Old Line Bancshares, Inc. (MD) (OLBK) Raised to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) from a sell rating to a hold rating in a report issued on Saturday morning.

According to Zacks, “Old Line Bancshares is the parent company of Old Line Bank, a Maryland chartered commercial bank headquartered in Waldorf, Maryland. Old Line Bank’s primary market area is the suburban Maryland (Washington, D.C. suburbs) counties of Prince George’s, Charles and northern St. Mary’s. It also targets customers throughout the greater Washington, D.C. metropolitan area. “

OLBK has been the topic of several other reports. BidaskClub upgraded Old Line Bancshares, Inc. (MD) from a sell rating to a hold rating in a report on Saturday, September 8th. Sandler O’Neill cut Old Line Bancshares, Inc. (MD) from a buy rating to a hold rating in a report on Thursday, July 26th. Stephens set a $35.00 target price on Old Line Bancshares, Inc. (MD) and gave the company a buy rating in a report on Friday, October 19th. Finally, Raymond James reduced their target price on Old Line Bancshares, Inc. (MD) from $37.00 to $35.00 and set an outperform rating on the stock in a report on Friday, October 19th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $35.42.

NASDAQ:OLBK opened at $29.73 on Friday. The stock has a market cap of $504.06 million, a PE ratio of 19.06 and a beta of 0.40. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 0.11. Old Line Bancshares, Inc. has a 1-year low of $27.18 and a 1-year high of $35.72.

Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) last released its quarterly earnings results on Wednesday, October 17th. The bank reported $0.57 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by ($0.01). The firm 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%. As a group, sell-side analysts anticipate that Old Line Bancshares, Inc. will post 2.19 earnings per share for the current year.

In related news, COO Mark A. Semanie bought 1,000 shares of Old Line Bancshares, Inc. (MD) stock in a transaction that occurred on Thursday, October 25th. The shares were acquired at an average cost of $27.75 per share, for a total transaction of $27,750.00. Following the completion of the acquisition, the chief operating officer now directly owns 15,688 shares of the company’s stock, valued at approximately $435,342. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Eric D. Hovde sold 5,796 shares of the company’s stock in a transaction that occurred on Friday, August 10th. The shares were sold at an average price of $34.83, for a total value of $201,874.68. The disclosure for this sale can be found here. Over the last quarter, insiders purchased 1,446 shares of company stock worth $41,714 and sold 53,469 shares worth $1,823,613. Corporate insiders own 10.61% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC acquired a new position in Old Line Bancshares, Inc. (MD) in the third quarter valued at approximately $201,000. Deroy & Devereaux Private Investment Counsel Inc. lifted its stake in Old Line Bancshares, Inc. (MD) by 49.1% in the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 257,582 shares of the bank’s stock valued at $8,150,000 after buying an additional 84,870 shares during the period. Russell Investments Group Ltd. lifted its stake in Old Line Bancshares, Inc. (MD) by 33.4% in the third quarter. Russell Investments Group Ltd. now owns 23,963 shares of the bank’s stock valued at $759,000 after buying an additional 5,997 shares during the period. First Trust Advisors LP lifted its stake in Old Line Bancshares, Inc. (MD) by 28.8% in the third quarter. First Trust Advisors LP now owns 47,026 shares of the bank’s stock valued at $1,488,000 after buying an additional 10,528 shares during the period. Finally, Founders Financial Securities LLC acquired a new position in Old Line Bancshares, Inc. (MD) in the third quarter valued at approximately $287,000. Institutional investors and hedge funds own 47.88% 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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Analyst Recommendations for Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK)

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