$19.54 Million in Sales Expected for Old Line Bancshares, Inc. (OLBK) This Quarter

Analysts forecast that Old Line Bancshares, Inc. (NASDAQ:OLBK) will report sales of $19.54 million for the current quarter, according to Zacks. Two analysts have provided estimates for Old Line Bancshares’ earnings, with estimates ranging from $19.21 million to $19.87 million. Old Line Bancshares posted sales of $16.02 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 22%. The business is scheduled to issue its next earnings results on Friday, May 4th.

According to Zacks, analysts expect that Old Line Bancshares will report full-year sales of $19.54 million for the current fiscal year, with estimates ranging from $99.48 million to $100.70 million. For the next financial year, analysts expect that the business will report sales of $119.51 million per share, with estimates ranging from $118.51 million to $120.50 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Old Line Bancshares.

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Old Line Bancshares (NASDAQ:OLBK) last released its quarterly earnings data on Tuesday, January 23rd. The bank reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.03). The firm had revenue of $19.03 million for the quarter, compared to analyst estimates of $19.88 million. Old Line Bancshares had a net margin of 19.60% and a return on equity of 8.52%.

A number of analysts recently issued reports on the company. Zacks Investment Research cut Old Line Bancshares from a “hold” rating to a “sell” rating in a research report on Wednesday, March 28th. BidaskClub raised Old Line Bancshares from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, March 27th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $35.00 price target on shares of Old Line Bancshares in a research report on Tuesday, February 27th. Finally, Sandler O’Neill reaffirmed a “buy” rating and issued a $34.50 price target on shares of Old Line Bancshares in a research report on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $34.50.

In related news, Director Carla Hargrove Mcgill purchased 5,000 shares of Old Line Bancshares stock in a transaction on Monday, March 5th. The stock was bought at an average price of $32.57 per share, with a total value of $162,850.00. Following the completion of the transaction, the director now directly owns 22,123 shares of the company’s stock, valued at $720,546.11. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director James R. Sr Clifford, Sr. sold 1,500 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $31.94, for a total value of $47,910.00. Following the transaction, the director now directly owns 13,598 shares of the company’s stock, valued at approximately $434,320.12. The disclosure for this sale can be found here. Insiders acquired 6,477 shares of company stock valued at $209,403 in the last ninety days. Insiders own 25.07% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Stifel Financial Corp lifted its position in shares of Old Line Bancshares by 14.2% during the 3rd quarter. Stifel Financial Corp now owns 37,397 shares of the bank’s stock worth $1,050,000 after purchasing an additional 4,649 shares during the last quarter. Royce & Associates LP lifted its position in shares of Old Line Bancshares by 9.1% during the 4th quarter. Royce & Associates LP now owns 89,914 shares of the bank’s stock worth $2,647,000 after purchasing an additional 7,500 shares during the last quarter. Fuller & Thaler Asset Management Inc. lifted its position in shares of Old Line Bancshares by 4.4% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 42,646 shares of the bank’s stock worth $1,255,000 after purchasing an additional 1,800 shares during the last quarter. Kendall Capital Management acquired a new position in shares of Old Line Bancshares during the 4th quarter worth about $531,000. Finally, Basswood Capital Management L.L.C. lifted its position in shares of Old Line Bancshares by 114.8% during the 4th quarter. Basswood Capital Management L.L.C. now owns 382,188 shares of the bank’s stock worth $11,252,000 after purchasing an additional 204,229 shares during the last quarter. 47.35% of the stock is owned by institutional investors and hedge funds.

OLBK opened at $32.47 on Friday. The firm has a market cap of $412.19, a P/E ratio of 22.94 and a beta of 0.28. Old Line Bancshares has a 1 year low of $26.01 and a 1 year high of $33.90. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.18.

The business also recently declared a quarterly dividend, which was paid on Friday, March 30th. Shareholders of record on Friday, March 16th were given a $0.08 dividend. The ex-dividend date of this dividend was Thursday, March 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.99%. Old Line Bancshares’s dividend payout ratio is currently 20.51%.

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About Old Line Bancshares

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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Earnings History and Estimates for Old Line Bancshares (NASDAQ:OLBK)

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