Eric D. Hovde Sells 936 Shares of Old Line Bancshares, Inc. (MD) (OLBK) Stock

Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) Director Eric D. Hovde sold 936 shares of the firm’s stock in a transaction dated Friday, November 2nd. The shares were sold at an average price of $30.26, for a total transaction of $28,323.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Shares of Old Line Bancshares, Inc. (MD) stock opened at $29.62 on Tuesday. Old Line Bancshares, Inc. has a 12-month low of $27.18 and a 12-month high of $35.72. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.97 and a quick ratio of 0.96. The stock has a market capitalization of $504.06 million, a price-to-earnings ratio of 18.99 and a beta of 0.40.

Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) last issued its earnings results on Wednesday, October 17th. The bank reported $0.57 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.58 by ($0.01). Old Line Bancshares, Inc. (MD) had a net margin of 20.78% and a return on equity of 11.68%. The company had revenue of $27.69 million during the quarter, compared to analysts’ expectations of $27.97 million. As a group, sell-side analysts predict that Old Line Bancshares, Inc. will post 2.19 earnings per share for the current year.

Institutional investors have recently modified their holdings of the business. BlackRock Inc. increased its stake in shares of Old Line Bancshares, Inc. (MD) by 100.5% during the 2nd quarter. BlackRock Inc. now owns 810,841 shares of the bank’s stock worth $28,306,000 after purchasing an additional 406,390 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Old Line Bancshares, Inc. (MD) by 56.6% during the 2nd quarter. Renaissance Technologies LLC now owns 433,240 shares of the bank’s stock worth $15,124,000 after purchasing an additional 156,540 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. increased its stake in shares of Old Line Bancshares, Inc. (MD) by 396.3% during the 2nd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 172,712 shares of the bank’s stock worth $6,029,000 after purchasing an additional 137,912 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Old Line Bancshares, Inc. (MD) by 36.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 328,239 shares of the bank’s stock worth $11,459,000 after purchasing an additional 88,103 shares in the last quarter. Finally, Millennium Management LLC increased its stake in shares of Old Line Bancshares, Inc. (MD) by 215.5% during the 2nd quarter. Millennium Management LLC now owns 121,373 shares of the bank’s stock worth $4,237,000 after purchasing an additional 82,897 shares in the last quarter. 47.88% of the stock is owned by institutional investors.

OLBK has been the subject of a number of recent analyst reports. BidaskClub upgraded shares of Old Line Bancshares, Inc. (MD) from a “sell” rating to a “hold” rating in a research report on Saturday, September 8th. Stephens set a $35.00 price objective on shares of Old Line Bancshares, Inc. (MD) and gave the company a “buy” rating in a research report on Friday, October 19th. Raymond James reduced their price objective on shares of Old Line Bancshares, Inc. (MD) from $37.00 to $35.00 and set an “outperform” rating for the company in a research report on Friday, October 19th. Finally, Zacks Investment Research upgraded shares of Old Line Bancshares, Inc. (MD) from a “sell” rating to a “hold” rating in a research report on Thursday, September 13th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $35.42.

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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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