Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) announced a quarterly dividend on Wednesday, November 28th, NASDAQ reports. Stockholders of record on Friday, December 14th will be given a dividend of 0.10 per share by the bank on Friday, December 28th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date is Thursday, December 13th.
Old Line Bancshares, Inc. (MD) has increased its dividend by an average of 21.1% annually over the last three years and has increased its dividend annually for the last 2 consecutive years. Old Line Bancshares, Inc. (MD) has a dividend payout ratio of 18.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Old Line Bancshares, Inc. (MD) to earn $2.51 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 15.9%.
Shares of Old Line Bancshares, Inc. (MD) stock traded up $0.52 during trading on Friday, reaching $29.00. The company’s stock had a trading volume of 40,082 shares, compared to its average volume of 23,947. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a market capitalization of $483.87 million, a price-to-earnings ratio of 18.59 and a beta of 0.37. Old Line Bancshares, Inc. has a 1-year low of $27.18 and a 1-year high of $35.72.
Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) last issued its quarterly earnings results on Wednesday, October 17th. The bank reported $0.57 EPS for the quarter, missing the Zacks’ consensus estimate of $0.58 by ($0.01). Old Line Bancshares, Inc. (MD) had a return on equity of 10.63% and a net margin of 20.78%. The firm had revenue of $27.69 million for the quarter, compared to analyst estimates of $27.97 million. On average, equities research analysts anticipate that Old Line Bancshares, Inc. will post 2.19 earnings per share for the current fiscal year.
In other news, Director Eric D. Hovde sold 10,000 shares of the business’s stock in a transaction dated Wednesday, September 12th. The stock was sold at an average price of $34.25, for a total value of $342,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Eric D. Hovde sold 12,839 shares of the business’s stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $34.38, for a total value of $441,404.82. The disclosure for this sale can be found here. In the last ninety days, insiders have acquired 1,830 shares of company stock valued at $51,270 and have sold 47,083 shares valued at $1,543,339. Insiders own 10.61% of the company’s stock.
A number of analysts have commented on the company. BidaskClub cut Old Line Bancshares, Inc. (MD) from a “hold” rating to a “sell” rating in a research report on Friday. Zacks Investment Research raised Old Line Bancshares, Inc. (MD) from a “sell” rating to a “hold” rating in a research report on Wednesday, August 29th. Stephens set a $35.00 price target on Old Line Bancshares, Inc. (MD) and gave the stock a “buy” rating in a research report on Friday, October 19th. Finally, Raymond James lowered their price target on Old Line Bancshares, Inc. (MD) from $37.00 to $35.00 and set an “outperform” rating for the company in a research report on Friday, October 19th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $35.42.
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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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