Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) Receives $33.50 Average PT from Analysts

Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) has earned a consensus recommendation of “Hold” from the eight ratings firms that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $33.50.

A number of brokerages recently issued reports on OLBK. Janney Montgomery Scott lowered shares of Old Line Bancshares, Inc. (MD) from a “buy” rating to a “neutral” rating in a research report on Wednesday, July 24th. Zacks Investment Research lowered shares of Old Line Bancshares, Inc. (MD) from a “hold” rating to a “sell” rating in a research report on Thursday. BidaskClub upgraded shares of Old Line Bancshares, Inc. (MD) from a “sell” rating to a “hold” rating in a research report on Thursday. Raymond James lowered shares of Old Line Bancshares, Inc. (MD) from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 24th. Finally, 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.

Shares of NASDAQ OLBK opened at $29.20 on Friday. Old Line Bancshares, Inc. has a 1 year low of $24.12 and a 1 year high of $34.29. The firm’s 50 day moving average price is $27.12 and its 200 day moving average price is $26.28. The firm has a market cap of $495.18 million, a P/E ratio of 13.33 and a beta of 0.59. 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. (MD) (NASDAQ:OLBK) last announced its 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). Old Line Bancshares, Inc. (MD) had a return on equity of 9.95% and a net margin of 26.08%. The firm had revenue of $26.73 million for the quarter, compared to analyst estimates of $27.45 million. As a group, equities analysts predict that Old Line Bancshares, Inc. will post 2.2 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.64%. Old Line Bancshares, Inc. (MD)’s dividend payout ratio (DPR) is presently 21.92%.

In other Old Line Bancshares, Inc. (MD) news, Director Eric D. Hovde sold 12,500 shares of Old Line Bancshares, Inc. (MD) stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $28.57, for a total value of $357,125.00. Following the transaction, the director now owns 870 shares in the company, valued at approximately $24,855.90. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 12.36% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in OLBK. BlackRock Inc. increased its stake in Old Line Bancshares, Inc. (MD) by 5.0% during the 2nd quarter. BlackRock Inc. now owns 916,954 shares of the bank’s stock worth $24,400,000 after buying an additional 43,293 shares during the period. Mendon Capital Advisors Corp increased its position in shares of Old Line Bancshares, Inc. (MD) by 10.8% in the 2nd quarter. Mendon Capital Advisors Corp now owns 761,010 shares of the bank’s stock worth $20,250,000 after purchasing an additional 74,139 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Old Line Bancshares, Inc. (MD) by 0.7% in the 2nd quarter. Vanguard Group Inc. now owns 670,232 shares of the bank’s stock worth $17,834,000 after purchasing an additional 4,671 shares during the last quarter. RMB Capital Management LLC increased its position in shares of Old Line Bancshares, Inc. (MD) by 4.2% in the 2nd quarter. RMB Capital Management LLC now owns 565,825 shares of the bank’s stock worth $15,057,000 after purchasing an additional 22,568 shares during the last quarter. Finally, Jennison Associates LLC increased its position in shares of Old Line Bancshares, Inc. (MD) by 14.3% in the 1st quarter. Jennison Associates LLC now owns 501,440 shares of the bank’s stock worth $12,501,000 after purchasing an additional 62,682 shares during the last quarter. Institutional investors own 51.21% 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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