Zacks: Brokerages Expect Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) Will Announce Quarterly Sales of $28.38 Million

Equities analysts forecast that Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) will post sales of $28.38 million for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Old Line Bancshares, Inc. (MD)’s earnings. The lowest sales estimate is $27.57 million and the highest is $29.19 million. Old Line Bancshares, Inc. (MD) posted sales of $27.69 million during the same quarter last year, which suggests a positive year-over-year growth rate of 2.5%. The company is expected to announce its next quarterly earnings report on Wednesday, October 23rd.

According to Zacks, analysts expect that Old Line Bancshares, Inc. (MD) will report full year sales of $111.39 million for the current fiscal year, with estimates ranging from $108.27 million to $114.50 million. For the next fiscal year, analysts expect that the firm will post sales of $121.51 million, with estimates ranging from $116.51 million to $126.50 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Old Line Bancshares, Inc. (MD).

Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) last issued its earnings results on Tuesday, July 23rd. The bank reported $0.52 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by ($0.01). Old Line Bancshares, Inc. (MD) had a net margin of 26.08% and a return on equity of 9.95%. The firm had revenue of $26.73 million during the quarter, compared to the consensus estimate of $27.45 million.

OLBK has been the subject of several recent analyst reports. BidaskClub upgraded Old Line Bancshares, Inc. (MD) from a “sell” rating to a “hold” rating in a research report on Thursday, September 19th. Janney Montgomery Scott cut Old Line Bancshares, Inc. (MD) from a “buy” rating to a “neutral” rating in a report on Wednesday, July 24th. ValuEngine upgraded Old Line Bancshares, Inc. (MD) from a “sell” rating to a “hold” rating in a report on Friday, July 26th. Raymond James cut Old Line Bancshares, Inc. (MD) from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 24th. Finally, Sandler O’Neill upgraded Old Line Bancshares, Inc. (MD) from a “hold” rating to a “buy” rating in a report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $33.50.

In other news, Director Eric D. Hovde sold 12,500 shares of the company’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $28.57, for a total value of $357,125.00. Following the completion of the transaction, the director now directly owns 870 shares in the company, valued at approximately $24,855.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 12.36% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its stake in shares of Old Line Bancshares, Inc. (MD) by 3.5% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 36,688 shares of the bank’s stock valued at $977,000 after acquiring an additional 1,230 shares during the last quarter. Swiss National Bank grew its holdings in shares of Old Line Bancshares, Inc. (MD) by 9.1% during the 2nd quarter. Swiss National Bank now owns 25,300 shares of the bank’s stock worth $673,000 after acquiring an additional 2,100 shares during the period. Banc Funds Co. LLC grew its holdings in shares of Old Line Bancshares, Inc. (MD) by 32.2% during the 2nd quarter. Banc Funds Co. LLC now owns 380,999 shares of the bank’s stock worth $10,138,000 after acquiring an additional 92,736 shares during the period. Teton Advisors Inc. grew its holdings in shares of Old Line Bancshares, Inc. (MD) by 16.4% during the 2nd quarter. Teton Advisors Inc. now owns 42,479 shares of the bank’s stock worth $1,130,000 after acquiring an additional 6,000 shares during the period. Finally, Context BH Capital Management LP purchased a new position in shares of Old Line Bancshares, Inc. (MD) during the 2nd quarter worth approximately $981,000. Hedge funds and other institutional investors own 51.29% of the company’s stock.

Old Line Bancshares, Inc. (MD) stock traded up $0.25 during midday trading on Thursday, hitting $30.39. 73,005 shares of the company’s stock were exchanged, compared to its average volume of 63,231. Old Line Bancshares, Inc. has a 52-week low of $24.12 and a 52-week high of $31.25. The stock has a 50-day moving average price of $28.71 and a two-hundred day moving average price of $26.71. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.95 and a current ratio of 0.96. The company has a market cap of $512.38 million, a P/E ratio of 13.88 and a beta of 0.61.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date of this dividend was Thursday, September 12th. Old Line Bancshares, Inc. (MD)’s payout ratio is currently 21.92%.

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.

Featured Story: Balance Sheet

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

Earnings History and Estimates for Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK)

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.