$27.45 Million in Sales Expected for Old Line Bancshares, Inc. (MD) (OLBK) This Quarter

Brokerages predict that Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) will announce sales of $27.45 million for the current quarter, according to Zacks. Two analysts have made estimates for Old Line Bancshares, Inc. (MD)’s earnings. The lowest sales estimate is $26.68 million and the highest is $28.22 million. Old Line Bancshares, Inc. (MD) posted sales of $26.50 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 3.6%. The company is expected to issue its next quarterly earnings report on Tuesday, July 23rd.

On average, analysts expect that Old Line Bancshares, Inc. (MD) will report full year sales of $111.39 million for the current financial year, with estimates ranging from $108.27 million to $114.50 million. For the next financial year, analysts expect that the company will post sales of $121.51 million, with estimates ranging from $116.51 million to $126.50 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Old Line Bancshares, Inc. (MD).

Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK) last posted its quarterly earnings results on Wednesday, April 24th. The bank reported $0.50 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by ($0.04). The business had revenue of $26.07 million during the quarter, compared to analysts’ expectations of $27.17 million. Old Line Bancshares, Inc. (MD) had a return on equity of 10.18% and a net margin of 22.16%.

Several research firms have recently weighed in on OLBK. Zacks Investment Research raised shares of Old Line Bancshares, Inc. (MD) from a “sell” rating to a “hold” rating in a research note on Friday, March 29th. BidaskClub downgraded shares of Old Line Bancshares, Inc. (MD) from a “sell” rating to a “strong sell” rating in a research note on Friday, March 22nd. Finally, ValuEngine downgraded shares of Old Line Bancshares, Inc. (MD) from a “hold” rating to a “sell” rating in a research note on Wednesday, March 20th. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $34.50.

In other news, Director John M. Suit II bought 1,300 shares of Old Line Bancshares, Inc. (MD) stock in a transaction on Tuesday, February 19th. The shares were bought at an average cost of $27.31 per share, with a total value of $35,503.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James F. Dent sold 1,000 shares of Old Line Bancshares, Inc. (MD) stock in a transaction dated Tuesday, February 26th. The stock was sold at an average price of $28.23, for a total transaction of $28,230.00. Following the transaction, the director now directly owns 60,492 shares in the company, valued at $1,707,689.16. The disclosure for this sale can be found here. Over the last three months, insiders bought 4,935 shares of company stock worth $135,857. Insiders own 12.36% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. Legal & General Group Plc raised its stake in Old Line Bancshares, Inc. (MD) by 17.8% during the fourth quarter. Legal & General Group Plc now owns 2,758 shares of the bank’s stock worth $73,000 after purchasing an additional 416 shares during the period. PNC Financial Services Group Inc. raised its stake in Old Line Bancshares, Inc. (MD) by 12.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 6,508 shares of the bank’s stock worth $171,000 after purchasing an additional 717 shares during the period. Teton Advisors Inc. raised its stake in Old Line Bancshares, Inc. (MD) by 2.7% during the fourth quarter. Teton Advisors Inc. now owns 32,479 shares of the bank’s stock worth $855,000 after purchasing an additional 840 shares during the period. Swiss National Bank raised its stake in Old Line Bancshares, Inc. (MD) by 5.5% during the first quarter. Swiss National Bank now owns 23,200 shares of the bank’s stock worth $578,000 after purchasing an additional 1,200 shares during the period. Finally, Northern Trust Corp raised its stake in Old Line Bancshares, Inc. (MD) by 0.6% during the fourth quarter. Northern Trust Corp now owns 187,550 shares of the bank’s stock worth $4,936,000 after purchasing an additional 1,203 shares during the period. 50.63% of the stock is currently owned by institutional investors.

Shares of NASDAQ:OLBK traded down $0.61 during midday trading on Friday, hitting $25.35. The company’s stock had a trading volume of 24,140 shares, compared to its average volume of 45,686. The company has a current ratio of 0.95, a quick ratio of 0.98 and a debt-to-equity ratio of 0.10. The company has a market cap of $432.27 million, a P/E ratio of 11.58 and a beta of 0.58. Old Line Bancshares, Inc. has a 12-month low of $24.46 and a 12-month high of $35.72.

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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Earnings History and Estimates for Old Line Bancshares, Inc. (MD) (NASDAQ:OLBK)

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