold” rating to a “buy” rating in a report on Tuesday, July 3rd. Sandler O’Neill downgraded shares of Old Line Bancshares, Inc. (MD) from a “buy” rating to a “hold” rating in a report on Thursday, July 26th. Finally, Zacks Investment Research raised shares of Old Line Bancshares, Inc. (MD) from a “sell” rating to a “hold” rating in a report on Wednesday, July 25th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $35.63.

Shares of OLBK stock opened at $29.16 on Friday. The stock has a market cap of $504.06 million, a P/E ratio of 14.76 and a beta of 0.30. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 0.11. Old Line Bancshares, Inc. has a 52 week low of $28.22 and a 52 week high of $35.72.

The business also recently announced a quarterly dividend, which was paid on Friday, September 28th. Investors of record on Friday, September 14th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.37%. The ex-dividend date was Thursday, September 13th. Old Line Bancshares, Inc. (MD)’s payout ratio is 25.64%.

In other Old Line Bancshares, Inc. (MD) news, Director John M. Suit II acquired 1,000 shares of the company’s stock in a transaction on Monday, July 30th. The stock was acquired at an average price of $34.50 per share, for a total transaction of $34,500.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Eric D. Hovde sold 5,000 shares of Old Line Bancshares, Inc. (MD) stock in a transaction dated Wednesday, August 1st. The stock was sold at an average price of $34.51, for a total transaction of $172,550.00. The disclosure for this sale can be found here. Insiders have sold a total of 58,152 shares of company stock valued at $1,997,064 in the last ninety days. 10.61% of the stock is currently owned by insiders.

A number of institutional investors have recently modified their holdings of OLBK. Barclays PLC raised its stake in Old Line Bancshares, Inc. (MD) by 116.9% in the 1st quarter. Barclays PLC now owns 3,230 shares of the bank’s stock worth $106,000 after purchasing an additional 1,741 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its stake in Old Line Bancshares, Inc. (MD) by 72.2% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 5,334 shares of the bank’s stock worth $186,000 after purchasing an additional 2,237 shares in the last quarter. PNC Financial Services Group Inc. acquired a new stake in Old Line Bancshares, Inc. (MD) in the 2nd quarter worth about $202,000. MetLife Investment Advisors LLC raised its stake in Old Line Bancshares, Inc. (MD) by 73.8% in the 2nd quarter. MetLife Investment Advisors LLC now owns 7,597 shares of the bank’s stock worth $265,000 after purchasing an additional 3,227 shares in the last quarter. Finally, Founders Financial Securities LLC acquired a new stake in Old Line Bancshares, Inc. (MD) in the 3rd quarter worth about $287,000. Institutional investors and hedge funds own 47.81% of the company’s stock.

About Old Line Bancshares, Inc. (MD)

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

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