Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) Lifted 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 research note issued to investors on Wednesday, Zacks.com reports.

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. “

Several other research firms also recently commented on OLBK. ValuEngine downgraded shares of Zions Bancorporation NA from a hold rating to a sell rating in a research report on Wednesday, March 20th. BidaskClub downgraded shares of Zions Bancorporation NA from a sell rating to a strong sell rating in a research report on Friday, March 22nd. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. The stock has an average rating of Hold and a consensus target price of $34.50.

NASDAQ:OLBK traded up $0.21 during mid-day trading on Wednesday, hitting $26.36. 21,824 shares of the company’s stock were exchanged, compared to its average volume of 43,508. The stock’s 50 day moving average is $25.51. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.95 and a quick ratio of 0.95. Old Line Bancshares, Inc. has a fifty-two week low of $24.12 and a fifty-two week high of $35.50. The company has a market cap of $450.12 million, a price-to-earnings ratio of 12.04 and a beta of 0.61.

Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) last posted its earnings results on Wednesday, April 24th. The bank reported $0.50 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.04). Old Line Bancshares, Inc. (MD) had a return on equity of 10.18% and a net margin of 22.16%. The business had revenue of $26.07 million for the quarter, compared to analyst estimates of $27.17 million. On average, analysts forecast that Old Line Bancshares, Inc. will post 2.23 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were given a $0.12 dividend. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.82%. Old Line Bancshares, Inc. (MD)’s dividend payout ratio (DPR) is currently 21.92%.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Legal & General Group Plc lifted its position in shares of Old Line Bancshares, Inc. (MD) by 17.8% in the 4th quarter. Legal & General Group Plc now owns 2,758 shares of the bank’s stock worth $73,000 after purchasing an additional 416 shares during the period. PNC Financial Services Group Inc. lifted its position in shares of Old Line Bancshares, Inc. (MD) by 12.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 6,508 shares of the bank’s stock worth $171,000 after purchasing an additional 717 shares during the period. Northern Trust Corp lifted its position in shares of Old Line Bancshares, Inc. (MD) by 0.6% in the 4th quarter. Northern Trust Corp now owns 187,550 shares of the bank’s stock worth $4,936,000 after purchasing an additional 1,203 shares during the period. Prudential Financial Inc. lifted its position in shares of Old Line Bancshares, Inc. (MD) by 17.2% in the 4th quarter. Prudential Financial Inc. now owns 8,318 shares of the bank’s stock worth $219,000 after purchasing an additional 1,218 shares during the period. Finally, ClariVest Asset Management LLC lifted its position in shares of Old Line Bancshares, Inc. (MD) by 5.9% in the 1st quarter. ClariVest Asset Management LLC now owns 25,100 shares of the bank’s stock worth $626,000 after purchasing an additional 1,400 shares during the period. Hedge funds and other institutional investors own 50.35% of the company’s stock.

Old Line Bancshares, Inc. (MD) 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.

Further Reading: Current Ratio

Get a free copy of the Zacks research report on Old Line Bancshares, Inc. (MD) (OLBK)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Old Line Bancshares Inc. (MD) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Old Line Bancshares Inc. (MD) and related companies with MarketBeat.com's FREE daily email newsletter.