Zacks: Brokerages Set $34.00 Target Price for Old Line Bancshares, Inc. (OLBK)

Shares of Old Line Bancshares, Inc. (NASDAQ:OLBK) have been assigned an average broker rating score of 1.75 (Buy) from the four brokers that provide coverage for the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold recommendation, one has issued a buy recommendation and two have given a strong buy recommendation to the company.

Brokers have set a 12-month consensus price objective of $34.00 for the company and are predicting that the company will post $0.49 EPS for the current quarter, according to Zacks. Zacks has also given Old Line Bancshares an industry rank of 173 out of 265 based on the ratings given to related companies.

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Several research firms have weighed in on OLBK. Zacks Investment Research downgraded Old Line Bancshares from a “hold” rating to a “sell” rating in a research note on Wednesday, March 28th. BidaskClub upgraded Old Line Bancshares from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, March 27th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $35.00 price target on shares of Old Line Bancshares in a research note on Tuesday, February 27th. Finally, Sandler O’Neill restated a “buy” rating and issued a $34.50 price target on shares of Old Line Bancshares in a research note on Thursday, January 25th.

In other news, Director James F. Dent sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $31.65, for a total transaction of $31,650.00. Following the sale, the director now directly owns 61,992 shares of the company’s stock, valued at approximately $1,962,046.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Carla Hargrove Mcgill acquired 5,000 shares of the firm’s stock in a transaction dated Monday, March 5th. The shares were purchased at an average cost of $32.57 per share, for a total transaction of $162,850.00. Following the completion of the acquisition, the director now directly owns 22,123 shares in the company, valued at $720,546.11. The disclosure for this purchase can be found here. Insiders have bought a total of 6,477 shares of company stock worth $209,403 over the last ninety days. Insiders own 25.07% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. MetLife Investment Advisors LLC purchased a new stake in shares of Old Line Bancshares during the 4th quarter worth approximately $129,000. The Manufacturers Life Insurance Company raised its holdings in Old Line Bancshares by 6.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,950 shares of the bank’s stock valued at $224,000 after buying an additional 516 shares during the period. Two Sigma Securities LLC purchased a new stake in Old Line Bancshares during the 4th quarter valued at $225,000. Cornerstone Capital Management Holdings LLC. raised its holdings in Old Line Bancshares by 142.2% during the 4th quarter. Cornerstone Capital Management Holdings LLC. now owns 10,900 shares of the bank’s stock valued at $320,000 after buying an additional 6,400 shares during the period. Finally, OxFORD Asset Management LLP raised its holdings in Old Line Bancshares by 21.6% during the 3rd quarter. OxFORD Asset Management LLP now owns 14,910 shares of the bank’s stock valued at $419,000 after buying an additional 2,646 shares during the period. 47.35% of the stock is currently owned by institutional investors and hedge funds.

OLBK stock opened at $32.47 on Friday. 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 company has a market capitalization of $412.19, a price-to-earnings ratio of 20.81 and a beta of 0.28.

Old Line Bancshares (NASDAQ:OLBK) last posted its quarterly earnings results on Tuesday, January 23rd. The bank reported $0.42 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.03). Old Line Bancshares had a return on equity of 8.52% and a net margin of 19.60%. The business had revenue of $19.03 million during the quarter, compared to the consensus estimate of $19.88 million. sell-side analysts expect that Old Line Bancshares will post 2.22 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 30th. Stockholders of record on Friday, March 16th were issued a dividend of $0.08 per share. The ex-dividend date was Thursday, March 15th. This represents a $0.32 annualized dividend and a dividend yield of 0.99%. Old Line Bancshares’s dividend payout ratio (DPR) is 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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