Old Line Bancshares, Inc. (MD) (NASDAQ: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 research note issued to investors on Saturday, 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. “

OLBK has been the subject of several other reports. Sandler O’Neill upgraded shares of Old Line Bancshares, Inc. (MD) from a hold rating to a buy rating in a research report on Thursday, July 25th. ValuEngine raised shares of Old Line Bancshares, Inc. (MD) from a sell rating to a hold rating in a research report on Friday, July 26th. Raymond James cut shares of Old Line Bancshares, Inc. (MD) from an outperform rating to a market perform rating in a research report on Wednesday, July 24th. Keefe, Bruyette & Woods upgraded Old Line Bancshares, Inc. (MD) from a market perform rating to an outperform rating and increased their price target for the stock from $28.00 to $33.00 in a report on Thursday, July 25th. Finally, Janney Montgomery Scott lowered Old Line Bancshares, Inc. (MD) from a buy rating to a neutral rating in a research report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. Old Line Bancshares, Inc. (MD) has a consensus rating of Hold and an average price target of $34.00.

NASDAQ:OLBK opened at $28.04 on Friday. The company has a market capitalization of $476.65 million, a PE ratio of 12.80 and a beta of 0.59. The company has a 50 day simple moving average of $26.91 and a two-hundred day simple moving average of $26.26. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.95 and a current ratio of 0.96. Old Line Bancshares, Inc. has a fifty-two week low of $24.12 and a fifty-two week high of $34.87.

Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) last issued its quarterly earnings results on Tuesday, July 23rd. The bank reported $0.52 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.53 by ($0.01). The firm had revenue of $26.73 million during the quarter, compared to analyst estimates of $27.45 million. Old Line Bancshares, Inc. (MD) had a return on equity of 9.95% and a net margin of 26.08%. Research analysts predict that Old Line Bancshares, Inc. will post 2.2 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.71%. The ex-dividend date is Thursday, September 12th. Old Line Bancshares, Inc. (MD)’s dividend payout ratio (DPR) is presently 21.92%.

Institutional investors have recently bought and sold shares of the business. Wells Fargo & Company MN raised its position in shares of Old Line Bancshares, Inc. (MD) by 0.6% during the second quarter. Wells Fargo & Company MN now owns 96,498 shares of the bank’s stock worth $2,567,000 after purchasing an additional 602 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Old Line Bancshares, Inc. (MD) by 3.5% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 36,688 shares of the bank’s stock valued at $977,000 after purchasing an additional 1,230 shares in the last quarter. Bank of Montreal Can acquired a new position in Old Line Bancshares, Inc. (MD) during the second quarter worth $34,000. ClariVest Asset Management LLC raised its holdings in Old Line Bancshares, Inc. (MD) by 5.9% during the first quarter. ClariVest Asset Management LLC now owns 25,100 shares of the bank’s stock worth $626,000 after buying an additional 1,400 shares during the last quarter. Finally, Aperio Group LLC acquired a new position in Old Line Bancshares, Inc. (MD) during the second quarter worth $55,000. Hedge funds and other institutional investors own 51.21% 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.

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Analyst Recommendations for Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK)

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