Old Line Bancshares (OLBK) Rating Increased to Hold at Zacks Investment Research

Old Line Bancshares (NASDAQ:OLBK) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Saturday.

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. “

A number of other equities research analysts also recently issued reports on OLBK. Sandler O’Neill reissued a “buy” rating and set a $34.50 price objective on shares of Old Line Bancshares in a research report on Thursday, January 25th. BidaskClub downgraded shares of Old Line Bancshares from a “hold” rating to a “sell” rating in a research report on Thursday, January 11th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $35.00 price objective on shares of Old Line Bancshares in a research report on Tuesday, February 27th. Three equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $34.50.

Shares of OLBK stock opened at $34.18 on Friday. Old Line Bancshares has a 1 year low of $26.01 and a 1 year high of $34.50. 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 firm has a market cap of $429.54, a PE ratio of 21.91 and a beta of 0.28.

Old Line Bancshares (NASDAQ:OLBK) last issued its quarterly earnings data on Tuesday, April 17th. The bank reported $0.48 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.48. Old Line Bancshares had a net margin of 20.98% and a return on equity of 9.22%. The firm had revenue of $19.48 million during the quarter, compared to the consensus estimate of $19.54 million. sell-side analysts forecast that Old Line Bancshares will post 2.24 earnings per share for the current fiscal year.

In other news, Director Carla Hargrove Mcgill bought 5,000 shares of the company’s stock in a transaction that occurred 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 acquisition, the director now owns 22,123 shares of the company’s stock, valued at approximately $720,546.11. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director James F. Dent sold 1,000 shares of the company’s stock in a transaction 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 completion of the transaction, the director now directly owns 61,992 shares of the company’s stock, valued at approximately $1,962,046.80. The disclosure for this sale can be found here. Insiders purchased a total of 6,477 shares of company stock valued at $209,403 in the last ninety days. 25.07% of the stock is currently owned by insiders.

A number of institutional investors have recently modified their holdings of OLBK. Wells Fargo & Company MN boosted its holdings in Old Line Bancshares by 17.8% in the 3rd quarter. Wells Fargo & Company MN now owns 56,131 shares of the bank’s stock worth $1,572,000 after buying an additional 8,478 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Old Line Bancshares by 11.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 178,141 shares of the bank’s stock worth $4,988,000 after buying an additional 18,993 shares during the period. OxFORD Asset Management LLP boosted its holdings in Old Line Bancshares by 21.6% in the 3rd quarter. OxFORD Asset Management LLP now owns 14,910 shares of the bank’s stock worth $419,000 after buying an additional 2,646 shares during the period. Stifel Financial Corp boosted its holdings in Old Line Bancshares by 14.2% in the 3rd quarter. Stifel Financial Corp now owns 37,397 shares of the bank’s stock worth $1,050,000 after buying an additional 4,649 shares during the period. Finally, Maltese Capital Management LLC boosted its holdings in Old Line Bancshares by 124.7% in the 4th quarter. Maltese Capital Management LLC now owns 60,000 shares of the bank’s stock worth $1,766,000 after buying an additional 33,300 shares during the period. 47.37% of the stock is owned by institutional investors.

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Old Line Bancshares Company Profile

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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