Old Line Bancshares Inc. (NASDAQ:OLBK) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday.
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. “
Shares of Old Line Bancshares (NASDAQ:OLBK) opened at 19.45 on Tuesday. The stock has a 50 day moving average price of $19.52 and a 200-day moving average price of $18.62. Old Line Bancshares has a 52 week low of $16.34 and a 52 week high of $20.09. The firm has a market capitalization of $210.82 million, a price-to-earnings ratio of 20.26 and a beta of 0.49.
Old Line Bancshares (NASDAQ:OLBK) last announced its earnings results on Wednesday, July 20th. The company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by $0.01. Old Line Bancshares had a net margin of 16.40% and a return on equity of 8.24%. On average, analysts anticipate that Old Line Bancshares will post $1.12 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 16th were given a dividend of $0.06 per share. The ex-dividend date was Wednesday, September 14th. This represents a $0.24 dividend on an annualized basis and a yield of 1.23%. Old Line Bancshares’s payout ratio is 25.00%.
In related news, Director Thomas H. Graham acquired 2,710 shares of the firm’s stock in a transaction on Wednesday, September 14th. The stock was bought at an average cost of $19.18 per share, with a total value of $51,977.80. Following the transaction, the director now owns 26,439 shares of the company’s stock, valued at $507,100.02. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 25.81% of the company’s stock.
A number of hedge funds have recently bought and sold shares of OLBK. Wellington Management Group LLP boosted its stake in Old Line Bancshares by 1.8% in the first quarter. Wellington Management Group LLP now owns 640,619 shares of the company’s stock worth $11,551,000 after buying an additional 11,079 shares during the last quarter. RMB Capital Management LLC boosted its stake in Old Line Bancshares by 618.6% in the second quarter. RMB Capital Management LLC now owns 299,966 shares of the company’s stock worth $5,399,000 after buying an additional 258,223 shares during the last quarter. Mendon Capital Advisors Corp boosted its stake in Old Line Bancshares by 376.0% in the second quarter. Mendon Capital Advisors Corp now owns 229,211 shares of the company’s stock worth $4,126,000 after buying an additional 181,060 shares during the last quarter. BlackRock Fund Advisors boosted its stake in Old Line Bancshares by 736.0% in the second quarter. BlackRock Fund Advisors now owns 221,136 shares of the company’s stock worth $3,980,000 after buying an additional 194,683 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in Old Line Bancshares by 9.7% in the second quarter. Vanguard Group Inc. now owns 215,079 shares of the company’s stock worth $3,872,000 after buying an additional 19,095 shares during the last quarter. 46.46% of the stock is owned by institutional investors.
About Old Line Bancshares
Old Line Bancshares, Inc is the holding company of Old Line Bank (The Bank). The Bank is a chartered trust company engaged in commercial banking business, making various types of loans, investments and accepting deposits. It markets its financial services to small to medium sized businesses, entrepreneurs, professionals, consumers and clients.
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