Old Line Bancshares, Inc. (MD) (OLBK) Raised to “Hold” at Zacks Investment Research

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Zacks Investment Research upgraded shares of Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) from a sell rating to a hold rating in a report released on Thursday morning.

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 research analysts have also issued reports on OLBK. BidaskClub lowered shares of Old Line Bancshares, Inc. (MD) from a buy rating to a hold rating in a report on Wednesday, May 23rd. Sandler O’Neill lowered shares of Old Line Bancshares, Inc. (MD) from a buy rating to a hold rating in a report on Thursday, July 26th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $35.63.

Old Line Bancshares, Inc. (MD) stock opened at $33.97 on Thursday. Old Line Bancshares, Inc. has a 52 week low of $26.89 and a 52 week high of $35.72. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.96 and a current ratio of 0.97. The stock has a market capitalization of $582.55 million, a P/E ratio of 23.98 and a beta of 0.29.

Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) last released its quarterly earnings data on Tuesday, July 24th. The bank reported $0.54 EPS for the quarter, topping the consensus estimate of $0.52 by $0.02. The business had revenue of $26.50 million for the quarter, compared to analyst estimates of $26.90 million. Old Line Bancshares, Inc. (MD) had a net margin of 17.09% and a return on equity of 9.23%. analysts forecast that Old Line Bancshares, Inc. will post 2.22 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Friday, September 14th will be issued a $0.10 dividend. The ex-dividend date is Thursday, September 13th. This represents a $0.40 dividend on an annualized basis and a yield of 1.18%. Old Line Bancshares, Inc. (MD)’s dividend payout ratio (DPR) is 25.64%.

In other Old Line Bancshares, Inc. (MD) news, Director Eric D. Hovde sold 10,000 shares of the company’s stock in a transaction dated Wednesday, September 12th. The shares were sold at an average price of $34.25, for a total value of $342,500.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Eric D. Hovde sold 5,796 shares of the company’s stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $34.83, for a total transaction of $201,874.68. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,874 shares of company stock worth $1,749,321. 10.61% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. increased its stake in shares of Old Line Bancshares, Inc. (MD) by 100.5% during the 2nd quarter. BlackRock Inc. now owns 810,841 shares of the bank’s stock valued at $28,306,000 after acquiring an additional 406,390 shares during the last quarter. RMB Capital Management LLC increased its stake in shares of Old Line Bancshares, Inc. (MD) by 238.0% during the 1st quarter. RMB Capital Management LLC now owns 547,086 shares of the bank’s stock valued at $18,054,000 after acquiring an additional 385,211 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Old Line Bancshares, Inc. (MD) by 56.6% during the 2nd quarter. Renaissance Technologies LLC now owns 433,240 shares of the bank’s stock valued at $15,124,000 after acquiring an additional 156,540 shares during the last quarter. Maltese Capital Management LLC increased its stake in shares of Old Line Bancshares, Inc. (MD) by 2.4% during the 2nd quarter. Maltese Capital Management LLC now owns 340,000 shares of the bank’s stock valued at $11,869,000 after acquiring an additional 8,000 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Old Line Bancshares, Inc. (MD) by 36.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 328,239 shares of the bank’s stock valued at $11,459,000 after acquiring an additional 88,103 shares during the last quarter. 47.94% of the stock is owned by institutional investors.

Old Line Bancshares, Inc. (MD) 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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