Old Line Bancshares, Inc. (MD) (OLBK) Receives $35.75 Average Target Price from Brokerages

Shares of Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) have received a consensus recommendation of “Hold” from the seven research firms that are currently covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $35.75.

Several brokerages have issued reports on OLBK. Zacks Investment Research cut Old Line Bancshares, Inc. (MD) from a “hold” rating to a “sell” rating in a research report on Tuesday, December 11th. Stephens reaffirmed a “buy” rating and set a $34.00 target price on shares of Old Line Bancshares, Inc. (MD) in a research report on Wednesday, December 19th. Finally, BidaskClub raised Old Line Bancshares, Inc. (MD) from a “strong sell” rating to a “sell” rating in a research report on Tuesday, October 30th.

Shares of NASDAQ OLBK opened at $28.16 on Tuesday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.11. The firm has a market cap of $480.81 million, a price-to-earnings ratio of 18.05 and a beta of 0.55. Old Line Bancshares, Inc. has a 12-month low of $24.51 and a 12-month high of $35.72.

Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) last announced its earnings results on Wednesday, October 17th. The bank reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.01). The company had revenue of $27.69 million for the quarter, compared to the consensus estimate of $27.97 million. Old Line Bancshares, Inc. (MD) had a net margin of 20.78% and a return on equity of 10.63%. As a group, equities research analysts expect that Old Line Bancshares, Inc. will post 2.19 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 28th. Stockholders of record on Friday, December 14th were given a $0.10 dividend. The ex-dividend date was Thursday, December 13th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.42%. Old Line Bancshares, Inc. (MD)’s payout ratio is 25.64%.

In other Old Line Bancshares, Inc. (MD) news, Director Eric D. Hovde sold 5,000 shares of Old Line Bancshares, Inc. (MD) stock in a transaction dated Monday, November 26th. The stock was sold at an average price of $30.02, for a total transaction of $150,100.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Eric D. Hovde sold 4,096 shares of Old Line Bancshares, Inc. (MD) stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of $30.32, for a total value of $124,190.72. The disclosure for this sale can be found here. In the last three months, insiders bought 1,830 shares of company stock valued at $51,270 and sold 16,966 shares valued at $511,691. 10.61% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Deroy & Devereaux Private Investment Counsel Inc. lifted its position in Old Line Bancshares, Inc. (MD) by 49.1% during the 3rd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 257,582 shares of the bank’s stock worth $8,150,000 after acquiring an additional 84,870 shares during the period. Renaissance Technologies LLC raised 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 buying an additional 156,540 shares during the last quarter. California Public Employees Retirement System raised its stake in shares of Old Line Bancshares, Inc. (MD) by 18.7% during the 2nd quarter. California Public Employees Retirement System now owns 32,537 shares of the bank’s stock valued at $1,136,000 after buying an additional 5,129 shares during the last quarter. Swiss National Bank purchased a new position in shares of Old Line Bancshares, Inc. (MD) during the 2nd quarter valued at about $768,000. Finally, First Trust Advisors LP raised its stake in shares of Old Line Bancshares, Inc. (MD) by 60.6% during the 2nd quarter. First Trust Advisors LP now owns 36,498 shares of the bank’s stock valued at $1,274,000 after buying an additional 13,779 shares during the last quarter. 50.10% 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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Analyst Recommendations for Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK)

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