Old Line Bancshares (OLBK) Reaches New 52-Week High and Low at $34.50

Old Line Bancshares, Inc. (NASDAQ:OLBK)’s share price reached a new 52-week high and low during trading on Thursday . The company traded as low as $34.50 and last traded at $34.34, with a volume of 58265 shares traded. The stock had previously closed at $33.86.

A number of equities analysts recently commented on OLBK shares. Zacks Investment Research downgraded Old Line Bancshares from a “buy” rating to a “hold” rating in a research note on Wednesday, December 27th. BidaskClub downgraded Old Line Bancshares from a “hold” rating to a “sell” rating in a research note on Thursday, January 11th. Sandler O’Neill reiterated a “buy” rating and issued a $34.50 price target on shares of Old Line Bancshares in a research note on Thursday, January 25th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $35.00 price target on shares of Old Line Bancshares in a research note on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $34.50.

The company has a debt-to-equity ratio of 0.18, a current ratio of 0.94 and a quick ratio of 0.94. The company has a market cap of $422.62, a P/E ratio of 21.71 and a beta of 0.28.

Old Line Bancshares (NASDAQ:OLBK) last issued its earnings results on Tuesday, April 17th. The bank reported $0.48 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.48. Old Line Bancshares had a return on equity of 9.22% and a net margin of 20.98%. The company had revenue of $19.48 million during the quarter, compared to the consensus estimate of $19.54 million. research analysts forecast that Old Line Bancshares, Inc. will post 2.22 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, March 30th. Shareholders of record on Friday, March 16th were paid a $0.08 dividend. The ex-dividend date was Thursday, March 15th. This represents a $0.32 dividend on an annualized basis and a yield of 0.93%. Old Line Bancshares’s payout ratio is currently 20.51%.

In other Old Line Bancshares news, Director James F. Dent sold 1,000 shares of Old Line Bancshares stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $31.65, for a total value of $31,650.00. Following the completion of the transaction, the director now directly owns 61,992 shares in the company, valued at $1,962,046.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Carla Hargrove Mcgill bought 5,000 shares of the firm’s 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 purchase, the director now owns 22,123 shares of the company’s stock, valued at $720,546.11. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 6,477 shares of company stock valued at $209,403. 25.07% of the stock is currently owned by insiders.

A number of hedge funds have recently modified their holdings of OLBK. Wells Fargo & Company MN boosted its stake in Old Line Bancshares by 17.8% in the third quarter. Wells Fargo & Company MN now owns 56,131 shares of the bank’s stock valued at $1,572,000 after acquiring an additional 8,478 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Old Line Bancshares by 11.9% during the third quarter. Dimensional Fund Advisors LP now owns 178,141 shares of the bank’s stock valued at $4,988,000 after buying an additional 18,993 shares during the last quarter. OxFORD Asset Management LLP raised its holdings in shares of Old Line Bancshares by 21.6% during the third 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 last quarter. Stifel Financial Corp raised its holdings in shares of Old Line Bancshares by 14.2% during the third quarter. Stifel Financial Corp now owns 37,397 shares of the bank’s stock valued at $1,050,000 after buying an additional 4,649 shares during the last quarter. Finally, Maltese Capital Management LLC raised its holdings in shares of Old Line Bancshares by 124.7% during the fourth quarter. Maltese Capital Management LLC now owns 60,000 shares of the bank’s stock valued at $1,766,000 after buying an additional 33,300 shares during the last quarter. Institutional investors own 47.37% of the company’s stock.

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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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